Ground-Floor Office
For Sale
Contact for pricing
Pending
3023 Eastland Blvd, Clearwater, FL 33761
Three private offices, a conference room, kitchenette, shower-equipped restroom, and waiting area support varied professional layouts.
Property Size1,260 SF
Days on Market208
Property Features for 3023 Eastland Blvd
General Information
Standard status
Pending
Size
1,260 SF
Class
B
Property subtype
Office
Listing Agency:
Wikle Real Estate, Inc.
Listed By:
Gee Thompson · License #SL3615999
Source:
Crexi
Added: Feb 4
Changed: Aug 29
Last Checked: Aug 31 at 4:12AM
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 Wikle Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 1,260-square-foot office condo occupies a ground-floor suite at 3023 Eastland Blvd in Clearwater. The layout includes three offices, a conference room, kitchenette, restroom with a shower, waiting area, and a brick-and-glass reception desk. Large windows bring natural light into the space and offer room for branded graphics visible from outside.
The suite has new carpet and freshly painted walls, providing a clean, professional setting for office operations. Its configuration combines private work areas, meeting space, reception, and staff amenities within a single commercial unit. The property is positioned near retailers, corporations, entertainment facilities, schools, medical and dental providers, and other business professionals.
The suite has new carpet and freshly painted walls, providing a clean, professional setting for office operations. Its configuration combines private work areas, meeting space, reception, and staff amenities within a single commercial unit. The property is positioned near retailers, corporations, entertainment facilities, schools, medical and dental providers, and other business professionals.
Key Highlights
- 1,260‑square‑foot ground‑floor office condo
- Three offices plus a conference room
- Kitchenette and restroom with a shower
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
$22,713
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
6.68%
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%
$454,260
$454.3K
Cap Rate 7%
$324,471
$324.5K
Cap Rate 9%
$252,367
$252.4K
Market Conditions
NOI Build-Up for 1,260 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
$32.8K $26.04/SF
− Vacancy
−$2.5K −$2.01/SF
EGI
$30.3K $24.03/SF
− OpEx
−$7.6K −$6.01/SF
NOI
$22.7K $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%
$454,260
Cap Rate 7%
$324,471
Cap Rate 9%
$252,367
Alternative Uses
Best Use
Office B
$324.5K
$283.9K – $378.6K
NOI $22,713 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$353.5K
$309.3K – $412.4K
NOI $24,745 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
Explore this area
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
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 - Three private offices, a conference room, kitchenette, shower-equipped restroom, and waiting area support varied professional layouts.
Where is this office units located?
The property is located at 3023 Eastland Blvd Clearwater, FL.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1,260‑square‑foot ground‑floor office condo; Three offices plus a conference room; Kitchenette and restroom with a shower
