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    601 Belcher Rd Clearwater, FL 33764

    For Sale
    $2,890,000

    Net-leased medical office, high occupancy.

    Property size:
    7,092 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This fee-simple, single-tenant medical office building in Clearwater, Florida, offers a compelling investment opportunity. The 7,092 square foot building, constructed in 1989, sits on a 0.57-acre lot and is currently 100% occupied by Robson Eye Institute under a triple-net (NNN) lease expiring March 31, 2030, with two five-year renewal options. The property boasts a 5.53% cap rate and a strong remaining lease term of 5.4 years. Located at 601 S Belcher Rd, Clearwater, FL 33764, the building benefits from a high-traffic location on Belcher Road, directly off Gulf-to-Bay Boulevard, a major east-west corridor in Pinellas County with over 69,300 cars passing daily. The property's proximity to Clearwater Beach and Tampa, along with its location within a densely populated area (over 257,000 residents within 5 miles), ensures high visibility and accessibility. The tenant, Robson Eye Institute, a subsidiary of Southeastern EyeCare Group, demonstrates financial stability and long-term commitment to the location. The lease includes annual base rent increases of 3%, and the tenant reimburses management and administrative fees. The building is zoned for medical office use and presents minimal landlord responsibilities, limited to roof and structure maintenance. This investment is ideal for those seeking a stable, passive income stream with significant upside potential. The property's essential business nature and strong demographics further enhance its investment appeal.

    Property Features for 601 Belcher Rd

    General Information

    Property type
    Medical offices
    Square Feet
    7,092 SF
    Lot Size
    24,829 SF

    Building Details

    Year Built
    1989
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 7,092 SF fee‑simple medical office building in Clearwater, FL, on a 0.57‑acre lot.
    • 100% occupied by Robson Eye Institute under a NNN lease expiring March 31, 2030, with two 5‑year renewal options; 5.4 years remaining lease term.
    • 5.53% cap rate with 3% annual rent increases and tenant‑paid management fees.
    • Minimal landlord responsibilities limited to roof and structure maintenance.
    • High‑traffic location on Belcher Road, near Gulf‑to‑Bay Boulevard, in a densely populated area (over 257,000 residents within 5 miles).
    • Strong tenant, Robson Eye Institute (subsidiary of Southeastern EyeCare Group), providing essential services.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Robson Eye Institute Ophthalmologist Allison Dickson Optometrist Sheila Pabon Ophthalmologist Roger Gstalder Ophthalmologist Allison Page Dickson Optometrist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.745306446042
    Latitude
    27.958597712118

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    FAQs

    What type of property is this?
    Medical office - Net-leased medical office, high occupancy.
    Where is this medical office located?
    The property is located at 601 Belcher Rd Clearwater, FL.
    What is the asking price?
    The asking price for this property is $2,890,000.
    What are key features of this property?
    This property features: 7,092 SF fee-simple medical office building in Clearwater, FL, on a 0.57-acre lot.; 100% occupied by Robson Eye Institute under a NNN lease expiring March 31, 2030, with two 5-year renewal options; 5.4 years remaining lease term.; 5.53% cap rate with 3% annual rent increases and tenant-paid management fees.
    Request Owner's contact information
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    Clearwater, FL 33764
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    601 Belcher Rd Clearwater, FL 33764
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