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 Market718
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: Oct 23 at 11:11AM
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.
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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 / Yr
$20,550
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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.
