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    2240 Belleair Rd Clearwater, FL 33764-2798
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    Property profile & analytics

    2240 Belleair Rd, Clearwater, FL 33764-2798

    View on Map
    • Office buildings
    • 35,536 SF
    • 2.08 lot acres
    Off-Market
    Property ID
    US18-1449398
    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
    $4,425,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sohi Systems / (Bike/Boat/Book/etc) Store / Corporate Office
    • Fox & Associates CPA / Accounting Firm
    • Westcor Land Title Insurance Co / Title Company
    • ITX Learning / Training Center / Tutoring Service
    • Belleair Oaks / Business Service Center / Corporate Office

    Property Details for 2240 Belleair Rd

    Year built
    1987
    Construction
    CONCRETE BLOCKS
    Lot size
    2.08 lot acres
    Property type
    Office buildings
    APN
    19-29-16-00000-330-1100
    APU
    192916000003301100

    Description

    This Clearwater, Florida office building offers 10,500 square feet of vacant space in a Class B, two-story building constructed in 1987 and renovated in 2020. Located at 2240 Belleair Rd, at the intersection of Belleair and Belcher Roads, the property features 34,613 total square feet, with units ranging from a minimum of 3,200 square feet to a maximum contiguous space of 4,700 square feet. The building boasts 112 parking spaces, 3-phase power, and elevators. The 2.08-acre lot is zoned for commercial office use and offers a 9.5-foot ceiling height. Amenities include updated restrooms, carpets, and roof. The property is suitable for various uses, including traditional office, creative office, coworking, and executive office spaces. Its location in the Clearwater/Largo submarket provides easy access and ample parking for employees and clients. The property is ideal for businesses seeking flexible and modern office space in a well-maintained building. The building's versatile layout can accommodate a range of business needs, from call centers and flex spaces to law firms and CPA offices.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,425,000
      Market price range: $4.42M - $9.80M
      AI Estimate
      $4,425,000
      Market price range: $4.42M - $9.80M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,670,000
      Current use
      WAREHOUSE, STORAGE
      $7,240,000
      Change: +9% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $6,255,000
      Change: -6% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $6,060,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7445
    Latitude
    27.939
    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
    $51,944
    $0.00
    $0.00
    $3,050,000
    -
    $466,447
    $2,583,553
    $3,050,000

    Comparable in this City

    • Value Estimation
      $1,465,000
      8,260 SF

      1419 Belcher Rd

      OFFICE BUILDING
      1419 Belcher Rd, Clearwater, FL 33764-2829
      View Details
    • Value Estimation
      $985,000
      5,658 SF

      2226 Druid E Rd

      PROFESSIONAL BUILDING
      2226 Druid E Rd, Clearwater, FL 33764-4935
      View Details
    • Value Estimation
      $1,720,000
      6,978 SF

      601 Belcher Rd

      PROFESSIONAL BUILDING
      601 Belcher Rd, Clearwater, FL 33764-6301
      View Details
    • Value Estimation
      $640,000
      3,154 SF

      2223 Nursery Rd

      OFFICE BUILDING
      2223 Nursery Rd, Clearwater, FL 33764
      View Details
    • Value Estimation
      $12,730,000
      46,144 SF

      17755 Us Hwy 19th N

      OFFICE BUILDING (MULTI-STORY)
      17755 Us Hwy 19th N, Clearwater, FL 33764-6500
      View Details
    • Value Estimation
      $22,490,000
      146,894 SF

      18167 Us Hwy 19th N

      OFFICE BUILDING (MULTI-STORY)
      18167 Us Hwy 19th N, Clearwater, FL 33764-3528
      View Details

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      Clearwater Mixed-Use Development Opportunity

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      Move-in Ready Medical Office

      Vacant medical office with X-ray room and multiple treatment rooms.
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      Prime Commercial Development Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      123,116 SF

      Office Space For Rent

      Available office space in Clearwater, Florida.
      16120 Us Highway 19 North, Clearwater, FL 33764
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    • Contact for pricing

      Clearwater Warehouse/Showroom on US Highway

      12,000 SF warehouse/showroom with highway frontage and visibility.
      10877 Us Highway 19 North, Clearwater, FL 33764
      View Details
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      1,000 SF

      Retail/Office Center with Pylon Signage

      32,000 SF retail/office center with excellent visibility and parking.
      1449 S Belcher Rd, Clearwater, FL 33764
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space on US Highway

      Retail space with high traffic and strategic location.
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    • Contact for pricing

      Restaurant with Drive Thru Available

      3,100 SF restaurant with drive-thru on 0.72 acres.
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      View Details
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    Clearwater, FL 33764-2798
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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.

    More about this property
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