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    15550 Lightwave Dr Clearwater, FL 33760

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    15550 Lightwave Dr Clearwater, FL 33760

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    • Office buildings
    • 92,160 SF
    • 3.90 lot acres
    For Lease
    $24 SF/Yr
    View Listing →
    Class A Office Building For Lease
    $24 SF/Yr
    12,374 SF

    Class A Office Building

    93,946 SF Class A office in Pinellas County.

    15550 Lightwave Dr, Clearwater, FL
    View Listing
    Property ID
    US18-5570531
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $14,150,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Experian's Clarity Services / Financial Advisor
    • Website Design Masters / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • The Sunshine City Kitchen Remodeling Solutions / Hardware & Home Improvement / Interior Design
    • Bayview Pavillion / Business Service Center / Corporate Office
    • Clearwater Rat Removal Service / Garden Center

    Property Details for 15550 Lightwave Dr

    Year built
    1998
    Construction
    STEEL FRAME
    Lot size
    3.90 lot acres
    Property size
    92,160 SF
    Property type
    Office buildings
    APN
    33-29-16-04904-000-0020
    APU
    332916049040000020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $14,150,000
      ML approach
      $14,150,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $17,300,000
      Current use
      RETAIL STORES
      $19,160,000
      Change: +11% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $19,050,000
      Change: +10% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.702
    Latitude
    27.9139
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $268,539
    $0.00
    $0.00
    $14,200,000
    -
    $969,138
    $13,230,862
    $14,200,000

    Comparable in this City

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      $6,710,000
      49,470 SF

      15500 Lightwave Dr

      OFFICE BUILDING (MULTI-STORY) • 49,470 SF
      15500 Lightwave Dr, Clearwater, FL 33760-3505
      View Details
    • Value Estimation
      $3,410,000
      22,548 SF

      16331 Bay Vis Dr

      OFFICE BUILDING (MULTI-STORY) • 22,548 SF
      16331 Bay Vis Dr, Clearwater, FL 33760-3130
      View Details
    • Value Estimation
      $1,910,000
      11,532 SF

      15351 Roosevelt Blvd

      OFFICE BUILDING • 11,532 SF
      15351 Roosevelt Blvd, Clearwater, FL 33760-3534
      View Details
    • Value Estimation
      $5,585,000
      31,000 SF

      5585 Rio Vis Dr

      OFFICE BUILDING (MULTI-STORY) • 31,000 SF
      5585 Rio Vis Dr, Clearwater, FL 33760-3114
      View Details
    • Value Estimation
      $7,655,000
      78,230 SF

      6021 142nd N Ave

      OFFICE BUILDING (MULTI-STORY) • 78,230 SF
      6021 142nd N Ave, Clearwater, FL 33760-2822
      View Details
    • Value Estimation by Request
      1,696 SF

      2841 Roosevelt Blvd

      OFFICE BUILDING • 1,696 SF
      2841 Roosevelt Blvd, Clearwater, FL 33760-1929
      View Details

    Similar Nearby for Sale

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      2,340 SF

      Prime Land on Roosevelt Boulevard

      Development opportunity on high-visibility real estate along Largo's active corridor.
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      Clearwater Office Building Investment

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    • $1,535,000
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      Warehouse/Office Manufacturing Facility For Sale

      Versatile 10,640 SF warehouse/office in desirable industrial park.
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    • $895,000
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      Clearwater Office Space For Sale

      Office property with 2627 square feet available for purchase.
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    • $385,000
      0.28 Acres

      Clearwater Land For Sale

      Vacant 0.28 acre lot in Clearwater, C-2 zoning.
      6353 143Rd Ave N, Clearwater, FL 33760
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    • $597,000
      0.96 Acres

      Clearwater Vacant Land Parcel

      Oversized vacant parcel with development potential in Clearwater, Florida.
      1971 Wolford Rd, Clearwater, FL 33760
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,374 SF

      Class A Office Building

      93,946 SF Class A office in Pinellas County.
      15550 Lightwave Dr, Clearwater, FL 33760
      View Details
    • Contact for pricing

      Class A Office Space Available

      Centrally located Class A office building with flexible floor plans.
      15500 Lightwave Dr, Clearwater, FL 33760
      View Details
    • Contact for pricing

      Roosevelt Office Center For Lease

      Office space available in a strategically located building.
      15500 Roosevelt Blvd, Clearwater, FL 33760
      View Details
    • Contact for pricing

      Clearwater Office Space for Lease

      Affordable office space with flexible layout in centralized location.
      16001 Bay Vista Dr, Clearwater, FL 33760
      View Details
    • Contact for pricing
      6,741 SF

      Class A Office Space Available

      Class A office building with flexible floor plans for rent.
      15500 Lightwave Dr, Clearwater, FL 33760
      View Details
    • Contact for pricing

      Clearwater Warehouse and Office Spaces

      Warehouse and office spaces available near St. Pete/Clearwater Airport.
      6399 142Nd Ave N, Clearwater, FL 33760
      View Details
    View Listing
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    Clearwater, FL 33760
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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    15550 Lightwave Dr, Clearwater, FL, 33760

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