Entity Owned 
For Sale
1 / 4
$2,450,000
609 Indian Rocks Rd,Unit BELLEAIR, Clearwater, FL 33756
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Property summary
AI-generated overview
The property is a medical/office building located in Belleair. It has a floor area of 5,243 square feet and sits on an approximately 0.5-acre lot. The building had a tile roof installed (described as new in the listing). Exterior features include landscaping, and the site is positioned directly across the street from the Belleair Country Club golf course. Parking is provided by a large rear parking lot that offers direct access to the business entrance.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1971
Construction
CONCRETE BLOCKS
Total area
5,243 SF
Lot
0.44 ac (18,975 SF)
APN
21-29-15-08640-000-0240
UPID
US18-5422048
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician
-
Physician Hospital
-
Physician Medical Clinic
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.55M
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.07M
Owner & transaction history
since 2022
Last sale
$1.9M
2 recorded transactions
Zoning & alternative use
Top alternative use upside
Retail stores
$1.1M
+22.6%
Apartment house (5+ units)
$1.1M
+18.0%
Neighborhood: shopping center
$925,000
+3.8%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.07M
Value range
$959k – $1.17M
±10% around blend
Estimated value / SF
$203 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
50
Income certainty
100
$959k
blend $1.07M
$1.17M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,243 SF
Lot area
0.44 ac
Year built
1971
Stories
1
APN
21-29-15-08640-000-0240
Assessed value
$1,560,000
Annual tax
$31,030
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.55M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.68M
@ 6.5% CAP return
$1.55M
@ 7% CAP return
$1.44M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$31,030
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.58M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.8 mi away · 4,798 SF
2.5 mi away · 4,264 SF
6.8 mi away · 6,754 SF
9.7 mi away · 3,825 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.07M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 122 sales
$170
+20%
Submarket 302 sales
$188
+8%
County 995 sales
$240
-15%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $203/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+23%
vs current-use indication
Apartment House (5+ Units)
Neighborhood: Shopping Center
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
9.40%
Selected cap rate for this office buildings
Derived from the Clearwater market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 9.40%
9.0%
NOI (est.)
$95k *
Last sale · May 2022
$1.94M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.01M
Move the market yield to see immediate price impact.
Value / SF
$192
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.90%9.40%9.90%
$85k
$956k
$905k
$859k
$95k
$1.06M
$1.01M
$955k
$104k
$1.17M
$1.11M
$1.05M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$2.30M
0.4 mi · Nov 2025 · $348/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$31,030
Tax year 2023
Assessed value
$1,560,000
Assessed 2023
Previous assessed
$685,000
+127.7% YoY
Effective rate
1.99%
On assessed value
Land market value
$866,961
Improvement market value
$693,039
Total market value
$1,560,000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Sale
Year built
1971
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
3
Total area
5,243 SF
Lot
0.44 ac (18,975 SF)
APN
21-29-15-08640-000-0240
UPID
US18-5422048
Jurisdiction
PINELLAS
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1971
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
3
Lot
0.44 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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