Two-Tenant Medical Office
616 E St, Clearwater, FL 33756
For Sale
Contact for pricing
The property houses primary care and outpatient gastroenterology and endoscopy practices.
Property Size11,555 SF
Price / SF$272.61
Days on Market12
Property Features for 616 E St
General Information
Standard status
Size
Property subtype
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Office Units
Property Use
Medical Specialty
Building Details
Buildings
Building Size
Tenancy
Listing Agency:
Acuity Private Capital
Listed By:
Bryan Webb · License FL #01826546
(415) 274-2717
Source:
Crexi
Added: Oct 30
Changed: Nov 8
Last Checked: Nov 8 at 5:01PM
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 Acuity Private Capital
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Investment Insights
Based on property information with market context.
At 616 E St in Clearwater, this 11,555-square-foot medical office building has two tenants: BayCare Medical Group and West Coast Endoscopy. BayCare operates a primary care practice, while West Coast Endoscopy provides gastroenterology and endoscopy services on an outpatient basis. West Coast Endoscopy has been at the site since 2000, and BayCare Medical Group began occupying the property in 2021. The listing title reports a 5.5-year WALT, and the leases include contractual rent growth.
The property is near Morton Plant Hospital, an approximately 599-bed facility serving more than 50,000 patients annually across more than 50 specialty areas. Within a three-mile radius, the surrounding trade area has approximately 95,000 residents.
The property is near Morton Plant Hospital, an approximately 599-bed facility serving more than 50,000 patients annually across more than 50 specialty areas. Within a three-mile radius, the surrounding trade area has approximately 95,000 residents.
Key Highlights
- 11,555‑square‑foot medical office building with two tenants
- BayCare Medical Group provides primary care at the property
- West Coast Endoscopy offers outpatient gastroenterology and endoscopy services
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$208,293
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,165,860
$4.2M
Cap Rate 7%
$2,975,614
$3.0M
Cap Rate 9%
$2,314,367
$2.3M
Market Conditions
NOI Build-Up for 11,555 SF
Gross rent
$300.9K $26.04/SF
− Vacancy
−$23.2K −$2.01/SF
EGI
$277.7K $24.03/SF
− OpEx
−$69.4K −$6.01/SF
NOI
$208.3K $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 Rate 5%
$4,165,860
Cap Rate 7%
$2,975,614
Cap Rate 9%
$2,314,367
Alternative Uses
Best Use
Office B
$2.98M
$2.60M – $3.47M
NOI $208,293 @ 7.0% cap · market cap 6.61%
Second Best
Healthcare Medical
$2.17M
$1.90M – $2.54M
NOI $152,249 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $226,930 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,118
Businesses Nearby
Under-served
Demand for This Use
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
$335,800
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Clearwater, FL
Properties on Market for Medical Office Space in Clearwater
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The property houses primary care and outpatient gastroenterology and endoscopy practices.
Where is this medical office space located?
The property is located at 616 E St Clearwater, FL.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 11,555‑square‑foot medical office building with two tenants; BayCare Medical Group provides primary care at the property; West Coast Endoscopy offers outpatient gastroenterology and endoscopy services
