Executive Office Condo
For Sale
$225,000
Pending
2424 ENTERPRISE ROAD #A, Clearwater, FL 33763
Office condo suite with three interior offices, reception/sitting area, kitchen, bathroom, and storage room.
Property Size890 SF
Days on Market54
Property Features for 2424 ENTERPRISE ROAD #A
General Information
Standard status
Pending
Size
890 SF
Property subtype
Office
Amenities
0.85 acres
Public Sewer
Additional parcels description:, Parcel Number: 31-28-16-20215-000-0010, Public Survey Range: 16, Public Survey Section: 31, Annual Amount: $2,719.96, Tax Block: 00, Tax Book Number: 78-46, Legal Description: CYPRESSVIEW PROFESSIONAL CENTER CONDO UNIT A, Lot: 00, Year: 2025, Zoning: A-E
Carpet
Central Air
Central
Listing ID: MFRTB8527753, Standard Status: Pending, MLS Status: Pending, Property Subtype: Office, On market as of 2026-07-09, Off market as of 2026-08-16, 38 days on market, Special Conditions: None
Built in 1984, Living area: 890, Living area units: Square Feet, Building faces North, 1 storey, Levels: One, Construction Materials: Block
Subdivision: CYPRESSVIEW PROFESSIONAL, MLS Area (Major): 33763 - Clearwater, County/Parish: Pinellas
Completed
Sidewalks
Public, Water Source: Public
Slab
Close Of Escrow
Frontage Type: Access Road, City Street, Road Responsibility: Private Maintained Road, Public Maintained Road, Road Surface: Asphalt
Building Details
Year Built
1984
Tenancy
Multi
Listing Agency:
RE/MAX REALTEC GROUP INC
(727) 789-5555
Listed By:
Mark Ganier · License #201
Source:
Miharaandassociates
Added: Jul 9
Changed: Aug 31
Last Checked: Aug 31 at 2:06PM
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 RE/MAX REALTEC GROUP INC
Investment Insights
Based on property information with market context.
Suite A is an executive office condo within the Cypressview Professional Center. The space includes three large interior offices, a large reception/sitting room, a kitchen area, one bathroom, and a storage room. Interior features include vaulted ceilings and abundant natural light.
The condo is located on Enterprise Road, just west of U.S. Highway 19, within a professionally maintained office environment. The property is part of an association with monthly fees of $429.15.
Suite A has been occupied for many years by a long-term professional tenant, and the other suites are also occupied by similarly long-term professionals. This configuration supports ownership as either an owner-user space or a rental investment, depending on the buyer’s objectives.
The condo is located on Enterprise Road, just west of U.S. Highway 19, within a professionally maintained office environment. The property is part of an association with monthly fees of $429.15.
Suite A has been occupied for many years by a long-term professional tenant, and the other suites are also occupied by similarly long-term professionals. This configuration supports ownership as either an owner-user space or a rental investment, depending on the buyer’s objectives.
Key Highlights
- 890 SF executive office condo suite (Suite A) in Cypressview Professional Center
- Suite A layout includes 3 large interior offices, a reception/sitting room, kitchen area, 1 bathroom, and storage room
- 1984‑built professional center with vaulted ceilings and abundant natural light
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
$16,043
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
7.13%
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%
$320,860
$320.9K
Cap Rate 7%
$229,186
$229.2K
Cap Rate 9%
$178,256
$178.3K
Market Conditions
NOI Build-Up for 890 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
$23.2K $26.04/SF
− Vacancy
−$1.8K −$2.01/SF
EGI
$21.4K $24.03/SF
− OpEx
−$5.3K −$6.01/SF
NOI
$16.0K $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%
$320,860
Cap Rate 7%
$229,186
Cap Rate 9%
$178,256
Alternative Uses
Best Use
Office B
$229.2K
$200.5K – $267.4K
NOI $16,043 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$249.7K
$218.5K – $291.3K
NOI $17,479 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,310
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condo suite with three interior offices, reception/sitting area, kitchen, bathroom, and storage room.
Where is this office units located?
The property is located at 2424 ENTERPRISE ROAD #A Clearwater, FL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 890 SF executive office condo suite (Suite A) in Cypressview Professional Center; Suite A layout includes 3 large interior offices, a reception/sitting room, kitchen area, 1 bathroom, and storage room; 1984‑built professional center with vaulted ceilings and abundant natural light
