Clearwater Industrial Park
For Sale
$4,150,000
1555 SUNSHINE DRIVE, Clearwater, FL 33765
Spacious warehouse with offices, loading dock, and ample parking.
Property Size24,977 SF
Lot Size1.29 Acres
Price / SF$166.15
Days on Market220
Property Features for 1555 SUNSHINE DRIVE
General Information
Standard status
Active
Size
24,977 SF
Lot size
1.29 Acres
Property subtype
Business Opportunities
Taxes and HOA fees
Annual Taxes
$26,433
Amenities
Central Air
3
Security Lighting. City Road, Asphalt.
Building Details
Year Built
1969
Listing Agency:
ALEXANDROS REAL ESTATE GROUP
(727) 595-4545
Listed By:
Dennis White
Source:
Xome
Added: Jan 22
Changed: Aug 25
Last Checked: Aug 29 at 7:01AM
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 ALEXANDROS REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
Located in Clearwater Industrial Park, this industrial warehouse offers over 25,000 square feet of space on a 1.29-acre lot. Constructed in 1969 and partially rebuilt in 2004, the property features a reception entry, two conference rooms, nine offices, a kitchen/breakroom, and four restrooms. Over 10,000 square feet of the warehouse is air-conditioned, with the remaining area fan-cooled. The warehouse includes a loading dock and two bays. The property provides ample parking spaces and is situated in Flood Zone X. The location offers a bike score of 70, indicating it is very bikeable, a walk score of 73, indicating it is very walkable, and a transit score of 33, indicating some transit options are available. Situated next to CSX, the property offers possible spur access if needed.
Key Highlights
- Prime Industrial Warehouse with over 25,000 sq ft in Clearwater Industrial Park
- Boasts over 10,000 sq. ft air‑conditioned warehouse space
- Loading dock and 2 Bays for efficient operations
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
$210,342
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
5.07%
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%
$4,206,840
$4.2M
Cap Rate 7%
$3,004,886
$3.0M
Cap Rate 9%
$2,337,133
$2.3M
Market Conditions
NOI Build-Up for 24,977 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
$260.8K $10.44/SF
− Vacancy
−$13.3K −$0.53/SF
EGI
$247.5K $9.91/SF
− OpEx
−$37.1K −$1.49/SF
NOI
$210.3K $8.42/SF
Area
Clearwater, FL
Vacancy
5.10%
Lease Rate
$10.44 /SF/Yr
Expense Ratio
15.00%
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%
$4,206,840
Cap Rate 7%
$3,004,886
Cap Rate 9%
$2,337,133
Alternative Uses
Best Use
Warehouse
$3.00M
$2.63M – $3.51M
NOI $210,342 @ 7.0% cap · market cap 5.07%
Second Best
Industrial
$2.62M
$2.29M – $3.05M
NOI $183,178 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$7.01M
$6.13M – $8.18M
NOI $490,526 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,330
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33765, FL
13,844
Population
6,873
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
3,296
Density / Sq Mi
$61,910
Median Household Income
$40,535
Median Earnings
$1,585
Median Rent
$290,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Storage Sense - Clearwater — 2080 Palmetto St, Clearwater, FL 33765
- Life Storage - Clearwater — 1016 N Belcher Rd., Clearwater, FL 33765
- Flex Moving & Storage — 1067 N Hercules Ave ste 6, Clearwater, FL 33765
- Clearwater RV & Boat Storage — 1427 N Hercules Ave, Clearwater, FL 33765
- Tampa Bay Office Movers — 2100 Calumet St, Clearwater, FL 33765
Frequently Asked Questions
What type of property is this?
Warehouse - Spacious warehouse with offices, loading dock, and ample parking.
Where is this warehouse located?
The property is located at 1555 SUNSHINE DRIVE Clearwater, FL.
What is the asking price?
The asking price for this property is $4,150,000.
What are key features of this property?
This property features: Prime Industrial Warehouse with over 25,000 sq ft in Clearwater Industrial Park; Boasts over 10,000 sq. ft air‑conditioned warehouse space; Loading dock and 2 Bays for efficient operations
