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    Medical Office on US Highway Title is generated by Realmo AI

    28960 US HIGHWAY 19 N, Clearwater, FL 33761

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    Claim this Listing
    Pending
    $265,000

    Office - CLEARWATER, FL

    Type:Office
    Property size:
    1,106 SF
    Lot size:
    1.87 Acres
    Added:
    Mar 3, 2025
    Days on Market:
    441
    Last Refresh:
    May 18 at 4:06 am

    Property Features for 28960 US HIGHWAY 19 N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Pending
    APN
    19-28-16-18668-000-1120
    Size
    1,106 SF
    Lot size
    1.87 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3029.77

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1980
    Architectural style
    Other

    We can help!

    Listing Contact
    Russ Hodill
    Russ Hodill

    Listing agent Russ Hodill License #3322191

    Listing office COLDWELL BANKER REALTY 2933 West Bay Drive, Plant City, FL

    Listing date Mar 3, 2025

    MLS# TB8358224 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Move‑in ready medical office space, ideal for various medical uses or to continue an acupuncture/wellness practice.
    • High visibility location on US 19, with over 100,000 vehicles passing daily.
    • Centrally located to serve Pinellas County with accessibility to Pasco & Hillsborough counties.
    • $242 Million road improvement project underway to reduce drive times and improve access.
    • Existing floor plan includes 5 exam rooms with sinks, waiting/reception area, private office, and 2 restrooms.
    • Seller financing options available.

    Overview

    This medical office is centrally located on a main thoroughfare with high visibility, exposed to over 100,000 vehicles daily from US 19. The property is designed to serve the entire Pinellas County market and offers relatively easy access to Pasco and Hillsborough counties. The current floor plan includes 5 exam rooms with sinks, a waiting/reception area, 1 private office, 2 restrooms, a washer/dryer, and a rear room suitable for various functions. The infrastructure and configuration can support a wide array of medical uses, or facilitate the continuation of an acupuncture and wellness practice. A $242 million road improvement project is underway on this stretch of US 19, expected to reduce drive times, improve access, and include a pedestrian overpass upon completion. Access from the North along US 19 remains relatively unimpacted by the interim construction, while access from the South can be managed via alternative routes to Curlew Road. The property size is 1106 square feet and it sits on a 1.87-acre lot.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $221.5K
    NOI $19,937 @ 9.00% cap · cautious / downside scenario
    Moderate
    $284.8K
    NOI $19,937 @ 7.00% cap · market / base-case scenario
    Aggressive
    $398.7K
    NOI $19,937 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $28.8k $26.04
    − Vacancy −$2.2k −$2.01
    EGI $26.6k $24.03
    − OpEx −$6.6k −$6.01
    NOI $19.9k $18.03
    1,106 SF · lease $26.04/SF/yr · vacancy 7.70% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $284.8K
    $249.2K – $332.3K (±1% cap)
    NOI $19,937 @ 7.0% cap · market cap 7.52%
    Second Best
    Healthcare Medical
    $208.2K
    $182.2K – $242.9K (±1% cap)
    NOI $14,573 @ 7.0% cap · market cap 5.50%
    Theoretical Best
    Office A
    $310.3K
    $271.5K – $362.0K (±1% cap)
    NOI $21,721 @ 7.0% cap · market cap 8.20%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Better Health Medical ... Medical Clinic Serenity Sleep Solutions Medical Clinic Michael Buric - State ... Insurance Agency Dr. Jose L. ... Physician All Femcare Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Bendit M DVM — 2420 State Rd 580, Clearwater, FL 33761
    • Veterinary Medical Hospital Of Clearwater — 2420 State Rd 580, Clearwater, FL 33761
    • Banfield Pet Hospital — 26277 US Hwy 19 N, Clearwater, FL 33761

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.739424
    Latitude
    28.035556

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    FAQs

    What type of property is this?
    Medical Office Space - Well-located medical office suitable for various medical or wellness uses.
    Where is this medical office space located?
    The property is located at 28960 US HIGHWAY 19 N Clearwater, FL.
    What is the asking price?
    The asking price for this property is $265,000.
    What are key features of this property?
    This property features: Move‑in ready medical office space, ideal for various medical uses or to continue an acupuncture/wellness practice.; High visibility location on US 19, with over 100,000 vehicles passing daily.; Centrally located to serve Pinellas County with accessibility to Pasco & Hillsborough counties.
    (727) 417-2413
    We can help!
    Listing Contact
    Russ Hodill
    Russ Hodill
    Real Estate License ID: 3322191
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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