Medical Office Building with Pylon
701 N Hercules Avenue CLEARWATER Clearwater, FL 33765
701 N Hercules Avenue CLEARWATER, Clearwater, FL, 33765
$1,900,000
For Sale
$1,900,000
Multi-tenant medical office building offers on-site parking, a standalone pylon sign, and potential for immediate suite occupancy.
Property Size10,432 SF
Price / SF$182.13
Days on Market11
Property Features for 701 N Hercules Avenue CLEARWATER
General Information
- Standard status
- Active
- Size
- 10,432 SF
Building Details
- Year Built
- 1985
Listing Agency
(904) 569-5862
Listed by
Garrett Allen
(904) 569-5862
Source
Movetojacksonville
Added: Jul 6 Checked: Jul 16 at 2:40 am
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 Garrett Allen
Investment Insights
Based on property information with market context.
This 10,400-square-foot medical office building is designed for a professional multi-tenant medical environment and currently serves five tenants. The property offers several established medical tenants, and one or more suites are currently vacant and ready for immediate occupancy, which can support a smooth owner-occupant transition.
Located at 701 N Hercules Avenue in North Clearwater, the building is positioned directly across from Clearwater Air Park. The offering includes high visibility with reported traffic of 22,052 cars per day, along with a large site with abundant parking. A prominent stand-alone pylon sign provides additional building identification, and the property is described as having low flood risk in Flood Zone X.
For a medical practitioner or small group looking to own rather than lease, the building’s configuration supports either occupancy of available space or use alongside existing tenants. Staggered lease expirations are in place, offering flexibility for future planning and renewal opportunities based on tenant turnover timing. For investors or owner-users, the presence of existing tenants may help offset ownership costs while vacancies provide the option to tailor space use as needed.
Located at 701 N Hercules Avenue in North Clearwater, the building is positioned directly across from Clearwater Air Park. The offering includes high visibility with reported traffic of 22,052 cars per day, along with a large site with abundant parking. A prominent stand-alone pylon sign provides additional building identification, and the property is described as having low flood risk in Flood Zone X.
For a medical practitioner or small group looking to own rather than lease, the building’s configuration supports either occupancy of available space or use alongside existing tenants. Staggered lease expirations are in place, offering flexibility for future planning and renewal opportunities based on tenant turnover timing. For investors or owner-users, the presence of existing tenants may help offset ownership costs while vacancies provide the option to tailor space use as needed.
Key Highlights
- 10,400 SF medical office building with 1 story (built in 1985) and air conditioning
- 1.05‑acre lot (160 x 287) with paved county road frontage and road surface type: paved
- Five‑tenant setup with one or more suites currently vacant for immediate occupancy
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $250.4k | $24.00 |
| − Vacancy | −$21.3k | −$2.04 |
| EGI | $229.1k | $21.96 |
| − OpEx | −$91.6k | −$8.78 |
| NOI | $137.5k | $13.18 |
10,432 SF · lease $24.00/SF/yr · vacancy 8.50% · expense 40.00%
Alternative Uses
Best Use
Office B
$2.69M
$2.35M – $3.13M
NOI $188,049 @ 7.0% cap · market cap 9.90%
Second Best
Healthcare Medical
$1.96M
$1.72M – $2.29M
NOI $137,452 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$2.93M
$2.56M – $3.41M
NOI $204,875 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Clearwater Orthopedics
Physician
Elite Sports Podiatry ...
Physician
Dr. Elias M. ...
Physician
Elite Body Therapy
Medical Clinic
Dr. John Harker, ...
Physician
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FAQs
What type of property is this?
Medical Office Space - Multi-tenant medical office building offers on-site parking, a standalone pylon sign, and potential for immediate suite occupancy.
Where is this medical office space located?
The property is located at 701 N Hercules Avenue CLEARWATER Clearwater, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 10,400 SF medical office building with 1 story (built in 1985) and air conditioning; 1.05‑acre lot (160 x 287) with paved county road frontage and road surface type: paved; Five‑tenant setup with one or more suites currently vacant for immediate occupancy
