Madeira-By-The-Sea

Madeira Beach, FL

9

UNITS

1945

YEAR BUILT

0.36

ACRES

7,272

SQUARE FEET

PURCHASE PRICE

Property Tour

Investment Overview

Colliers’ Florida Multifamily team is pleased to offer, Madeira-By-The-Sea, a 9-unit short term rental property located in beautiful Madeira Beach, FL approximately 500 feet from the nearest beach access and a short walk or drive to a plethora of shopping, dining and entertainment. The site contains a fully furnished 2 bedroom, 2 bath single family home, as well as eight 1 bedroom, 1 bath units. There is a total of 7,272 sq ft of living space across 3 buildings that sit on a 0.37 acre parcel.

Madeira-By-The-Sea is currently fully occupied with long term tenants, but has zoning that will allow for short term/nightly rentals. This property is primed for a new owner to add their own personal touch, transition all units to short term rentals, and enjoy cash flow that is more than triple what is currently achieved while operating as a standard apartment property. The 2 bedroom house is already fully furnished and rent ready, but all 1 bed 1 bath units will need to be furnished and prepped for short term renters. The property’s open backyard is a blank slate waiting to be customized to the new owner’s liking. Possible enhancements to the outdoor area include the adding a pool, improved seating and grilling area, shade structures, landscaping, area for lawn games/activities, or storage for beach related items or bikes to be used/rented by guests. All units also already have electronic locks.

Madeira Beach stretches 2 miles along the Gulf of Mexico and is home to Pinellas County’s #1 tourist attraction, John’s Pass Village and Boardwalk, which offers shopping, dining, entertainment and night life. The St. Pete-Clearwater and Tampa International Airports are an approximate 30 minute drive and 45 minute drive respectively. Major thoroughfares provide guests direct access to other local, popular destinations such as Clearwater and downtown St. Petersburg. As we exit the era of the COVID-19 pandemic, Madeira Beach has and will continue to benefit from the strong demand for hotels and vacation rentals in Pinellas County, which has experienced record-breaking numbers for occupancy and average daily rates over the first few months of 2022.

Investment Highlights

  • Well Maintained, Turn-Key Asset Currently Operated As Long Term Rental Property
  • Property’s Zoning Allows For Nightly Rentals
  • Property Contains A Fully Renovated And Furnished 2 Bedroom 2 Bath House
  • Vacant Land On Property Allows New Owner To Add Amenities Or Utilize Space As Desired

Location Highlights

  • Walking Distance To Beach, Grocery, Restaurants and Shops
  • Near Major Thoroughfares With Easy Access To Clearwater, St. Petersburg and Tampa, International Airports and Other Top Rated Beaches
  • Approximately 2 Miles From John’s Pass Village And Boardwalk With Waterfront Dining, Shops and Entertainment

Contact

Jay Ayres
Senior Associate
+1 813 956 9700
jay.ayres@colliers.com

Tyler Carbonelli
Senior Associate
+1 727 744 9291
tyler.carbonelli@colliers.com

CONFIDENTIALITY AGREEMENT

THIS CONFIDENTIALITY AGREEMENT (“Agreement”) is made and agreed to by Colliers Florida Multifamily (“Broker”), exclusive listing broker for the Property, and the undersigned Purchaser (“Purchaser”) regarding the Property herein (“Property”). The obligation of confidentiality undertaken pursuant to this Agreement shall survive the terms of the Broker’s listing agreement with the Owner(s). PURCHASER HAS REQUESTED information from Broker for the purpose of evaluating a possible acquisition of the Property. The Owner of the Property has instructed Broker to deliver information concerning the Property, much of which is highly confidential, only to those potential purchasers who sign this Agreement. THE PARTIES AGREE, in consideration of the covenants and agreements contained herein, as follows: 1. Purchaser will not disclose, permit the disclosure of, release, disseminate or transfer; any information obtained hereunder (“Information”) to any other person or entity. 2. If Purchaser is a corporation, partnership, limited liability company or other non-natural legal entity, the person(s) signing this Agreement on its behalf will take all appropriate precautions to limit the dissemination of the Information only to those persons within the entity who have need to know of the information, and who are specifically aware of the Agreement and agree to honor it. 3. This Agreement applies to all Information received from Broker, now or in the future, which is not readily available to the general public. Purchaser understands that all information shall be deemed confidential, valuable and proprietary such that its unauthorized disclosure, even without intent to harm, could cause substantial and irreparable harm to Owner and Broker. 4. All information shall be used for the sole purpose of evaluating the potential acquisition of the Property, and it shall not at any time, or in any manner, be used for any other purpose. 5. Purchaser shall not contact directly any persons concerning the Property, other than Broker, without Broker’s or Owner’s written permission. Such persons include, without limitation, Owner’s employees, suppliers and tenants. 6. Purchaser acknowledges that it is a principal and not an agent on behalf of any other party in conjunction with the purchase of the Property (except Advisors working on behalf of their pension fund clients). Purchaser acknowledges that it is not working with any other broker or agent other than The Babb Group in connection with this transaction. 7. Neither Broker nor Owner makes any representations or warranty, express or implied, as to the accuracy or completeness of any information provided by them. Purchaser assumes full and complete responsibility for reconfirmation and verification of all Information received and expressly waives all rights of recourse against Owner and Broker with respect to the same. 8. The Persons signing on behalf of Purchaser and Broker represent that they have the authority to bind the party for whom they sign. 9. This Agreement shall be governed and construed in accordance with the laws of the State of Florida. 10. No outside broker represents Purchaser. Purchaser is working with Colliers Florida Multifamily, specifically The Babb Group. Furthermore, Purchaser indemnifies Broker and owner against any commission claims by brokers on this listing or any listing by the Babb Group for the six months following the date of this agreement.