Updated Office Unit For
For Sale
Contact for pricing
551-587 S Duncan Ave, Clearwater, FL
Updated office unit suitable for medical or general use.
Property Size1,140 SF
Lot Size2.29 Acres
Price / SF$197.37
Days on Market672
Property Features for 551-587 S Duncan Ave
General Information
Standard status
Active
Size
1,140 SF
Lot size
2.29 Acres
Property subtype
OFFICE
Listing Agency:
Klein & Heuchan, Inc.
(727) 441-1951
Listed By:
Mark S. Klein · License #BK136744
(727) 772-3963
Source:
Moodyscre
Added: Nov 5, 2024
Changed: Jul 10
Last Checked: Sep 8 at 9:25AM
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 Klein & Heuchan, Inc.
Investment Insights
Based on property information with market context.
This updated unit, with a size of 1140 square feet, is suitable for medical, chiropractic, or massage practices, and can also be converted to general office use. The building's roof has been recently updated.
Key Highlights
- Updated unit suitable for medical, chiropractic, or massage practices.
- Convertible to general office space.
- Recently updated building roof.
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
$20,550
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
9.13%
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%
$411,000
$411.0K
Cap Rate 7%
$293,571
$293.6K
Cap Rate 9%
$228,333
$228.3K
Market Conditions
NOI Build-Up for 1,140 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
$29.7K $26.04/SF
− Vacancy
−$2.3K −$2.01/SF
EGI
$27.4K $24.03/SF
− OpEx
−$6.8K −$6.01/SF
NOI
$20.5K $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%
$411,000
Cap Rate 7%
$293,571
Cap Rate 9%
$228,333
Alternative Uses
Best Use
Office B
$293.6K
$256.9K – $342.5K
NOI $20,550 @ 7.0% cap · market cap 9.13%
Second Best
Healthcare Medical
$214.6K
$187.8K – $250.4K
NOI $15,021 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$319.8K
$279.9K – $373.2K
NOI $22,389 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
- Vet 2 Vet Reconnect — 587 S Duncan Ave, Clearwater, FL 33756, United States
- Love Animal Hospital — 510 S Highland Ave, Clearwater, FL 33756
- A Pet's Place of Clearwater — 410 S Pegasus Ave, Clearwater, FL 33765
- Bell Jennifer DVM — 1961 drew st, clearwater, fl 33765
Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated office unit suitable for medical or general use.
Where is this medical office space located?
The property is located at 551-587 S Duncan Ave Clearwater, FL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Updated unit suitable for medical, chiropractic, or massage practices.; Convertible to general office space.; Recently updated building roof.
