3245 Executive Dr Clearwater, FL 33762
- Day care centers
- 6,254 SF
- 0.61 lot acres
Current Use by Public Records
- Harbor View Creative Learning Center / Day Care Center
Property Details for 3245 Executive Dr
- Year built
- 1988
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.61 lot acres
- Property size
- 6,254 SF
- Property type
- Day care centers
- APN
- 02-30-16-00000-330-0200
- APU
- 23016000003300200
Description
This exceptional investment opportunity presents a ±6,300 square foot, single-tenant, absolute NNN leased daycare center in Clearwater, Florida. Located at 3245 Executive Dr, Clearwater, FL 33762, this property boasts a strong 6.42% cap rate and a substantial remaining lease term of approximately 8.8 years, expiring August 31, 2033, with two 5-year renewal options. The tenant, an established early childhood academic operator, occupies the entire building, currently operating at 100% occupancy since September 1, 2022. The lease includes annual rent bumps of 3%, ensuring consistent income growth. Built in 1988 and extensively renovated in 2022, the property sits on a 0.61-acre lot with 18 parking spaces and benefits from a prime location in a high-growth area, across from Raymond James' Global HQ, and near major roadways including I-275. The property's zoning is Commercial Corridor (CCS-1). The Net Operating Income (NOI) is $247,296, and the asking price is $3,850,000, resulting in a price per square foot of $611.11. This is a truly passive investment opportunity with strong underlying real estate fundamentals and a proven, locally-based operator. The property's strategic location within a dense residential and professional community in a rapidly growing MSA makes it an ideal investment for long-term growth and stability.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,445,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,230,000
- 6.5%
- $3,385,000
- 7%
- $3,585,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,315,000
- Geo Method
- $3,125,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,790,000
- Retail
- $3,120,000
- Mixed-Use
- $3,735,000
- Hospitality
- $2,930,000
- Educational
- $3,645,000
- Residential Income
- $3,285,000
- Energy
- $3,985,000
- Income-Based Land
- $3,045,000
- Food Service
- $4,020,000
Location Insight
- Map
- Local Demand
- City
- Clearwater
- County
- Pinellas
- State
- Florida
- Longitude
- -82.6777
- Latitude
- 27.8948
- CBSA code
- 45300
- CBSA name
- TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA
