Leased Flex Warehouse
For Sale
Contact for pricing
1603 SUNSHINE DR, Clearwater, FL 33765
Multi-tenant warehouse/flex building with four equal units, 100% sprinklered, and 12-by-10 overhead doors.
Property Size20,000 SF
Price / SF$180
Days on Market37
Property Features for 1603 SUNSHINE DR
General Information
Standard status
Active
Size
20,000 SF
Total Parking Spaces
30
Property subtype
INDUSTRIAL
Zoning
E-1
Occupancy
100%
Additional Details
Sprinkler System
Yes
Building Details
Year Built
1972
Tenancy
Multi
Listing Agency:
Ross Realty Group, Inc.
(727) 639-3800
Listed By:
Elliott M. Ross, CCIM · License #BK416734
(727) 639-3800
Source:
Moodyscre
Added: Jun 25
Changed: Jul 22
Last Checked: Jul 22 at 10:59AM
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 Ross Realty Group, Inc.
Investment Insights
Based on property information with market context.
This flex warehouse building is approximately 20,000 square feet and currently configured as four equally sized 5,000-square-foot units. The property is 100% sprinklered and designed for flexible industrial and light office use, with 12’ x 10’ overhead doors and 200-amp electrical service per unit. Parking totals 30 spaces.
The site is a corner lot located just east of Clearwater Airpark (CLW), between Belcher Rd and Hercules Ave. The building was built in 1972 and has undergone comprehensive remodeling including a new roof, AC units, front awnings, and asphalt improvements.
Zoned E-1 (Pinellas County), the property supports a broad range of light industrial, flex, and office uses. The property is currently 100% leased, with one tenant (Pro Housing) set to vacate on 11/30/26, presenting an owner-occupant opportunity at that time.
The site is a corner lot located just east of Clearwater Airpark (CLW), between Belcher Rd and Hercules Ave. The building was built in 1972 and has undergone comprehensive remodeling including a new roof, AC units, front awnings, and asphalt improvements.
Zoned E-1 (Pinellas County), the property supports a broad range of light industrial, flex, and office uses. The property is currently 100% leased, with one tenant (Pro Housing) set to vacate on 11/30/26, presenting an owner-occupant opportunity at that time.
Key Highlights
- 20,000 SF warehouse/flex building on a corner lot just east of Clearwater Airpark (CLW) between Belcher Rd and Hercules Ave
- 4 equally sized 5,000 SF units; 100% sprinklered and configured as a multi‑tenant warehouse/flex property
- Each unit features 12' x 10' overhead doors and 200‑amp electrical power
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $295.2k | $14.76 |
| − Vacancy | −$16.8k | −$0.84 |
| EGI | $278.4k | $13.92 |
| − OpEx | −$97.4k | −$4.87 |
| NOI | $180.9k | $9.05 |
20,000 SF · lease $14.76/SF/yr · vacancy 5.70% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$2.58M
$2.26M – $3.02M
NOI $180,943 @ 7.0% cap · market cap 5.03%
Second Best
Warehouse
$2.41M
$2.11M – $2.81M
NOI $168,429 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$5.61M
$4.91M – $6.55M
NOI $392,782 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,450
Businesses Nearby
Under-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.
Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant warehouse/flex building with four equal units, 100% sprinklered, and 12-by-10 overhead doors.
Where is this flex space located?
The property is located at 1603 SUNSHINE DR Clearwater, FL.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 20,000 SF warehouse/flex building on a corner lot just east of Clearwater Airpark (CLW) between Belcher Rd and Hercules Ave; 4 equally sized 5,000 SF units; 100% sprinklered and configured as a multi‑tenant warehouse/flex property; Each unit features 12' x 10' overhead doors and 200‑amp electrical power
