Freestanding Office
For Sale
$1,275,000
1201 S Myrtle Ave, Clearwater, FL 33756
Established commercial building with on-site parking and direct access from S Myrtle Ave.
Property Size3,561 SF
Price / SF$358.05
Days on Market13
Property Features for 1201 S Myrtle Ave
General Information
Standard status
Active
Size
3,561 SF
Building Details
Year Built
1963
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
Bernard Marshall · License #3402788
(317) 418-2276
Source:
Livewelltampabay
Added: Sep 4
Changed: Sep 16
Last Checked: Sep 16 at 12:55AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This freestanding office building contains 3,561 square feet and was built in 1963. Its layout is identified as suitable for office, medical, professional service, or retail operations, with on-site parking and straightforward ingress and egress from S Myrtle Ave.
The property is located at 1201 S Myrtle Ave in Clearwater, with access to Gulf to Bay Blvd and S Missouri Ave. Clearwater Plaza, Downtown Clearwater, and Morton Plant Hospital are within minutes, placing the building near established commercial and medical corridors. The surrounding residential areas also support the property's position along a well-traveled route.
The property is located at 1201 S Myrtle Ave in Clearwater, with access to Gulf to Bay Blvd and S Missouri Ave. Clearwater Plaza, Downtown Clearwater, and Morton Plant Hospital are within minutes, placing the building near established commercial and medical corridors. The surrounding residential areas also support the property's position along a well-traveled route.
Key Highlights
- 3,561‑square‑foot freestanding office building
- Built in 1963
- On‑site parking with ingress and egress from S Myrtle Ave
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
$64,191
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
5.03%
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%
$1,283,820
$1.3M
Cap Rate 7%
$917,014
$917.0K
Cap Rate 9%
$713,233
$713.2K
Market Conditions
NOI Build-Up for 3,561 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
$92.7K $26.04/SF
− Vacancy
−$7.1K −$2.01/SF
EGI
$85.6K $24.03/SF
− OpEx
−$21.4K −$6.01/SF
NOI
$64.2K $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%
$1,283,820
Cap Rate 7%
$917,014
Cap Rate 9%
$713,233
Alternative Uses
Best Use
Office B
$917.0K
$802.4K – $1.07M
NOI $64,191 @ 7.0% cap · market cap 5.03%
Second Best
Healthcare Medical
$670.3K
$586.5K – $782.0K
NOI $46,920 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$999.1K
$874.2K – $1.17M
NOI $69,935 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,866
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Established commercial building with on-site parking and direct access from S Myrtle Ave.
Where is this office building located?
The property is located at 1201 S Myrtle Ave Clearwater, FL.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 3,561‑square‑foot freestanding office building; Built in 1963; On‑site parking with ingress and egress from S Myrtle Ave
