Overview
Colliers, as exclusive adviser, is pleased to offer Stowell Estates; a generational 12.51 acre, two-parcel, mixed-use development site in Clearwater, FL. Located off of Gulf-to-Bay Blvd. (SR 60) and with 750’ linear feet of water frontage, Stowell Estates is one of the last undeveloped properties of this size on Old Tampa Bay.
• The site is within the US 19 Regional Center zoning district which allows for intense residential development of up to 100 units per acre, 150’ building heights and 2.5 FAR along with various other commercial uses including but not limited to retail, medical offices and hotels. The site is in the process of being replatted to curate a 9.95 acre +/- waterfront multifamily parcel behind an adjacent 2.69 acre +/- commercial parcel with frontage on Gulf-to-Bay Blvd. (SR 60).
• The two parcels are offered separately, however, the seller desires to transact both with a single buyer.
• The site falls from 30’ elevation along Gulf-to-Bay Blvd. (SR 60) down to 10-12’ along the water frontage, however, the site sits atop a 6-8’ bluff at the waters edge keeping the majority of the site outside of the coastal high hazard and within flood zone X. In addition to stunning water views, the site has a mature oak tree canopy providing shade and an Old Florida suburban park-like setting.
• The site offers a variety of different mixed-use development alternatives with luxury apartments or for-sale residential housing being the highest and best use for the waterfront parcel and either retail or medical office on the commercial parcel.
• The location is central to the region as a whole offering commute times of less than 30 minutes to more than 98 MSF of office space. Major employment centers are highly accessible including downtown Clearwater to the west, the Westshore Business District and Tampa International Airport to the east and the Bayside office market, Gateway Business District and St. Pete-Clearwater International Airport to the south.
Investment Highlights
Situated along Gulf-to-Bay Blvd. (SR 60), the primary east-west transportation corridor connecting Tampa and Clearwater, the site offers convenient access to the metro’s largest employment hubs as well as abundant retail offerings and a plethora of outdoor entertainment options.
• According to CoStar there is 15.5 MSF of retail and 27 MSF of office and industrial space within a 5-mile radius of the site. Along Gulf-to-Bay Blvd. there are numerous fast-casual dining options including a Starbucks and McDonalds directly in front of the site but also a Dunkin’, Wing House, Burger King, Five Guys, Smokey Bones and Carrabba’s Italian Grill.
Clearwater Mall is a 300K SF retail power center located less than ½ mile to the west of the subject. Anchor tenants include Super Target, Lowe’s, Costco, Burlington and according to Placer.ai (2024) it is the most-visited retail power center in the Pinellas County market drawing an estimated 8.4M annual visits
• Downtown Clearwater, located just 5 miles west of the subject, is undergoing an urban Renaissance much like what is happening in the urban core of both Tampa and St. Petersburg. At the heart is Imagine Clearwater; a $400 Million master-plan which has already transformed the 22-acre Coachman Park waterfront with a new 9,000 seat amphitheater, new playgrounds, picnic areas, splash pad, gardens, walking trails and more.
• Clearwater Beach, just 7 miles west of the subject, is well-known for its sugar white sand beaches and sparkling blue waters which is a big reason why it wins awards annually for being among the top beaches in the country. In 2024, Clearwater Beach was recognized by Travel + Leisure as one of the 15 best white-sand beaches in the world and more than 15.4 million people visited the Pinellas County area contributing over $11.2 Billion to the local economy.
• Nearby St. Petersburg ranked 2nd in the U.S. last year in TripAdvisor’s Traveler’s Choice Awards for Best of the Best Destinations behind only Napa, CA.
• Impressive demographics within a 10-minute drive time include a $101K average HH income, $400K median home value and a median age of 45 years old. Roughly 70% of the local jobs are white-collar and Clearwater’s future job growth outlook over the next 10 years is predicted to be 41% vs. the U.S. national average of 33%
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