Multi-Suite Office
New
For Sale
$1,275,000
2729 STATE ROAD 580, Clearwater, FL 33761
Renovated interiors and a layout that can be configured for multiple office users support flexible occupancy.
Property Size4,058 SF
Price / SF$314.19
Days on Market3
Property Features for 2729 STATE ROAD 580
General Information
Standard status
Active
Size
4,058 SF
Property subtype
Office
Amenities
upgraded restrooms
kitchen
0.33 acres, Dimensions: 120x119
Built-Up
Additional parcels description:, Parcel Number: 28-28-16-00036-001-0060, Public Survey Range: 16, Public Survey Section: 28, Annual Amount: $10,439.9, Tax Block: 1, Tax Book Number: 30-91, Legal Description: ACKER'S SUB BLK 1, LOTS 6 & 7 LESS RD R/W ON NW, Lot: 6, Year: 2025
Central Air
Listing ID: MFRTB8552585, Standard Status: Active, MLS Status: Active, Property Subtype: Office, On market as of 2026-09-30, Special Conditions: None
Built in 2000, Living area: 4058, Living area units: Square Feet, 2 stories, Construction Materials: Block
Subdivision: ACKERS SUB, MLS Area (Major): 33761 - Clearwater, County/Parish: Pinellas
Slab
Frontage Type: State Road, Road Surface: Asphalt
Building Details
Year Built
2000
Year Renovated
2021
Buildings
1
Building Size
4,058 SF
Listing Agency:
1 PALM REALTY
(727) 351-2402
Listed By:
Meltem Birey · License #3413435
Source:
Miharaandassociates
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 9:37AM
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 1 PALM REALTY
Investment Insights
Based on property information with market context.
This 4,058-square-foot office building was constructed in 2000 and renovated in 2018 and 2021. Its interior includes office areas, an updated kitchen and upgraded restrooms. The floor plan can be divided into multiple suites, allowing occupancy of the full building or selected portions while other space is leased.
The property sits near the McMullen Booth Road and SR-580 intersection in Clearwater. More than 40,000 vehicles pass daily, according to the property information.
The property sits near the McMullen Booth Road and SR-580 intersection in Clearwater. More than 40,000 vehicles pass daily, according to the property information.
Key Highlights
- 4,058‑square‑foot office building
- Renovations completed in 2018 and 2021
- Layout can be divided into multiple suites
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
$73,150
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
5.74%
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%
$1,463,000
$1.5M
Cap Rate 7%
$1,045,000
$1.0M
Cap Rate 9%
$812,778
$812.8K
Market Conditions
NOI Build-Up for 4,058 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
$105.7K $26.04/SF
− Vacancy
−$8.1K −$2.01/SF
EGI
$97.5K $24.03/SF
− OpEx
−$24.4K −$6.01/SF
NOI
$73.2K $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%
$1,463,000
Cap Rate 7%
$1,045,000
Cap Rate 9%
$812,778
Alternative Uses
Best Use
Office B
$1.05M
$914.4K – $1.22M
NOI $73,150 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$996.2K – $1.33M
NOI $79,695 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
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Business Placement
Demographics for 33761, FL
18,761
Population
9,829
Households
1.9
Avg Household Size
54
Median Age
38%
College-Educated
94%
High-School Grad
5.1 sq mi
ZIP Area
3,679
Density / Sq Mi
$71,839
Median Household Income
$50,110
Median Earnings
$1,711
Median Rent
$271,100
Median Home Value
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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 interiors and a layout that can be configured for multiple office users support flexible occupancy.
Where is this office building located?
The property is located at 2729 STATE ROAD 580 Clearwater, FL.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 4,058‑square‑foot office building; Renovations completed in 2018 and 2021; Layout can be divided into multiple suites
