Office Units with Separate
New
For Sale
$599,000
1311 S MISSOURI, Clearwater, FL 33756
Concrete-block office property with flexible unit configuration, dedicated parking, and separately metered electric service.
Property Size2,304 SF
Days on Market5
Property Features for 1311 S MISSOURI
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,021
Building Details
Building Size
2,304 SF
Year Built
1960
Listing Agency:
BINGHAM REALTY INC
(813) 714-2317
Listed By:
Brian Infantino · License #700275
(813) 714-2317
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 25 at 9:05AM
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 BINGHAM REALTY INC
Investment Insights
Based on property information with market context.
This 2,304-square-foot concrete-block office building is divided into three units. Unit A contains approximately 768 square feet, central HVAC, one restroom, a front entrance, and a rear employee entrance. Units B and C are combined into approximately 1,536 square feet and currently configured as a professional tax accounting office with two restrooms, two front entrances, two rear employee entrances, and window AC units. Large plate-glass windows provide natural light and display exposure. The membrane roof was replaced a few years ago.
The property includes a dedicated asphalt parking lot with additional overflow parking behind the building. Each unit has a separate electric meter, while the building shares one water meter. The site is zoned C-2 and is not located in a flood zone. Unit A is vacant, and the existing tax-service occupant may be willing to lease it back or vacate based on the purchaser’s needs. Adjacent businesses include Publix, RNR Tire Express, and CITGO Gas. WalkScore is 72, BikeScore is 73, and TransitScore is 35.
The property includes a dedicated asphalt parking lot with additional overflow parking behind the building. Each unit has a separate electric meter, while the building shares one water meter. The site is zoned C-2 and is not located in a flood zone. Unit A is vacant, and the existing tax-service occupant may be willing to lease it back or vacate based on the purchaser’s needs. Adjacent businesses include Publix, RNR Tire Express, and CITGO Gas. WalkScore is 72, BikeScore is 73, and TransitScore is 35.
Key Highlights
- 2,304‑square‑foot office building divided into Units A, B, and C
- Unit A: approximately 768 Sq Ft with central HVAC and 1 restroom
- Units B and C combined: approximately 1,536 sq ft with 2 restrooms
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
$41,532
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
6.93%
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%
$830,640
$830.6K
Cap Rate 7%
$593,314
$593.3K
Cap Rate 9%
$461,467
$461.5K
Market Conditions
NOI Build-Up for 2,304 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
$60.0K $26.04/SF
− Vacancy
−$4.6K −$2.01/SF
EGI
$55.4K $24.03/SF
− OpEx
−$13.8K −$6.01/SF
NOI
$41.5K $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%
$830,640
Cap Rate 7%
$593,314
Cap Rate 9%
$461,467
Alternative Uses
Best Use
Office B
$593.3K
$519.2K – $692.2K
NOI $41,532 @ 7.0% cap · market cap 6.93%
Second Best
Retail
$394.0K
$344.7K – $459.7K
NOI $27,579 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$646.4K
$565.6K – $754.1K
NOI $45,248 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,343
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
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Frequently Asked Questions
What type of property is this?
Office units - Concrete-block office property with flexible unit configuration, dedicated parking, and separately metered electric service.
Where is this office units located?
The property is located at 1311 S MISSOURI Clearwater, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,304‑square‑foot office building divided into Units A, B, and C; Unit A: approximately 768 Sq Ft with central HVAC and 1 restroom; Units B and C combined: approximately 1,536 sq ft with 2 restrooms
