City of Clearwater purchases property to build parking garage

cliggittvaluation • Nov 01, 2022

Clearwater's Community Redevelopment Agency approved a contract to purchase a 0.83-acre site at 107 S. Osceola Ave - which is the rear portion of Peace Memorial Presbyterian Church's property. The city plans to use the site to build a 550-space parking garage. Part of the purchase agreement states that 125 spaces will be reserved on Sunday mornings for the church services. The ground portion of the garage also will have 12,000 +/- SF of retail space and there are limitations on what may go into that space. There will be no liquor stores, bars, or tattoo parlors allowed in the space. The city was given an approved purchase price of $1.85 million with $20,000 in expenditures also approved. This comes out to a price of about $51.78 per square foot.

The aerial image above is provided by the Pinellas County Property Appraiser. The property is located on the northeast corner of South Osceola Avenue and Pierce Street in Downtown Clearwater. The Parcel ID is referenced as 16-29-15-20358-002-0110.

Source Information:

Tampa Bay Business Journal

For more information regarding the Clearwater market or for appraisal services contact:


Mike Cliggitt, MAI, MRICS, CCIM

813-405-1705 - Direct Line

findvalue@cliggitt.com

Tampa Office Appraiser

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