Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1861 N Highland Ave Clearwater, FL 33755

    • Warehouses
    • 32,235 SF
    • 2.86 lot acres
    For Lease
    View listing
    $20,208
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2735332
    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.

    Current Use by Public Records

    • Meaningful Productions / Nightclub / Music Venue
    • Clearwater Storage / Storage Facility

    Property Details for 1861 N Highland Ave

    Year built
    1984
    Construction
    CONCRETE BLOCKS
    Lot size
    2.86 lot acres
    Property size
    32,235 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    02-29-15-88237-000-0040
    APU
    22915882370000040

    Description

    Sunset Square Shopping Center offers exceptional retail leasing opportunities in Clearwater's Central Business District. This newly renovated 83,100 square foot center boasts a prime location at the intersection of N. Highland & Sunset Point Rd (APN: 02-29-15-88237-000-0010, Pinellas County). The recent redevelopment has significantly enhanced the property, including the conversion of a large space into Clearwater Storage, resulting in ample parking (5 spaces per 1000 square feet). A new Planet Fitness anchor tenant joins existing national retailers such as CVS, Subway, and Checkers, further boosting foot traffic. The center's convenient location is complemented by its proximity to a Walmart Neighborhood Market and Dunkin' Donuts. Multiple suites are available, with spaces ranging from 1,050 to 2,400 square feet, with a minimum divisible space of 2,000 square feet and a maximum contiguous space of 2,000 square feet. The building, constructed in 1984, offers a total of two suites. Estimated CAM charges are $4.25 per square foot. This is an ideal opportunity for businesses seeking high visibility and strong consumer traffic in a thriving Clearwater location. Access is easily available via Sunset Point Road or North Highland Avenue. Contact us for details on available spaces and leasing information.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,259,000
      Market price range: $3.59M - $10.0M
      AI Estimate
      $4,259,000
      Market price range: $3.59M - $10.0M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $6,565,000
      Current use
      RETAIL STORES
      $6,700,000
      Change: +2% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $6,480,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $5,755,000
      Change: -12% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $5,675,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7743
    Latitude
    27.9885
    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
    $35,179
    $0.00
    $0.00
    $1,825,000
    -
    $606,564
    $1,218,436
    $1,825,000

    Comparable in this City

    • Value Estimation
      $1,235,000
      3,960 SF

      1609 Highland Ave

      MINI-WAREHOUSE, STORAGE • 3,960 SF
      1609 Highland Ave, Clearwater, FL 33755
      View Details
    • Value Estimation
      $15,265,000
      69,120 SF

      1660 Gulf To Bay Blvd

      MINI-WAREHOUSE, STORAGE • 69,120 SF
      1660 Gulf To Bay Blvd, Clearwater, FL 33755-6423
      View Details
    • Value Estimation
      $1,755,000
      5,634 SF

      111 Myrtle Ave

      MINI-WAREHOUSE, STORAGE • 5,634 SF
      111 Myrtle Ave, Clearwater, FL 33755-4536
      View Details
    • Value Estimation
      $1,865,000
      16,720 SF

      506 Martin Luther King Jr Ave

      WAREHOUSE, STORAGE • 16,720 SF
      506 Martin Luther King Jr Ave, Clearwater, FL 33755-4400
      View Details
    • Value Estimation
      $1,165,000
      10,000 SF

      1101 Seminole St

      WAREHOUSE, STORAGE • 10,000 SF
      1101 Seminole St, Clearwater, FL 33755-4344
      View Details
    • Value Estimation
      $610,000
      5,484 SF

      1123 Seminole St

      WAREHOUSE, STORAGE • 5,484 SF
      1123 Seminole St, Clearwater, FL 33755-4344
      View Details

    Similar Nearby for Sale

    • $550,000
      17,000 SF

      Prime Clearwater Restaurant Site

      17,000 SF Vacant Restaurant Space
      1631 Gulf To Bay Blvd, Clearwater, FL 33755
      View Details
    • $1,400,000
      8,662 SF

      Clearwater Industrial Property - Huge Potential

      8,662 SF Industrial Building, 0.54 Acres
      701 Martin Luther King Jr Ave, Clearwater, FL 33755
      View Details
    • $439,000
      Pending

      Clearwater Duplex Near Pinellas Trail

      Duplex near Downtown Dunedin with month-to-month tenants.
      1185 Granada St, Clearwater, FL 33755
      View Details
    • $2,990,000
      14,400 SF

      Downtown Clearwater Retail Plaza

      Prime location, 17 units, high traffic.
      1417 Cleveland St, Clearwater, FL 33755
      View Details
    • $1,600,000
      6,564 SF

      Gulf Bay Blvd Shopping Center

      Prime Clearwater retail plaza, high ROI.
      1446 Gulf To Bay Blvd, Clearwater, FL 33755
      View Details
    • $159,000
      Pending

      Residential Lots in Clearwater

      Three residential lots in Clearwater, ideal for builders/investors.
      1408 Pennsylvania Ave, Clearwater, FL 33755
      View Details

    Similar Nearby for Lease

    • $20,208

      Renovated Retail Space in Clearwater

      Retail leasing opportunities in Sunset Square Shopping Center, Clearwater, FL.
      1861 N Highland Ave, Clearwater, FL 33755
      View Details
    • $292,676

      Downtown Clearwater Office Space

      Penthouse office space in vibrant Cleveland Street District.
      1255 Cleveland St, Clearwater, FL 33755
      View Details
    • $54,000

      Versatile Commercial Property For Lease

      Versatile commercial property suitable for automotive, retail, and office uses.
      211 N Missouri Ave, Clearwater, FL 33755
      View Details
    • $22 SF/Yr
      43,535 SF

      Clearwater Corporate HQ Office Space

      7,761 SF Move-In Ready Office Suite
      1255 Cleveland St, Clearwater, FL 33755
      View Details
    • $170,928
      9,496 SF

      Renovated Commercial Building in Clearwater

      Completely renovated commercial building suitable for various business types.
      1710 N Fort Harrison Ave, Clearwater, FL 33755
      View Details
    • $54,000

      Clearwater Retail/Office Space Available

      Retail or office space for rent in Clearwater, Florida.
      211 N Missouri Ave, Clearwater, FL 33755
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1861 N Highland Ave
    Clearwater, FL 33755
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!