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Pelican Walk Plaza 483 Mandalay Ave 38,713 SF 94% Leased Retail Building Clearwater Beach, FL 33767 $25,000,000 ($645.78/SF) 6.63% Cap Rate
Investment Highlights
- Largest, most recognizable center on Clearwater Beach, one of the most visited beach destinations in the U.S
- 38,713 SF, 98% NNN leased to 18 tenants
- Immediate proximity to Pier 60, beachfront hotels, resorts, and public beach access
- Attached to the only public parking garage in North Beach, delivering automatic foot traffic and boosts dwell time of customers to Plaza
- Lifestyle & Trophy Asset appeal, experiential center with tourism-driven revenue tailwinds
- Benefits from year-round tourism, seasonal population spikes, and strong international tourist visitation
Executive Summary
As a prominent retail and dining destination, Pelican Walk Plaza houses popular establishments like Hogan’s Beach Shop, Clearwater Comedy Club, and Hurricane Eddie’s, attracting a steady stream of visitors. Ownership has invested more than $2M in improvements since 2018, creating a vibrant atmosphere with diverse offerings that enhance the overall appeal of the beachfront, making it a central hub for shopping and dining. Additionally, the plaza is directly connected to the only parking garage on North Clearwater Beach (700 spaces), serving both beachgoers and plaza customers, with pedestrian crosswalks on either side providing safe, direct access to and from the beach. This connectivity delivers a constant, built-in flow of beachbound foot traffic, ensures reliable and convenient parking for customers, and captures both planned visits and impulse spending from pedestrians moving directly between the garage, the retail center, and the beach, significantly boosting visibility, dwell time, and sales potential for tenants.
Data Room Click Here to Access
Property Facts
Amenities
- Courtyard
- Restaurant
- Signage
- Accent Lighting
- Recessed Lighting
- Air Conditioning
- Balcony
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Clearwater Beach Restaurant with Outdoor Patio Available Now For Lease! New renovation with fully built out kitchen with hood, new dining room and 2 modern bathrooms. Outdoor patio for tables and service directly on Mandalay Ave where the tourists walk by. Easy transition to your concept, perfect for Pizza, Burgers/Wings, Breakfast/Brunch and more! Quick open perfect opportunity to get your Beach Restaurant in time for Spring Break and Busy Season! Located in the busiest tourist zone on Clearwater Beach in Pelican Walk Plaza, a luxury landmark retail center with the only public parking garage on North Beach with over 700 spaces for tourists and beachgoers. Next to a busy Beachwear and gift store to the right and Hulk Hogan's store and statue to the left! Surrounded by luxury hotels like the 4-Diamond Award winning Sandpearl Resort and multi-million dollar condos for heavy traffic from both tourists and locals. Landlord usually asks $250K key money for the first floor units, this fully built out restaurant is available now for NO KEY MONEY with a new long-term lease.
Beautifully renovated space with new marble look tile, large granite and wood counter and new upscale bathroom. This 900 Sq Ft unit is already built out with plumbing and electric for a very easy transition to a restaurant/bar, retail, office space or any number of businesses! Space includes some outdoor square footage for tables, displays and more! Contact Andrew Vieira (914) 400-3319 today for a showing of the property!
| Space | Size | Space Use | Position | Available |
| 106 | 1,400 SF | Restaurant | - | Now |
| 2nd Floor | 900 SF | Retail | - | Now |
106
| Size |
| 1,400 SF |
| Space Use |
| Restaurant |
| Position |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 900 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
106
| Size | 1,400 SF |
| Space Use | Restaurant |
| Position | - |
| Available | Now |
Clearwater Beach Restaurant with Outdoor Patio Available Now For Lease! New renovation with fully built out kitchen with hood, new dining room and 2 modern bathrooms. Outdoor patio for tables and service directly on Mandalay Ave where the tourists walk by. Easy transition to your concept, perfect for Pizza, Burgers/Wings, Breakfast/Brunch and more! Quick open perfect opportunity to get your Beach Restaurant in time for Spring Break and Busy Season! Located in the busiest tourist zone on Clearwater Beach in Pelican Walk Plaza, a luxury landmark retail center with the only public parking garage on North Beach with over 700 spaces for tourists and beachgoers. Next to a busy Beachwear and gift store to the right and Hulk Hogan's store and statue to the left! Surrounded by luxury hotels like the 4-Diamond Award winning Sandpearl Resort and multi-million dollar condos for heavy traffic from both tourists and locals. Landlord usually asks $250K key money for the first floor units, this fully built out restaurant is available now for NO KEY MONEY with a new long-term lease.
2nd Floor
| Size | 900 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Beautifully renovated space with new marble look tile, large granite and wood counter and new upscale bathroom. This 900 Sq Ft unit is already built out with plumbing and electric for a very easy transition to a restaurant/bar, retail, office space or any number of businesses! Space includes some outdoor square footage for tables, displays and more! Contact Andrew Vieira (914) 400-3319 today for a showing of the property!
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-29-15-60417-000-0100 | Improvements Assessment | $13,300,000 |
| Land Assessment | $0 | Total Assessment | $13,300,000 |
Property Taxes
Presented by
Pelican Walk Plaza | 483 Mandalay Ave
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