Freestanding Medical Office
New
For Sale
$1,375,000
1201 S MYRTLE, Clearwater, FL 33756
Flexible commercial layout with on-site parking and direct access from S Myrtle Ave.
Property Size3,561 SF
Days on Market4
Property Features for 1201 S MYRTLE
General Information
Standard status
Active
Size
3,561 SF
Property subtype
Commercial
Site & Location
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$20,180
Building Details
Building Size
3,561 SF
Year Built
1963
Buildings
1
Listing Agency:
Coldwell Banker
(317) 418-2276
Listed By:
Bernard Marshall · License #3402788
(317) 418-2276
Source:
Elliman
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 16 at 7:38AM
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
Investment Insights
Based on property information with market context.
This freestanding medical office property was built in 1963 and offers a functional interior arrangement identified as suitable for office, medical, professional services, or retail use. On-site parking and direct ingress and egress from S Myrtle Ave support day-to-day customer and staff access.
The property is located at 1201 S Myrtle Ave in Clearwater, along a well-traveled corridor with connections to Gulf to Bay Blvd and S Missouri Ave. Clearwater Plaza, Downtown Clearwater, and Morton Plant Hospital are within minutes of the site. Transportation metrics include a 47 BikeScore, a 22 WalkScore, and a 50 TransitScore.
The property is located at 1201 S Myrtle Ave in Clearwater, along a well-traveled corridor with connections to Gulf to Bay Blvd and S Missouri Ave. Clearwater Plaza, Downtown Clearwater, and Morton Plant Hospital are within minutes of the site. Transportation metrics include a 47 BikeScore, a 22 WalkScore, and a 50 TransitScore.
Key Highlights
- Freestanding building at 1201 S Myrtle Ave, Clearwater, FL 33756
- Built in 1963
- Layout identified as suitable for office, medical, professional services, or retail use
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
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,620
Businesses Nearby
Under-served
Demand for This Use
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible commercial layout with on-site parking and direct access from S Myrtle Ave.
Where is this medical office space located?
The property is located at 1201 S MYRTLE 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 building at 1201 S Myrtle Ave, Clearwater, FL 33756; Built in 1963; Layout identified as suitable for office, medical, professional services, or retail use
