Belleair Bluffs apartments near the intracoastal sell for $9 million
By Breanne Williams
Tampa Bay Business Journal
Published: Apr 12, 2023

A Belleair Bluffs apartment complex has sold to a Clearwater-based private investor for $9 million.

The Colonial Bluffs apartment community, located at 2942 W. Bay Drive, was built in 1972. The sale closed on April 7, according to a deed filed in Pinellas County. The seller was Michael Murphy, a private investor from Largo.

The property has 40 units spread over a two-story building, according to the property appraiser. The sale price breaks down to $225,000 per unit. The complex totals approximately 33,395 square feet.

Colonial Bluffs has an interior courtyard and a pool. It offers one- to two-bedroom units that range between 750 square feet and 1,000 square feet. The complex last sold in June 1988 for $1.3 million, according to a Pinellas County deed.

The complex has direct access to the South Belleair Causeway and is three minutes from Belleair Shore. It lies across the street from a Premier Sotheby’s International Realty office, Harbour Club Condos and Port Belleair condos.

The complex is also a few blocks from Bonefish Grill, Panera Bread, Cody’s Original Roadhouse and Seaweed Steaks, Seafood & Sushi. It is less than 2 miles from the Pelican Golf Club and just under 4 miles from the Belleair Country Club.