Two-Story Office Building with
For Sale
$5,750,000
1465 S FORT HARRISON AVENUE, Clearwater, FL 33756
Commercial Sale, Other - CLEARWATER, FL
Property Size22,086 SF
Lot Size1.61 Acres
Price / SF$260.35
Days on Market45
Property Features for 1465 S FORT HARRISON AVENUE
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
BELLEAIR HIGHLANDS
Directions
From Court Street, head South on Ft. Harrison Avenue to address. Property is located on the corner of Belleview Blvd and S Ft Harrison Avenue.
Standard status
Active
APN
21-29-15-06948-001-0010
Size
22,086 SF
Lot size
1.61 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1989
Floors in Building
2
Flooring type
Carpet, Laminate
Roof type
Shingle
Architectural style
Other
Listing Agency:
Engel & Völkers Belleair
(727) 461-1000
Listed By:
Kelly Montgomery-Kepler
(727) 515-6887
Added: Jun 29
Changed: Jul 15
Last Checked: Aug 12 at 10:06AM
MLS# TB8470224
Copyright © 2026 Engel & Völkers. 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.
Belleair Landing is a highly recognizable two-story, solid-concrete office property featuring 16 office suites. The building includes an elevator and a sweeping staircase, with an updated, welcoming lobby designed to support a professional tenant mix. The property also provides abundant on-site parking. Recent capital improvements noted include a newer roof, fresh exterior paint, a newly paved parking lot, and updated landscaping. Prominent building signage is complemented by an illuminated pylon sign for visibility along the main thoroughfare.
The asset is positioned at a signalized corner on S. Fort Harrison Avenue and Belleview Boulevard, directly across from Belleair Country Club Golf Course. It sits just outside Belleair in a highly visible Pinellas County corridor. The remarks also note proximity to the Pinellas Trail and Pelican Golf Club, with Clearwater Beach a few minutes away.
For buyers or owner-users, Belleair Landing offers a complete, established office building configuration with multiple suites already in place for flexible occupancy. The combination of a professional lobby, on-site parking, and the property’s landmark presence along a primary corridor may support both continuity for existing office tenants and straightforward leasing for future suite-level occupancy.
The asset is positioned at a signalized corner on S. Fort Harrison Avenue and Belleview Boulevard, directly across from Belleair Country Club Golf Course. It sits just outside Belleair in a highly visible Pinellas County corridor. The remarks also note proximity to the Pinellas Trail and Pelican Golf Club, with Clearwater Beach a few minutes away.
For buyers or owner-users, Belleair Landing offers a complete, established office building configuration with multiple suites already in place for flexible occupancy. The combination of a professional lobby, on-site parking, and the property’s landmark presence along a primary corridor may support both continuity for existing office tenants and straightforward leasing for future suite-level occupancy.
Key Highlights
- Highly visible location at a signalized corner on S. Fort Harrison Avenue with prominent building and pylon signage.
- Anchored by the popular Wildflower Café, a destination for residents and visitors.
- Recent capital improvements including a newer roof, fresh exterior paint, newly paved parking lot, and updated landscaping.
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
$398,126
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
6.92%
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%
$7,962,520
$8.0M
Cap Rate 7%
$5,687,514
$5.7M
Cap Rate 9%
$4,423,622
$4.4M
Market Conditions
NOI Build-Up for 22,086 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
$575.1K $26.04/SF
− Vacancy
−$44.3K −$2.01/SF
EGI
$530.8K $24.03/SF
− OpEx
−$132.7K −$6.01/SF
NOI
$398.1K $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%
$7,962,520
Cap Rate 7%
$5,687,514
Cap Rate 9%
$4,423,622
Alternative Uses
Best Use
Office B
$5.69M
$4.98M – $6.64M
NOI $398,126 @ 7.0% cap · market cap 6.92%
Second Best
Specialty Retail
$4.34M
$3.80M – $5.06M
NOI $303,727 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$6.20M
$5.42M – $7.23M
NOI $433,749 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Office units
Location Intelligence
Trade Area within ½ mile
1,173
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
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Frequently Asked Questions
What type of property is this?
Office building - Concrete two-story office building with 16 suites, elevator and staircase, plus abundant on-site parking and recent exterior improvements.
Where is this office building located?
The property is located at 1465 S FORT HARRISON AVENUE Clearwater, FL.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Highly visible location at a signalized corner on S. Fort Harrison Avenue with prominent building and pylon signage.; Anchored by the popular Wildflower Café, a destination for residents and visitors.; Recent capital improvements including a newer roof, fresh exterior paint, newly paved parking lot, and updated landscaping.
