Pelican Walk Plaza 483 Mandalay Ave 38,713 SF 98% Leased Retail Building Clearwater Beach, FL 33767 $34,462,500 CAD ($890.20 CAD/SF) 6.63% Cap Rate

CBRE is pleased to present for sale Pelican Walk Plaza, a 38,713 SF retail destination located on Clearwater Beach, a location consistently recognized as the #1 beach in the nation. Pelican Walk is arguably the largest and most recognized center on the beach and holds one of the most coveted positions on the strip. This location places it within a five-minute walk of major landmarks such as Pier 60 Park, the Hilton Clearwater Beach Resort, the upscale Belle Harbor Condos, Sandpearl Resort, and Mandalay Park. This proximity ensures a consistent flow of customers from nearby accommodations, benefiting the businesses within the plaza and contributing to its commercial success.
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.