Tire Choice Auto
For Sale
Contact for pricing
235 South Belcher Road, Clearwater, FL 33765
Corporate-guaranteed automotive service property with an established tire and repair operation.
Property Size5,612 SF
Lot Size0.71 Acres
Price / SF$286.89
Days on Market96
Property Features for 235 South Belcher Road
General Information
Standard status
Active
Size
5,612 SF
Lot size
0.71 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$86,943
Financials
Asking Price
$1,610,000
Cap Rate
5.4%
Building Details
Year Built
1994
Year Renovated
2019
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Jack Kulick · License #C02126798
Source:
Crexi
Added: May 28
Changed: Aug 31
Last Checked: Aug 31 at 2:07AM
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 Matthews
Investment Insights
Based on property information with market context.
This 5,612-square-foot auto shop was built in 1994 and operates as a Tire Choice Auto Service Center. The property is situated on an approximately 0.71-acre parcel, providing a larger site configuration for an automotive service use. The lease has no remaining options and is structured with a short term, while Monro provides the corporate guaranty.
The property is located at 235 South Belcher Road in Clearwater, Florida, within the Tampa Bay MSA. The surrounding three-mile trade area includes approximately 115,000 residents. The asset reports a 5.40% cap rate and is positioned within the automotive service and tire sector.
The property is located at 235 South Belcher Road in Clearwater, Florida, within the Tampa Bay MSA. The surrounding three-mile trade area includes approximately 115,000 residents. The asset reports a 5.40% cap rate and is positioned within the automotive service and tire sector.
Key Highlights
- 5612‑square‑foot auto shop on approximately 0.71 acres
- Built in 1994
- Lease backed by a corporate guaranty from Monro
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
$67,176
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
4.17%
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%
$1,343,520
$1.3M
Cap Rate 7%
$959,657
$959.7K
Cap Rate 9%
$746,400
$746.4K
Market Conditions
NOI Build-Up for 5,612 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
$101.0K $18.00/SF
− Vacancy
−$5.1K −$0.90/SF
EGI
$96.0K $17.10/SF
− OpEx
−$28.8K −$5.13/SF
NOI
$67.2K $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%
$1,343,520
Cap Rate 7%
$959,657
Cap Rate 9%
$746,400
Alternative Uses
Best Use
Retail
$959.7K
$839.7K – $1.12M
NOI $67,176 @ 7.0% cap · market cap 4.17%
Second Best
Industrial
$588.0K
$514.5K – $686.0K
NOI $41,158 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,215 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,460
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Corporate-guaranteed automotive service property with an established tire and repair operation.
Where is this auto shop located?
The property is located at 235 South Belcher Road Clearwater, FL.
What is the asking price?
The asking price for this property is $1,610,000.
What are key features of this property?
This property features: 5612‑square‑foot auto shop on approximately 0.71 acres; Built in 1994; Lease backed by a corporate guaranty from Monro
