Clearwater Commercial Property on
For Sale
$759,900
1212 ROGERS STREET, Clearwater, FL 33756
2,964 sq ft commercial building in Downtown Clearwater.
Property Size2,946 SF
Lot Size0.12 Acres
Price / SF$257.94
Days on Market637
Property Features for 1212 ROGERS STREET
General Information
Standard status
Active
Size
2,946 SF
Lot size
0.12 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1963
Listing Agency:
Century 21 J.W.Morton R.E.
(352) 400-2635
Listed By:
Elias Kirallah · License #3123414
(352) 400-2635
Source:
Exitrealty
Added: Nov 7, 2024
Changed: Jul 10
Last Checked: Aug 6 at 5:24AM
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 Century 21 J.W.Morton R.E.
Investment Insights
Based on property information with market context.
This 2,964 sq. ft. concrete block building is situated on a 0.24-acre CG Commercial Zoned property. It features 100 feet of road frontage on Rogers Street, which connects directly to Missouri Avenue (27,000 AADT) and US 19/60 (43,500 AADT), and offers 18 parking spaces. The current zoning allows for a variety of high-demand uses, including professional/medical offices, general retail, medical marijuana facilities, and other dispensary/pharmacy operations. Located in Downtown Clearwater, the property is one block from several national retailers, hotels, restaurants, and quick-service restaurants. The surrounding population within a 5-mile radius exceeds 295,000, with a median household income of $59,200. This area is expected to grow by 32% by 2028 and includes a workforce population of 255,000, with a median age of 49. Downtown Clearwater is an international tourist destination, welcoming nearly 2 million visitors annually. Pinellas County has a population of over 972,000 residents and Clearwater's beaches attract 15.4 million tourists annually.
Key Highlights
- High‑traffic location: 100 ft frontage on Rogers St, connecting to Missouri Ave and US 19/60.
- CG Commercial Zoning allows for diverse high‑demand uses including professional/medical offices, retail, and medical marijuana facilities.
- Strong demographics: Large surrounding population and growing area.
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
$35,264
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
4.64%
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%
$705,280
$705.3K
Cap Rate 7%
$503,771
$503.8K
Cap Rate 9%
$391,822
$391.8K
Market Conditions
NOI Build-Up for 2,946 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
$53.0K $18.00/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$50.4K $17.10/SF
− OpEx
−$15.1K −$5.13/SF
NOI
$35.3K $11.97/SF
Area
Clearwater, FL
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$705,280
Cap Rate 7%
$503,771
Cap Rate 9%
$391,822
Alternative Uses
Best Use
Retail
$503.8K
$440.8K – $587.7K
NOI $35,264 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$826.5K
$723.2K – $964.3K
NOI $57,857 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,667
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 2,964 sq ft commercial building in Downtown Clearwater.
Where is this retail space located?
The property is located at 1212 ROGERS STREET Clearwater, FL.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: High‑traffic location: 100 ft frontage on Rogers St, connecting to Missouri Ave and US 19/60.; CG Commercial Zoning allows for diverse high‑demand uses including professional/medical offices, retail, and medical marijuana facilities.; Strong demographics: Large surrounding population and growing area.
