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    Dunedin Medical Office Space Available Title is generated by Realmo AI

    1550 MAIN STREET, Dunedin, FL 34698

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    For Lease
    $195,200 SF/Yr $158,762,666/Mo (calc)

    9,760 SF medical office space for rent in Dunedin.

    Type:Rental
    Property size:
    9,760 SF
    Lot size:
    1.50 Acres
    Added:
    Jun 26, 2024
    Days on Market:
    706
    Last Refresh:
    May 19 at 9:03 pm

    Property Features for 1550 MAIN STREET

    General Information

    Standard status
    Active
    Size
    9,760 SF
    Lot size
    1.50 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1986

    We can help!

    Listing Contact
    John Hodges

    Listing agent John Hodges License #3203415

    Listing office BRODERICK & ASSOCIATES INC

    Listing date Jun 26, 2024

    Source Exitrealty

    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 BRODERICK & ASSOCIATES INC

    HighLights

    • Exceptional location in thriving Dunedin community suitable for medical use.
    • Proximity to 5 north county hospitals within a 15‑minute drive.
    • Significant cost savings with solar power (approximately $1.50/SF value).
    • 9,760 SF available for rent.
    • Ample parking: 3 spaces per 1,000 SF, including 5 covered spaces.
    • Completely built out with large rooms ranging from 350 SF to 800 SF.

    Overview

    Available for rent is approximately 9,760 square feet of space within a building with a gross area of 20,139 square feet, situated in the thriving Dunedin community. The property is suitable for medical use, benefiting from its location within a 15-minute drive of five north county hospitals. The space is completely built out with large rooms varying in size from 350 to 800 square feet. Parking is available at a ratio of 3 spaces per 1,000 square feet, including 5 covered parking spaces. Most of the electric power is supplied by 396 solar panels, valued at approximately $1.50 per square foot. The minimum lease term is 5 years.
    Location Intelligence

    Current Use by Public Records

    Main Street Early ... High School

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Paws and Claws Animal Medical Center - Dunedin — 812 Louden Ave, Dunedin, FL 34698
    • Animal Hospital of Dunedin — 1355 Pinehurst Rd, Dunedin, FL 34698
    • Coastal Veterinary Care — 971 Douglas Ave, Dunedin, FL 34698
    • National Pet Vax — 1546 Main St, Dunedin, FL 34698
    • Dunedin Animal Medical Center & Pet Boarding — 1546 Main St, Dunedin, FL 34698

    Location Insight

    • Map
    • Local Demand
    City
    Dunedin
    County
    Pinellas
    State
    Florida
    Longitude
    -82.762302
    Latitude
    28.019885

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    FAQs

    What type of property is this?
    Medical Office Space - 9,760 SF medical office space for rent in Dunedin.
    Where is this medical office space located?
    The property is located at 1550 MAIN STREET Dunedin, FL.
    What is the lease rate?
    The lease rate is $195,200.
    What are key features of this property?
    This property features: Exceptional location in thriving Dunedin community suitable for medical use.; Proximity to 5 north county hospitals within a 15‑minute drive.; Significant cost savings with solar power (approximately $1.50/SF value).
    (727) 418-4338
    We can help!
    Listing Contact
    John Hodges
    Real Estate License ID: 3203415
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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