Living / Multi-housing

1100 Apex

1100 Cleveland St, Clearwater, FL, 33755-4840, US

1100 Apex_Property for Sale

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1100 Apex 2_Property for Sale

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present 1100 Apex (the “Property”), a 134-unit luxury, core-plus opportunity in the heart of burgeoning Downtown Clearwater offering immediate access to the famed white sand beaches of Clearwater Beach. Rising 15 stories high with 3,479 sf of ground-floor retail, the Property was formerly an office building that the current owner converted to Clearwater’s premier multi-family community in 2020, featuring sophisticated interior finishes, abundant amenity offerings, oversized floorplans averaging 1,085 sf, and breathtaking views of Clearwater Beach and Downtown Clearwater.


The Property’s strategic location within Downtown Clearwater offers residents an unmatched quality of life. Rated as both “Very Walkable” and “Very Bikeable” by WalkScore.com, the Property is within the vicinity of a Publix grocery store, a growing number of restaurants, cafes, and nightlife destinations, as well as 3 million square feet of office space. Downtown Clearwater’s rapid growth is highlighted by the transformative $500 million waterfront Imagine Clearwater development that will feature a 4,000-seat covered bandshell in Coachman Park, thousands of square feet of space devoted to retail and office with direct access to Clearwater Harbor. Moreover, Downtown Clearwater sits just across the Clearwater Memorial Causeway from the world-renowned Clearwater Beach, which ranks as the #1 beach in the U.S. by TripAdvisor and provides dazzling sunset views for the Property’s residents.


Sitting as the finest luxury apartments in Clearwater, the Property’s rents represent over a 30% discount to competing product in Downtown St. Pete, making it an easy choice for residents desiring the benefits of living in a walkable urban environment at an affordable price. The Property caters to an affluent renter base that boasts an average household income of $186,900 that enjoy the convenience of being less than a 30-minute drive from Tampa’s major job markets of the Gateway District (104,000 employees), the Westshore Business District (102,000 employees), and Downtown Tampa (71,000 employees).

Attributes

Number of units
134 units
Occupancy
95.00%
Year built
2019
Building area gross
335,051 sf

Investment highlights

  • Rare opportunity to acquire a stunning, modern luxury highrise in Downtown Clearwater within one of the most supply constrained submarkets in the densest county in Florida
  • Highly differentiated asset with high-end interior finishes, unique townhome units, and breathtaking views of the Gulf
  • Immediate access to highly desirable lifestyle amenities like Clearwater Beach, TripAdvisor’s #1 ranked beach, the Pinellas Trail, and numerous dining and nightlife options
  • Five-star resort-style amenities areas including a heated pool, state-of-the-art fitness center, turfed dog park, a golf simulator, and yoga room
  • Extremely affluent resident base with an Average Household Income of $186,909
  • Top-performing submarket with projected year over year rent growth of 15.9%, according to AxioMetrics


1100 Apex 4_Property for Sale

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Last updated
Aug 24, 2022