Freestanding Office
For Sale
$1,375,000
1201 S MYRTLE Avenue, Clearwater, FL 33756
SINGLE_FAMILY - CLEARWATER, FL
Property Size3,561 SF
Lot Size0.34 Acres
Price / SF$386.13
Days on Market251
Property Features for 1201 S MYRTLE Avenue
General Information
Property type
Residential
Property subtype
Office
Accessibility
Accessible Approach with Ramp
Subdivision
MILTON PARK
Lot features
Central Business District, Corner Lot
Directions
From US-19: West on Gulf to Bay Blvd (SR 60). South on S Myrtle Ave to property at 1201 S Myrtle Ave.
Standard status
Active
APN
21-29-15-58068-003-0090
Size
3,561 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
MILTON PARK BLK 3, LOTS 8 & 9 LESS RD R/W IN NW COR OF LOT 9 PER O.R. 837/117 TOGETHER WITH N 1/2 OF VAC ALLEY ADJ ON S PER O.R. 1687/279 (MAP N-22-29-15)
Tax Annual Amount
20180
Legal Description
MILTON PARK BLK 3, LOTS 8 & 9 LESS RD R/W IN NW COR OF LOT 9 PER O.R. 837/117 TOGETHER WITH N 1/2 OF VAC ALLEY ADJ ON S PER O.R. 1687/279 (MAP N-22-29-15)
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1963
Floors in Building
1
Flooring type
Carpet, Vinyl, Tile
Building materials
Stone, Stucco
Roof type
Shingle
Listing Agency:
COLDWELL BANKER REALTY · Coldwell Banker Real Estate
(813) 253-2444
Listed By:
Bernard Marshall · License #3402788
(317) 418-2276
Added: Dec 10, 2025
Changed: Aug 17
Last Checked: Aug 18 at 6:06AM
MLS# TB8453358
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 freestanding office property contains 3,561 square feet on a 0.34-acre lot. Built in 1963, the building has stone and stucco construction, carpet, vinyl, and tile flooring, plus central heating and central air conditioning. An accessible approach with ramp supports visitor access, while on-site parking and ingress from S Myrtle Avenue accommodate daily operations. The layout can support office, medical, professional service, or retail functions.
The property is located at 1201 S Myrtle Avenue in Clearwater, with access to Gulf to Bay Boulevard and S Missouri Avenue. Clearwater Plaza, Downtown Clearwater, and Morton Plant Hospital are within minutes. Public water and public sewer serve the site, and phone service is available.
The property is located at 1201 S Myrtle Avenue in Clearwater, with access to Gulf to Bay Boulevard and S Missouri Avenue. Clearwater Plaza, Downtown Clearwater, and Morton Plant Hospital are within minutes. Public water and public sewer serve the site, and phone service is available.
Key Highlights
- 3,561‑square‑foot freestanding office building on 0.34 acres
- Built in 1963 with stone and stucco construction
- Central heating and central air conditioning
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
$64,191
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
4.67%
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%
$1,283,820
$1.3M
Cap Rate 7%
$917,014
$917.0K
Cap Rate 9%
$713,233
$713.2K
Market Conditions
NOI Build-Up for 3,561 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
$92.7K $26.04/SF
− Vacancy
−$7.1K −$2.01/SF
EGI
$85.6K $24.03/SF
− OpEx
−$21.4K −$6.01/SF
NOI
$64.2K $18.03/SF
Area
Clearwater, FL
Vacancy
7.70%
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%
$1,283,820
Cap Rate 7%
$917,014
Cap Rate 9%
$713,233
Alternative Uses
Best Use
Office B
$917.0K
$802.4K – $1.07M
NOI $64,191 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$999.1K
$874.2K – $1.17M
NOI $69,935 @ 7.0% cap · market cap 5.09%
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
3,620
Businesses Nearby
Explore this area
Business Placement
Demographics for 33756, FL
31,807
Population
15,474
Households
2.1
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
7.2 sq mi
ZIP Area
4,418
Density / Sq Mi
$63,990
Median Household Income
$38,563
Median Earnings
$1,382
Median Rent
$335,800
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.
Frequently Asked Questions
What type of property is this?
Office building - Central HVAC, public utilities, and an accessible ramp support day-to-day office operations.
Where is this office building located?
The property is located at 1201 S MYRTLE Avenue Clearwater, FL.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 3,561‑square‑foot freestanding office building on 0.34 acres; Built in 1963 with stone and stucco construction; Central heating and central air conditioning
