Downtown Clearwater Office
For Sale
Contact for pricing
Pending
908 S Ft Harrison Ave, Clearwater, FL 33756
Two office buildings totaling 3,515 SF with 20 parking spaces.
Property Size3,515 SF
Days on Market152
Property Features for 908 S Ft Harrison Ave
General Information
Standard status
Pending
Size
3,515 SF
Property subtype
Mixed Use, Office
Building Details
Year Built
1940
Listing Agency:
Stonebridge Real Estate
Listed By:
Benjamin Magnie · License #SL3463003
Source:
Crexi
Added: Mar 9
Changed: Jul 6
Last Checked: Jul 24 at 8:56AM
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 Stonebridge Real Estate
Investment Insights
Based on property information with market context.
Located in downtown Clearwater on S Ft Harrison Ave, adjacent to the Harbor Oaks neighborhood, this property features two office buildings on two parcels. The buildings total 3,515 square feet, with one building offering 2,140 square feet and the other 1,375 square feet. There are 20 parking spaces available. The property is zoned for office use. This property is suitable for investors or owner-users. Options include maintaining existing medical tenants for income, occupying one space and leasing the other, or utilizing the full 3,515 square feet. This property offers flexible office use in a strong location.
Key Highlights
- Prime Downtown Clearwater location on highly visible S Ft Harrison Ave.
- Two office buildings totaling 3,515 SF on two parcels.
- 20 parking spaces included.
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
$63,362
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
5.28%
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%
$1,267,240
$1.3M
Cap Rate 7%
$905,171
$905.2K
Cap Rate 9%
$704,022
$704.0K
Market Conditions
NOI Build-Up for 3,515 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
$91.5K $26.04/SF
− Vacancy
−$7.0K −$2.01/SF
EGI
$84.5K $24.03/SF
− OpEx
−$21.1K −$6.01/SF
NOI
$63.4K $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%
$1,267,240
Cap Rate 7%
$905,171
Cap Rate 9%
$704,022
Alternative Uses
Best Use
Office B
$905.2K
$792.0K – $1.06M
NOI $63,362 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$986.2K
$862.9K – $1.15M
NOI $69,031 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,972
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 building - Two office buildings totaling 3,515 SF with 20 parking spaces.
Where is this office building located?
The property is located at 908 S Ft Harrison Ave Clearwater, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime Downtown Clearwater location on highly visible S Ft Harrison Ave.; Two office buildings totaling 3,515 SF on two parcels.; 20 parking spaces included.
