601 Belcher Rd Clearwater, FL 33764

Property Details for 601 Belcher Rd

Year built

1989

Construction

FRAME

Lot size

0.57 lot acres

Property size

6,978 SF

Property type

Office buildings

APN

18-29-16-92650-000-0010

APU

182916926500000010

Description

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.

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Longitude

-82.745

Latitude

27.9584

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments