Medical Office
For Sale
$262,500
Pending
2323 Curlew Road Unit 7C, Dunedin, FL 34698
A turn-key medical office condo with two entrances, private offices, and ample shared parking within a dedicated medical complex.
Property Size1,050 SF
Days on Market94
Property Features for 2323 Curlew Road Unit 7C
General Information
Standard status
Pending
Size
1,050 SF
Total Parking Spaces
180
Property subtype
Office
Building Details
Year Built
1986
Listing Agency:
FUTURE HOME REALTY INC
(813) 855-4982
Listed By:
James Bailey · License #3368352
Source:
Xome
Added: May 5
Changed: Jul 10
Last Checked: Jul 16 at 4:54AM
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 FUTURE HOME REALTY INC
Investment Insights
Based on property information with market context.
This medical office condo is located within the Courtyard Centre medical complex and is configured for professional use with two private offices, an open work area, and a single bathroom. The unit provides two entrances, supporting convenient patient or staff flow. A new roof was installed late 2025, helping position the space for immediate occupancy.
The property is situated on Curlew Road in Dunedin near the signalized intersection of US 19. The listing also notes over 180 shared parking spaces available, which can help accommodate patient parking and day-to-day access for a range of schedules.
With its compact layout and multiple access points, this suite can be a practical fit for a small medical practice or a professional business seeking space within an established medical tenant mix. The unit can also be combined with adjacent medical office units listed in the same complex, which may be useful for organizations looking to expand their footprint without leaving the medical center environment.
The property is situated on Curlew Road in Dunedin near the signalized intersection of US 19. The listing also notes over 180 shared parking spaces available, which can help accommodate patient parking and day-to-day access for a range of schedules.
With its compact layout and multiple access points, this suite can be a practical fit for a small medical practice or a professional business seeking space within an established medical tenant mix. The unit can also be combined with adjacent medical office units listed in the same complex, which may be useful for organizations looking to expand their footprint without leaving the medical center environment.
Key Highlights
- 1,050 SF medical office condo in the Courtyard Centre medical complex on Curlew Road in Dunedin
- Two private offices plus an open work area, with one bathroom
- Two entrances to the unit
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
$16,303
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
6.21%
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%
$326,060
$326.1K
Cap Rate 7%
$232,900
$232.9K
Cap Rate 9%
$181,144
$181.1K
Market Conditions
NOI Build-Up for 1,050 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
$27.3K $26.04/SF
− Vacancy
−$5.6K −$5.34/SF
EGI
$21.7K $20.70/SF
− OpEx
−$5.4K −$5.18/SF
NOI
$16.3K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
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%
$326,060
Cap Rate 7%
$232,900
Cap Rate 9%
$181,144
Alternative Uses
Best Use
Office B
$232.9K
$203.8K – $271.7K
NOI $16,303 @ 7.0% cap · market cap 6.21%
Second Best
Healthcare Medical
$138.3K
$121.1K – $161.4K
NOI $9,684 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$273.1K
$239.0K – $318.6K
NOI $19,118 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,116
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34698, FL
38,010
Population
22,016
Households
1.7
Avg Household Size
56
Median Age
36%
College-Educated
95%
High-School Grad
11.2 sq mi
ZIP Area
3,394
Density / Sq Mi
$67,323
Median Household Income
$44,747
Median Earnings
$1,571
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?
Medical Office Space - A turn-key medical office condo with two entrances, private offices, and ample shared parking within a dedicated medical complex.
Where is this medical office space located?
The property is located at 2323 Curlew Road Unit 7C Dunedin, FL.
What is the asking price?
The asking price for this property is $262,500.
What are key features of this property?
This property features: 1,050 SF medical office condo in the Courtyard Centre medical complex on Curlew Road in Dunedin; Two private offices plus an open work area, with one bathroom; Two entrances to the unit
