Turn-Key Office Condo For
For Sale
$339,900
2841 EXECUTIVE DRIVE #200, Clearwater, FL 33762
1,606 SF office condo in Feathersound, move-in ready.
Property Size1,606 SF
Price / SF$211.64
Days on Market223
Property Features for 2841 EXECUTIVE DRIVE #200
General Information
Standard status
Active
Size
1,606 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,025
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Building Details
Year Built
1986
Listing Agency:
APRILE REAL ESTATE INC
(813) 532-6432
Listed By:
JASON APRILE · License #3204780
Source:
Corcoran
Added: Dec 30, 2025
Changed: Aug 8
Last Checked: May 10 at 8:43PM
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 APRILE REAL ESTATE INC
Investment Insights
Based on property information with market context.
This 1,606 square foot, second-floor office condo is available for sale. Constructed in 1986, the unit features an efficient and modern interior layout, including a recently added breakroom. The property is located in Feathersound, offering convenient access to Tampa via the Howard Franklin Bridge, St Pete/Clearwater International Airport, and major Pinellas County roadways. The complex consists of five buildings with abundant surface parking and landscaping. The location is near multiple hotels, Bascom’s Chop House, Publix, Courtside Grill, Topgolf, The Karol Hotel, and other restaurants and shops. Some furniture may be available upon request. The space is suitable for a small business seeking immediate occupancy without the need for major renovations.
Key Highlights
- Turn‑key, 1,606 SF 2nd‑floor office condo ready for immediate occupancy.
- Ideal Gateway location in Feathersound** with quick access to Tampa, St. Pete/Clearwater Airport (PIA), and major Pinellas County roadways.
- Efficient and modern interior layout with a recently added breakroom.
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
$28,950
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
8.52%
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%
$579,000
$579.0K
Cap Rate 7%
$413,571
$413.6K
Cap Rate 9%
$321,667
$321.7K
Market Conditions
NOI Build-Up for 1,606 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
$41.8K $26.04/SF
− Vacancy
−$3.2K −$2.01/SF
EGI
$38.6K $24.03/SF
− OpEx
−$9.7K −$6.01/SF
NOI
$29.0K $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%
$579,000
Cap Rate 7%
$413,571
Cap Rate 9%
$321,667
Alternative Uses
Best Use
Office B
$413.6K
$361.9K – $482.5K
NOI $28,950 @ 7.0% cap · market cap 8.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$450.6K
$394.3K – $525.7K
NOI $31,540 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 33762, FL
5,572
Population
3,117
Households
1.8
Avg Household Size
51
Median Age
52%
College-Educated
97%
High-School Grad
7.1 sq mi
ZIP Area
785
Density / Sq Mi
$91,024
Median Household Income
$51,596
Median Earnings
$1,711
Median Rent
$332,000
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 - 1,606 SF office condo in Feathersound, move-in ready.
Where is this office units located?
The property is located at 2841 EXECUTIVE DRIVE #200 Clearwater, FL.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Turn‑key, **1,606 SF 2nd‑floor office condo ready for immediate occupancy**.; Ideal Gateway location in Feathersound** with quick access to Tampa, St. Pete/Clearwater Airport (PIA), and major Pinellas County roadways.; Efficient and modern interior layout with a recently added breakroom.
