Functional Office Building Near
For Sale
$1,299,000
108 4th Avenue, Safety Harbor, FL 34695
Professional office building in the heart of downtown Safety Harbor.
Property Size3,812 SF
Lot Size0.16 Acres
Price / SF$340.77
Days on Market244
Property Features for 108 4th Avenue
General Information
Standard status
Active
Size
3,812 SF
Lot size
0.16 Acres
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$9,202
Amenities
Central Air
3
Building Details
Year Built
1957
Listing Agency:
KELLER WILLIAMS TAMPA PROPERTIES
(813) 264-7754
Listed By:
Alexander Lucke · License #3351552
Source:
Xome
Added: Dec 25, 2025
Changed: Aug 25
Last Checked: Aug 25 at 6:17AM
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 KELLER WILLIAMS TAMPA PROPERTIES
Investment Insights
Based on property information with market context.
Located steps from Main Street in downtown Safety Harbor, this professional office building at 108 4th Avenue South presents an opportunity for an owner-user or investor. Constructed in 1957, the 3,812 square foot building is situated on approximately 0.16 acres in Flood Zone X. Currently configured as a medical office, the layout includes a front waiting area and reception desk, ten private offices, a dedicated conference room, three restrooms, and a kitchen. The efficient layout provides flexibility for various professional uses, such as medical, legal, financial, counseling, or general office operations. The building features two primary entrances on the east and west sides, allowing convenient access and potential tenant separation. The location offers visibility and proximity to Safety Harbor’s restaurants, boutiques, breweries, waterfront parks, and community amenities. It is also near the Third Friday Street Festival. Safety Harbor has been recognized as a top Main Street and Small Town. This property offers a combination of location, functionality, and community presence.
Key Highlights
- Prime location in downtown Safety Harbor, steps from Main Street and close to restaurants, boutiques, breweries, and waterfront parks.
- Nationally recognized small‑town setting, ranked as a top Main Street and small town by USA Today.
- Versatile 3,812 SF building suitable for owner‑user or investor, adaptable to various professional uses (medical, legal, financial, general office).
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
Location Intelligence
Trade Area within ½ mile
979
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.
Similar Off Market Nearby
- Animal Associates — 955 Delaware St, Safety Harbor, FL 34695
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional office building in the heart of downtown Safety Harbor.
Where is this medical office space located?
The property is located at 108 4th Avenue 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: Prime location in downtown Safety Harbor, steps from Main Street and close to restaurants, boutiques, breweries, and waterfront parks.; Nationally recognized small‑town setting, ranked as a top Main Street and small town by USA Today.; Versatile 3,812 SF building suitable for owner‑user or investor, adaptable to various professional uses (medical, legal, financial, general office).
