Log In/Sign Up
Your email has been sent.
280 Windward Passage
Clearwater Beach, FL 33767
Retail Property For Sale
Investment Highlights
- Located beside a Publix-anchored center, ensuring continuous cross-shopping traffic.
- 100% leased with diversified tenant mix and staggered lease rollovers from 2027–2031.
- Positioned in an affluent, supply-constrained barrier island community with significant visitor traffic.
- Signalized intersection visibility with strong traffic counts near Clearwater Causeway.
- Attractive value-add potential through rent adjustments and NNN lease conversions.
Executive Summary
Windward Plaza presents an exceptional retail investment opportunity in Clearwater Beach’s sought-after Island Estates community. Situated on approximately 0.67 acres, this fully occupied seven-tenant shopping center benefits from its position adjacent to a corporately owned Publix-anchored retail hub, guaranteeing consistent customer draw and strong visibility. The property is positioned near the signalized intersection of Island Way and Windward Passage, with daily traffic counts of about 14,000 vehicles, while the Clearwater Causeway, accommodating 36,500 vehicles per day, lies moments away. Clearwater Beach itself draws over 15 million annual visitors, creating a robust retail ecosystem supported by premier resorts such as the JW Marriott, Wyndham Grand, Hilton, and Hyatt Regency.
This value-add asset currently operates under gross leases with average rents well below local market levels, offering the investor upside through rent resets and conversion to NNN structures over time. Pro forma underwriting anticipates NOI growth from $196,532 to $306,145, representing a significant revenue lift. With staggered lease expirations between 2027 and 2031, investment risk is mitigated while creating opportunities to capture market rent. Windward Plaza’s infill location, high-income demographics, and constrained supply make it a rare acquisition in one of Florida’s highest-demand submarkets.
This value-add asset currently operates under gross leases with average rents well below local market levels, offering the investor upside through rent resets and conversion to NNN structures over time. Pro forma underwriting anticipates NOI growth from $196,532 to $306,145, representing a significant revenue lift. With staggered lease expirations between 2027 and 2031, investment risk is mitigated while creating opportunities to capture market rent. Windward Plaza’s infill location, high-income demographics, and constrained supply make it a rare acquisition in one of Florida’s highest-demand submarkets.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,747 SF
Building Class
C
Year Built
1969
Price
$5,000,000
Price Per SF
$571.62
Cap Rate
6.12%
NOI
$306,145
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
0.68 AC
Zoning
C Clearwater - Commercial Clearwater
Parking
20 Spaces (2.29 Spaces per 1,000 SF Leased)
Frontage
155’ on Windward Passage
Amenities
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 08-29-15-00000-130-0400 | Improvements Assessment | $549,350 |
| Land Assessment | $1,230,650 | Total Assessment | $1,780,000 |
Property Taxes
Parcel Number
08-29-15-00000-130-0400
Land Assessment
$1,230,650
Improvements Assessment
$549,350
Total Assessment
$1,780,000
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
