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Active Commercial

111 N LADY MARY DRIVE

Clearwater, FL 33755

STELLAR #A4697854 Updated: Jun 24, 2026, 2:38pm
$3,400,000
0 Beds • 0 Baths • 13,056 SqFt
Property
ActiveCommercial
1/11
$3,400,000

111 N LADY MARY DRIVE

Clearwater, FL 33755
0
Beds
0
Baths
13,056
SqFt
0.53
Acres
STELLAR
#A4697854
Updated: Jun 24, 2026, 2:38pm

Property Description

Kings Court Apartments - an 18-unit value-add multifamily asset in central Clearwater, minutes from downtown and the Gulf beaches and directly across from Clearwater Country Club. The mix is seven 1BD/1BA and eleven 2BD/2BA in a two-story CBS garden-style building. Major capital is already in place: a 40-year TPO roof installed within the last ~3 years, newer HVAC across most units, copper wiring, and a resurfaced lot - the next owner's capital goes into interiors, not systems. In-place rents (avg ~$1,366) sit well below a renovated pro forma (~$1,694), with staggered 2026-27 lease expirations offering a turn-by-turn mark-to-market path supported by a comp set averaging ~$1,676. Trailing NOI ~$220K; pro forma ~$242K. Laundry and RUBS utility reimbursement add income. Tours by appointment through Rider RE only - please do not disturb tenants.
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Included Appliances
Refrigerator

Property Details

Interior
Appliances
Refrigerator
Building Area Total
15448
Cooling
Central Air
Heating
Central IndividualElectric
Living Area
13056
Construction
Building Area Source
Public Records
Building Area Units
Square Feet
Construction Materials
Block
Direction Faces
Undetermined
Foundation Details
Slab
Levels
Two
Living Area Source
Public Records
Living Area Units
Square Feet
Number Of Units Total
18
Property Condition
Completed
Roof
Membrane
Stories Total
2
Year Built
1973
Site & Exterior
Electric
Separate Meters
Flood Zone Code
AE
I D X Participation
Yes
Lot Size Acres
0.53
Lot Size Area
23235
Lot Size Dimensions
125 x 183
Lot Size Square Feet
23235
Lot Size Units
Square Feet
Public Survey Range
15
Public Survey Section
15
Road Frontage Type
City Street
Road Responsibility
Public Maintained Road
Road Surface Type
Paved
Sewer
Public Sewer
Total Acreage
1/2 to less than 1
Utilities
Electricity AvailablePublicWater Connected
Water Source
Public
Financials
Calculated List Price By Calculated Sq Ft
220.09
Contract Status Change Date
2026-06-22
Current Price
3400000
Feed Types
BBO
Owner Name
COMMON WEALTH SERVICES LLC (TE)
Ownership
Fee Simple
Parcel Number
152915122760010050
Public Survey Township
29
Tax Annual Amount
27093.08
Tax Block
Yes
Tax Book Number
8-34
Tax Legal Description
BROOKWOOD TERRACE REVISED BLK 1, LOTS 5,6 AND N 1/2 OF LOT 7
Tax Lot
7
Tax Year
2025

Neighborhood & Lifestyle

Community & Association
M L S Area Major
33755 - Clearwater
Subdivision Name
BROOKWOOD TERRACE REV
Listing provided courtesy of STELLAR via IDX. Updated: Jun 24, 2026, 2:38pm.
William Gryboski

Listing Agent

G&R REAL ESTATE BROKERAGE, LLC

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