Office Unit with Attic
For Sale
$249,000
102-28960 Us Highway 19 N, Clearwater, FL 33764
Flexible workspace includes private offices, a conference area, and a dedicated climate-controlled server room.
Property Size1,194 SF
Price / SF$208.54
Days on Market60
Property Features for 102-28960 Us Highway 19 N
General Information
Standard status
Active
Size
1,194 SF
Taxes and HOA fees
Annual Taxes
$3,854
Listing Agency:
BHHS FLORIDA PROPERTIES GROUP
(727) 709-2374
Listed By:
Maryann Spearman · License #3234385
(727) 709-2374
Source:
Exprealty
Added: Jul 3
Changed: Aug 31
Last Checked: Aug 31 at 2:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS FLORIDA PROPERTIES GROUP
Investment Insights
Based on property information with market context.
This office condominium provides a practical configuration for professional, medical, or general office use. The suite includes several private offices, a reception area, and a large room that can function as a conference or break area. A dedicated climate-controlled server room supports office operations, while more than 300 square feet of attic storage adds useful capacity. The premises also have a private rear entrance and a generously sized restroom with potential for a shower or an additional restroom, subject to desired modifications.
The HVAC system was installed in 2020. The property is part of the Countryside Professional Center in Clearwater, and the professionally maintained complex offers ample parking. Office equipment is negotiable. The suite is positioned for immediate occupancy and may suit an owner-user or investor.
The HVAC system was installed in 2020. The property is part of the Countryside Professional Center in Clearwater, and the professionally maintained complex offers ample parking. Office equipment is negotiable. The suite is positioned for immediate occupancy and may suit an owner-user or investor.
Key Highlights
- Over 300 square feet of attic storage
- Several private offices plus a spacious reception area
- Large conference room or break room
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
$21,523
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
8.64%
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%
$430,460
$430.5K
Cap Rate 7%
$307,471
$307.5K
Cap Rate 9%
$239,144
$239.1K
Market Conditions
NOI Build-Up for 1,194 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
$31.1K $26.04/SF
− Vacancy
−$2.4K −$2.01/SF
EGI
$28.7K $24.03/SF
− OpEx
−$7.2K −$6.01/SF
NOI
$21.5K $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%
$430,460
Cap Rate 7%
$307,471
Cap Rate 9%
$239,144
Alternative Uses
Best Use
Office B
$307.5K
$269.0K – $358.7K
NOI $21,523 @ 7.0% cap · market cap 8.64%
Second Best
Healthcare Medical
$224.7K
$196.7K – $262.2K
NOI $15,732 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$335.0K
$293.1K – $390.8K
NOI $23,449 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 33764, FL
27,547
Population
15,193
Households
1.8
Avg Household Size
50
Median Age
32%
College-Educated
93%
High-School Grad
6.3 sq mi
ZIP Area
4,373
Density / Sq Mi
$64,573
Median Household Income
$45,949
Median Earnings
$1,622
Median Rent
$302,500
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 units - Flexible workspace includes private offices, a conference area, and a dedicated climate-controlled server room.
Where is this office units located?
The property is located at 102-28960 Us Highway 19 N Clearwater, FL.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Over 300 square feet of attic storage; Several private offices plus a spacious reception area; Large conference room or break room
