Freestanding Office
For Sale
Contact for pricing
2364 Boy Scout Rd, Clearwater, FL 33763
Freestanding office building with private rooms and open areas, with fire sprinklers, alarm panel, and backup generator.
Property Size5,467 SF
Price / SF$274.19
Days on Market169
Property Features for 2364 Boy Scout Rd
General Information
Standard status
Active
Size
5,467 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Sprinkler System
Yes
Listing Agency:
A.R.K. Property Solutions, Inc.
(727) 796-2684
Listed By:
Benjamin Kreloff
(727) 643-2314
Source:
Moodyscre
Added: Apr 2
Changed: Sep 7
Last Checked: Sep 15 at 9:50AM
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 A.R.K. Property Solutions, Inc.
Investment Insights
Based on property information with market context.
This freestanding office building offers a practical interior layout with private rooms, open areas, and flexible space suited to medical or professional office users. The building includes a fire alarm panel, a full fire sprinkler system, and a dedicated backup generator.
The property is located within Drew Professional Park with direct frontage on Drew Street, and is described as close to U.S. Hwy 19 and Gulf to Bay Blvd.
Previously used as a Prescribed Pediatric Extended Care (PPEC) facility, the space is configured for care-oriented operations and may support alternative uses such as daycare, subject to zoning and permitting.
The property is located within Drew Professional Park with direct frontage on Drew Street, and is described as close to U.S. Hwy 19 and Gulf to Bay Blvd.
Previously used as a Prescribed Pediatric Extended Care (PPEC) facility, the space is configured for care-oriented operations and may support alternative uses such as daycare, subject to zoning and permitting.
Key Highlights
- Freestanding office building in Drew Professional Park with direct frontage on Drew Street
- Previously used as a PPEC (Prescribed Pediatric Extended Care) facility with private rooms, open areas, and flexible space
- Equipped with a full fire sprinkler system and a fire alarm panel
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
$98,549
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
6.57%
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%
$1,970,980
$2.0M
Cap Rate 7%
$1,407,843
$1.4M
Cap Rate 9%
$1,094,989
$1.1M
Market Conditions
NOI Build-Up for 5,467 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
$142.4K $26.04/SF
− Vacancy
−$11.0K −$2.01/SF
EGI
$131.4K $24.03/SF
− OpEx
−$32.8K −$6.01/SF
NOI
$98.5K $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%
$1,970,980
Cap Rate 7%
$1,407,843
Cap Rate 9%
$1,094,989
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.64M
NOI $98,549 @ 7.0% cap · market cap 6.57%
Second Best
Healthcare Medical
$1.03M
$900.4K – $1.20M
NOI $72,033 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,367 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
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?
Medical Office Space - Freestanding office building with private rooms and open areas, with fire sprinklers, alarm panel, and backup generator.
Where is this medical office space located?
The property is located at 2364 Boy Scout Rd Clearwater, FL.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Freestanding office building in Drew Professional Park with direct frontage on Drew Street; Previously used as a PPEC (Prescribed Pediatric Extended Care) facility with private rooms, open areas, and flexible space; Equipped with a full fire sprinkler system and a fire alarm panel
