Palm Harbor Medical Office
For Sale
Contact for pricing
Pending
31581 US Hwy 19 N, Palm Harbor, FL 34684
Move-in ready medical office building on U.S. Highway 19.
Property Size3,692 SF
Days on Market749
Property Features for 31581 US Hwy 19 N
General Information
Standard status
Pending
Size
3,692 SF
Property subtype
Office
Zoning
CP - Commercial Parkway
Investment Type
Owner/User
Building Details
Year Built
1985
Year Renovated
2003
Buildings
1
Stories
1
Listing Agency:
The Boardwalk Company
Listed By:
John Quattrocki · License #FL CQ1026002
Source:
Crexi
Added: Aug 13, 2024
Changed: Aug 26
Last Checked: Aug 25 at 9:56PM
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 The Boardwalk Company
Investment Insights
Based on property information with market context.
Located in Palm Harbor, FL, this 3,692 square foot medical office building is move-in ready and requires no build-out. The office, constructed in 1985, was remodeled in 2003 for a medical orthopedic practitioner, providing a modern interior. It benefits from pylon signage on U.S. Highway 19 and a parking ratio of 5 spaces per 1,000 square feet. Situated 1.5 miles north of Countryside Mall, the property experiences a daily traffic count of 76,000 vehicles, according to FDOT, offering high visibility for signage. The location features a favorable demographic profile with strong income levels, making it suitable for a medical service provider. This property is an excellent investment opportunity for establishing a thriving medical practice.
Key Highlights
- Move‑in ready 3,692 SF medical office requiring no build‑out.
- Prime location on U.S. Highway 19 with high visibility pylon signage.
- High daily traffic count of 76,000 vehicles (FDOT data).
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
$57,323
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
6.40%
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%
$1,146,460
$1.1M
Cap Rate 7%
$818,900
$818.9K
Cap Rate 9%
$636,922
$636.9K
Market Conditions
NOI Build-Up for 3,692 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
$96.1K $26.04/SF
− Vacancy
−$19.7K −$5.34/SF
EGI
$76.4K $20.70/SF
− OpEx
−$19.1K −$5.18/SF
NOI
$57.3K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
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%
$1,146,460
Cap Rate 7%
$818,900
Cap Rate 9%
$636,922
Alternative Uses
Best Use
Office B
$818.9K
$716.5K – $955.4K
NOI $57,323 @ 7.0% cap · market cap 6.40%
Second Best
Healthcare Medical
$486.5K
$425.7K – $567.5K
NOI $34,052 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$960.3K
$840.3K – $1.12M
NOI $67,222 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34684, FL
27,078
Population
14,308
Households
1.9
Avg Household Size
54
Median Age
35%
College-Educated
95%
High-School Grad
6.7 sq mi
ZIP Area
4,041
Density / Sq Mi
$67,542
Median Household Income
$47,427
Median Earnings
$1,781
Median Rent
$293,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Petco Vaccination Clinic — 30697 US Hwy 19 N, Palm Harbor, FL 34684
- Harbor Springs Vet — 31201 US Hwy 19 N STE 2, Palm Harbor, FL 34684
- Vet Wellcare Vaccinations Clinic at Pet Supermarket — 32560 US Hwy 19 N, Palm Harbor, FL 34683
Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in ready medical office building on U.S. Highway 19.
Where is this medical office space located?
The property is located at 31581 US Hwy 19 N Palm Harbor, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Move‑in ready 3,692 SF medical office requiring no build‑out.; Prime location on U.S. Highway 19 with high visibility pylon signage.; High daily traffic count of 76,000 vehicles (FDOT data).
