Fully Leased Professional Office
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2362 Sunset Point Road, Clearwater, FL 33763
Renovated professional office property with medical, financial, and other established service tenants.
Property Size5,834 SF
Price / SF$355.67
Days on Market4
Property Features for 2362 Sunset Point Road
General Information
Standard status
Active
Size
5,834 SF
Total Parking Spaces
50
Property subtype
Office, Hospitality, Mixed Use
Occupancy
100%
Building Details
Year Renovated
2019
Buildings
1
Building Size
5,834 SF
Tenancy
Multi
Parking Ratio
8.57 per 1,000 SF
Listing Agency:
Harris & Company
Listed By:
David Harris · License #FL
Source:
Crexi
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 2:05PM
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 Harris & Company
Investment Insights
Based on property information with market context.
This 5,834-square-foot office building is fully leased to a complementary tenant roster that includes BayCare Medical Group, BayCare Laboratories, Sunset Point Dentistry, Retire Pro, and Bonomo Realty. The tenancy represents healthcare, financial, dental, and professional service uses within a single office property.
Located at 2362 Sunset Point Road in Clearwater, Florida, the building fronts Sunset Point Road, an east-west corridor in Pinellas County. Significant renovations were completed in 2019, and the roof was completed in 2026. The property includes 50 parking spaces, equal to approximately 8.57 spaces per 1,000 square feet, supporting its professional and medical office configuration.
Located at 2362 Sunset Point Road in Clearwater, Florida, the building fronts Sunset Point Road, an east-west corridor in Pinellas County. Significant renovations were completed in 2019, and the roof was completed in 2026. The property includes 50 parking spaces, equal to approximately 8.57 spaces per 1,000 square feet, supporting its professional and medical office configuration.
Key Highlights
- 5,834‑square‑foot office building at 2362 Sunset Point Road, Clearwater, FL 33763
- 100% leased to BayCare Medical Group, BayCare Laboratories, Sunset Point Dentistry, Retire Pro, and Bonomo Realty
- Tenant mix includes healthcare, dental, financial, and professional service uses
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
$105,165
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%
$2,103,300
$2.1M
Cap Rate 7%
$1,502,357
$1.5M
Cap Rate 9%
$1,168,500
$1.2M
Market Conditions
NOI Build-Up for 5,834 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
$151.9K $26.04/SF
− Vacancy
−$11.7K −$2.01/SF
EGI
$140.2K $24.03/SF
− OpEx
−$35.1K −$6.01/SF
NOI
$105.2K $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%
$2,103,300
Cap Rate 7%
$1,502,357
Cap Rate 9%
$1,168,500
Alternative Uses
Best Use
Office B
$1.50M
$1.31M – $1.75M
NOI $105,165 @ 7.0% cap · market cap 5.07%
Second Best
Healthcare Medical
$1.10M
$960.9K – $1.28M
NOI $76,869 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,575 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,094
Businesses Nearby
Explore this area
Business Placement
Demographics for 33763, FL
18,981
Population
11,638
Households
1.6
Avg Household Size
58
Median Age
28%
College-Educated
93%
High-School Grad
3.4 sq mi
ZIP Area
5,583
Density / Sq Mi
$53,552
Median Household Income
$36,730
Median Earnings
$1,447
Median Rent
$215,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Renovated professional office property with medical, financial, and other established service tenants.
Where is this office building located?
The property is located at 2362 Sunset Point Road Clearwater, FL.
What is the asking price?
The asking price for this property is $2,075,000.
What are key features of this property?
This property features: 5,834‑square‑foot office building at 2362 Sunset Point Road, Clearwater, FL 33763; 100% leased to BayCare Medical Group, BayCare Laboratories, Sunset Point Dentistry, Retire Pro, and Bonomo Realty; Tenant mix includes healthcare, dental, financial, and professional service uses
