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Property profile & analytics
FOR LEASE
Warehouses
1861 N Highland Ave Clearwater, FL 33755
Trust Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-2735332
For Lease
1 / 37
$20,448 SF/Yr
1861 N Highland Ave, Clearwater, FL 33755
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Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1984
Construction
CONCRETE BLOCKS
Total area
32,235 SF
Lot
2.86 ac (124,473 SF)
APN
02-29-15-88237-000-0040
UPID
US18-2735332
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Meaningful Productions Nightclub Music Venue
-
Clearwater Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.26M
Blend (final)
Blend
$4.26M
Owner & transaction history
Scher,h S G Land Trust · 8 yrs held
Scher,h S G Land Trust
since 2018
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.7M
+2.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Clearwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clearwater submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$4.26M
Range $3.83M – $4.69M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$132 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,179
Tax year 2023
Assessed value
$1,825,000
Assessed 2023
Previous assessed
$1,790,000
+2.0% YoY
Effective rate
1.93%
On assessed value
Land market value
$606,564
Improvement market value
$1,218,436
Total market value
$1,825,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Lease
Year built
1984
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
3
Total area
32,235 SF
Lot
2.86 ac (124,473 SF)
APN
02-29-15-88237-000-0040
UPID
US18-2735332
Jurisdiction
PINELLAS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$6.6M
RETAIL STORES
Est. value
$6.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.5M
OFFICE BUILDING
Est. value
$5.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.7M
WAREHOUSE, STORAGE Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Construction
CONCRETE BLOCKS
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
3
Lot
2.86 ac
Current owner
From public records · entity-resolved
Scher,h S G Land Trust
Trust
Mailing address
204 N HOWARD AVE, TAMPA, FL 33606-1552
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 4, 2018
—
Scher,h S G Land Trust
—
Deed
related
$750,000 · Valley Nat'l Bk
Dec 13, 2017
—
Sunset Square General Ptshp
—
Loan Modification
related
$3,236,501 · Usameribank
—
—
Scher,h S G Land Trust
—
Deed Of Trust
related
$750,000 · Valley Nat'l Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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