Freestanding Office and Retail
For Sale
$1,375,000
1201 S Myrtle Avenue CLEARWATER, Clearwater, FL 33756
Freestanding building with a functional layout, ample on-site parking, and high visibility along a busy Clearwater corridor.
Property Size3,757 SF
Price / SF$386.13
Days on Market48
Property Features for 1201 S Myrtle Avenue CLEARWATER
General Information
Standard status
Active
Size
3,757 SF
Taxes and HOA fees
Annual Taxes
$20,180
Amenities
Carpet,Tile,Vinyl
true
1
Shades
Public Records
Mature Landscaping,Oak Trees
Central Business District,Corner Lot
Public
14911
0.34
false
19 to 30 Spaces,Ground Level,Lighted
Paved
Slab
City Street,Interchange
3757
Building Details
Building Size
3,757 SF
Year Built
1963
Buildings
1
Stories
1
Listing Agency:
(904) 569-5862
Listed By:
Morgan Friesen
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 7
Changed: Aug 23
Last Checked: Aug 23 at 2:27AM
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 Morgan Friesen
Investment Insights
Based on property information with market context.
This freestanding commercial building at 1201 S Myrtle Avenue offers a functional interior layout suited for office, medical, professional services, or retail use. The property is positioned on a sizable lot, providing flexibility for a range of business operations. Ample on-site parking supports convenient day-to-day access for employees and customers.
The building is located along a well-traveled corridor in Clearwater, with easy ingress and egress from S Myrtle Ave. Access is convenient to Gulf to Bay Blvd and S Missouri Ave, and the site is described as having high visibility. The property is also within minutes of Clearwater Plaza, Downtown Clearwater, and Morton Plant Hospital.
For an owner-user, the configuration supports multi-purpose use across office, medical, and professional service needs, with parking on site for client convenience. For investors or occupiers seeking a centrally located freestanding asset, the versatile layout and location near established commercial and medical corridors can support a variety of tenant types, subject to applicable use requirements.
The building is located along a well-traveled corridor in Clearwater, with easy ingress and egress from S Myrtle Ave. Access is convenient to Gulf to Bay Blvd and S Missouri Ave, and the site is described as having high visibility. The property is also within minutes of Clearwater Plaza, Downtown Clearwater, and Morton Plant Hospital.
For an owner-user, the configuration supports multi-purpose use across office, medical, and professional service needs, with parking on site for client convenience. For investors or occupiers seeking a centrally located freestanding asset, the versatile layout and location near established commercial and medical corridors can support a variety of tenant types, subject to applicable use requirements.
Key Highlights
- Freestanding 1‑story commercial building at 1201 S Myrtle Ave, built in 1963, with 3,757 SF total building area
- Corner lot in Clearwater’s Central Business District with 0.34‑acre (14,911 SF) lot size
- On‑site parking for 19 to 30 spaces with ground‑level access and lighted parking
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
4.67%
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 4.67%
Second Best
Healthcare Medical
$670.3K
$586.5K – $782.0K
NOI $46,920 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$999.1K
$874.2K – $1.17M
NOI $69,935 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Freestanding building with a functional layout, ample on-site parking, and high visibility along a busy Clearwater corridor.
Where is this office units located?
The property is located at 1201 S Myrtle Avenue CLEARWATER Clearwater, FL.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Freestanding 1‑story commercial building at 1201 S Myrtle Ave, built in 1963, with 3,757 SF total building area; Corner lot in Clearwater’s Central Business District with 0.34‑acre (14,911 SF) lot size; On‑site parking for 19 to 30 spaces with ground‑level access and lighted parking
