Medical Office
For Sale
$1,299,000
108 4TH Avenue S, Safety Harbor, FL 34695
Commercial Sale, SAFETY HARBOR, FL
Property Size3,812 SF
Lot Size0.16 Acres
Price / SF$340.77
Days on Market242
Property Features for 108 4TH Avenue S
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
MSM
Subdivision
GREEN SPGS
Directions
Heading East on Main Street, make a right onto 4th Ave S. The property is located on the right side of the road just after you make the turn.
Standard status
Active
APN
03-29-16-33372-013-0040
Size
3,812 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
GREEN SPRINGS BLK 13, LOT 4
Tax Annual Amount
9202
Legal Description
GREEN SPRINGS BLK 13, LOT 4
Utilities
Cooling system
Central Air
Building Details
Year built
1957
Building materials
Block, Stucco
Listing Agency:
KELLER WILLIAMS TAMPA PROP. · Keller Williams Realty
(813) 264-7754
Listed By:
Alexander Lucke · License #3351552
(727) 410-2896
Added: Dec 29, 2025
Changed: Aug 24
Last Checked: Aug 28 at 9:06PM
MLS# TB8459294
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,812-square-foot medical office building was constructed in 1957 on approximately 0.16 acres. The current arrangement includes a front waiting area, reception desk, ten private offices, a conference room, three restrooms, and a kitchen. Block and stucco construction, central air, and two primary entrances support the building’s functional office layout. The property is zoned MSM and located in Flood Zone X.
Situated at 108 4th Avenue South, the building is just off Main Street in downtown Safety Harbor. Restaurants, boutiques, breweries, waterfront parks, community amenities, and the monthly Third Friday Street Festival are all identified as nearby. The two entrances on the east and west sides can support separate access points or an organized flow for staff and clients. The existing configuration is suited to medical, legal, financial, counseling, or general office operations.
Situated at 108 4th Avenue South, the building is just off Main Street in downtown Safety Harbor. Restaurants, boutiques, breweries, waterfront parks, community amenities, and the monthly Third Friday Street Festival are all identified as nearby. The two entrances on the east and west sides can support separate access points or an organized flow for staff and clients. The existing configuration is suited to medical, legal, financial, counseling, or general office operations.
Key Highlights
- 3,812 SF medical office building constructed in 1957
- Approximately 0.16 acres in Flood Zone X
- Ten private offices plus conference room, reception, waiting area, kitchen, and three restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,186
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,183,720
$1.2M
Cap Rate 7%
$845,514
$845.5K
Cap Rate 9%
$657,622
$657.6K
Market Conditions
NOI Build-Up for 3,812 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$99.3K $26.04/SF
− Vacancy
−$20.3K −$5.34/SF
EGI
$78.9K $20.70/SF
− OpEx
−$19.7K −$5.18/SF
NOI
$59.2K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,183,720
Cap Rate 7%
$845,514
Cap Rate 9%
$657,622
Alternative Uses
Best Use
Office B
$845.5K
$739.8K – $986.4K
NOI $59,186 @ 7.0% cap · market cap 4.56%
Second Best
Healthcare Medical
$502.3K
$439.5K – $586.0K
NOI $35,159 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$991.5K
$867.6K – $1.16M
NOI $69,407 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34695, FL
17,927
Population
8,025
Households
2.2
Avg Household Size
52
Median Age
46%
College-Educated
96%
High-School Grad
5.6 sq mi
ZIP Area
3,201
Density / Sq Mi
$96,138
Median Household Income
$53,436
Median Earnings
$1,680
Median Rent
$418,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A practical layout includes ten private offices, a conference room, three restrooms, reception, waiting, and kitchen space.
Where is this medical office space located?
The property is located at 108 4TH Avenue S Safety Harbor, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 3,812 SF medical office building constructed in 1957; Approximately 0.16 acres in Flood Zone X; Ten private offices plus conference room, reception, waiting area, kitchen, and three restrooms
