Office Condo with Multiple Private
For Sale
$350,000
611 DRUID Road E, Clearwater, FL 33756
SINGLE_FAMILY - CLEARWATER, FL
Property Size1,935 SF
Lot Size1.16 Acres
Price / SF$180.88
Days on Market185
Property Features for 611 DRUID Road E
General Information
Property type
Residential
Property subtype
Office
Window features
Blinds
Appliances
Microwave, Refrigerator
Subdivision
DRUHILL PROFESSIONAL
Directions
From Druid any direction turn into the parking lot and go around to the right. The office in the courtyard of the first building. When putting directions into a map program do not forget to put the "east" in 611 Druid St. East. Otherwise you might end up in the wrong place.
Standard status
Active
APN
16-29-15-22620-000-7070
Size
1,935 SF
Lot size
1.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
DRUHILL PROFESSIONAL CENTER CONDO PHASE VII-A, UNIT 707, and, DRUHILL PROFESSIONAL CENTER CONDO PHASE VII-A, UNIT 708
Tax Annual Amount
1911
Legal Description
DRUHILL PROFESSIONAL CENTER CONDO PHASE VII-A, UNIT 707, and, DRUHILL PROFESSIONAL CENTER CONDO PHASE VII-A, UNIT 708
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Floors in Building
1
Flooring type
Laminate, Vinyl
Building materials
Block
Listing Agency:
HOMEFRONT REALTY
(727) 641-4444
Listed By:
DJ Northrop · License #3579962
(727) 612-4220
Added: Feb 8
Changed: Aug 2
Last Checked: Aug 12 at 7:06PM
MLS# TB8474508
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.
Investment Insights
Based on property information with market context.
Downtown Clearwater office condo in a block construction building (built in 1983) with central air and public water and public sewer. Units 707 and 708 have been combined to create a 1,935 SF suite configured with five private offices, a conference room, an additional meeting area, two bathrooms (one includes a shower), a kitchen, a lobby, and a large storage room that could be used as a smaller sixth private office. Flooring includes vinyl and laminate, and the unit has a microwave and refrigerator. Phone service is available.
The 1.16-acre property offers ample parking, described as 4 spaces per 1,000 SF. The building is maintained with condo building maintenance, roof, landscaping, sewer, trash, water, management fees and reserves, and liability and casualty insurance.
This layout supports professional office use and is well suited for medical office or other professional services that benefit from multiple private offices, meeting rooms, and a dedicated storage area.
The 1.16-acre property offers ample parking, described as 4 spaces per 1,000 SF. The building is maintained with condo building maintenance, roof, landscaping, sewer, trash, water, management fees and reserves, and liability and casualty insurance.
This layout supports professional office use and is well suited for medical office or other professional services that benefit from multiple private offices, meeting rooms, and a dedicated storage area.
Key Highlights
- 1,935 SF office condo suite formed by combining units 707 and 708
- Five private offices plus conference room and additional meeting area
- Two bathrooms, including one 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
$25,496
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
7.28%
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%
$509,920
$509.9K
Cap Rate 7%
$364,229
$364.2K
Cap Rate 9%
$283,289
$283.3K
Market Conditions
NOI Build-Up for 1,935 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
$46.4K $24.00/SF
− Vacancy
−$3.9K −$2.04/SF
EGI
$42.5K $21.96/SF
− OpEx
−$17.0K −$8.78/SF
NOI
$25.5K $13.18/SF
Area
Clearwater, FL
Vacancy
8.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$509,920
Cap Rate 7%
$364,229
Cap Rate 9%
$283,289
Alternative Uses
Best Use
Office B
$498.3K
$436.0K – $581.4K
NOI $34,881 @ 7.0% cap · market cap 9.97%
Second Best
Healthcare Medical
$364.2K
$318.7K – $424.9K
NOI $25,496 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$542.9K
$475.0K – $633.4K
NOI $38,002 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
Explore this area
Business Placement
Demographics for 33756, FL
31,807
Population
15,474
Households
2.1
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
7.2 sq mi
ZIP Area
4,418
Density / Sq Mi
$63,990
Median Household Income
$38,563
Median Earnings
$1,382
Median Rent
$335,800
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 - Downtown Clearwater office condo with central air, public utilities, and five private offices plus conference space.
Where is this office units located?
The property is located at 611 DRUID Road E Clearwater, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,935 SF office condo suite formed by combining units 707 and 708; Five private offices plus conference room and additional meeting area; Two bathrooms, including one with a shower
