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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3118 Gulf To Bay Blvd Clearwater, FL 33759-4553

    • Office buildings
    • 23,478 SF
    • 0.80 lot acres
    OFF-MARKET
    Last Sale
    Nov 03, 2023
    $4,900,000
    Value Estimations
    $4,695,000
    Show details
    Cap Rate Potential
    8.6%
    Office buildings
    Location Intelligence
    Property ID
    US19-0627493
    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

    • Business Software Solutions / (Bike/Boat/Book/etc) Store / Corporate Office
    • SMB For Taxes / Tax Preparation
    • Property management & maintenance llc / Property Management Company
    • Trident Training Institute / Security Service
    • American Bridge Co / Bridge

    Property Details for 3118 Gulf To Bay Blvd

    Year built
    1972
    Construction
    CONCRETE BLOCKS
    Lot size
    0.80 lot acres
    Property size
    23,478 SF
    Property type
    Office buildings
    APN
    16-29-16-00000-240-0600
    APU
    162916000002400600

    Description

    Bayside One Offices, located at 3118 Gulf to Bay Blvd in Clearwater, Florida (zip code 33759), offers 23,562 square feet of Class A office space in a single, three-story building situated on 0.8 acres. This property, built in 1972 and extensively renovated in 2023, features 50 suites with a minimum divisible space of 100 square feet and a maximum contiguous space of 3,000 square feet. Currently, 6,624 square feet of space is vacant. The building boasts an 8-foot ceiling height and caters to various office needs, including executive, traditional, and creative office spaces. Amenities include 24/7 access, on-site management, utilities, Wi-Fi, and ample parking. The property is ideally suited for businesses of all sizes, offering options for custom build-outs or fully furnished setups, along with shared amenities such as meeting and conference rooms. Its high-visibility location on Gulf to Bay Boulevard in Pinellas County ensures significant daily traffic exposure, with over 60,000 vehicles passing by. The building's proximity to major highways and both Tampa International and St. Pete Airports provides exceptional convenience for tenants and their clients.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,250,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,088,000
      Market price range: $2.83M - $8.63M
      AI Estimate
      $3,088,000
      Market price range: $2.83M - $8.63M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,450,000
      Current use
      RETAIL STORES
      $4,880,000
      Change: -10% Conversion: Moderate
      WAREHOUSE, STORAGE
      $4,780,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7078
    Latitude
    27.9611
    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
    $34,697
    $0.00
    $0.00
    $1,800,000
    -
    $421,823
    $1,378,177
    $1,800,000

    Comparable in this City

    • Value Estimation
      $13,210,000
      72,991 SF

      2650 Mccormick Dr

      OFFICE BUILDING (MULTI-STORY) • 72,991 SF
      2650 Mccormick Dr, Clearwater, FL 33759-1005
      View Details
    • Value Estimation
      $780,000
      2,162 SF

      3006 Gulf To Bay Blvd

      PROFESSIONAL BUILDING • 2,162 SF
      3006 Gulf To Bay Blvd, Clearwater, FL 33759-4313
      View Details
    • Value Estimation by Request
      1,824 SF

      2695 Sunset Pt Rd

      OFFICE BUILDING • 1,824 SF
      2695 Sunset Pt Rd, Clearwater, FL 33759-1500
      View Details
    • Value Estimation
      $21,445,000
      84,642 SF

      380 Park Pl Blvd

      OFFICE BUILDING (MULTI-STORY) • 84,642 SF
      380 Park Pl Blvd, Clearwater, FL 33759-4930
      View Details
    • Value Estimation by Request
      13,628 SF

      101 Creative Way

      OFFICE BUILDING • 13,628 SF
      101 Creative Way, Clearwater, FL 33759-4090
      View Details
    • Value Estimation
      $905,000
      2,756 SF

      2641 Sunset Pt Rd

      OFFICE BUILDING • 2,756 SF
      2641 Sunset Pt Rd, Clearwater, FL 33759-1592
      View Details

    Similar Nearby for Sale

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      Clearwater Commercial Duo

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      High-Traffic Commercial Land For Sale

      Signalized intersection with high visibility and easy access.
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      Clearwater Commercial Property for Sale

      Commercial property available in Clearwater, Florida.
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      Clearwater Duplex in Prime Location

      Concrete block duplex in Clearwater, great location, tenant occupied.
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    • $575,000
      1,996 SF

      Updated Clearwater Duplex Near Amenities

      Updated duplex with modern kitchens, shared yard, convenient location.
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    • New
      $290,000
      0.15 Acres

      Residential Lot in Kapok Terrace

      Buildable lot in Clearwater's desirable Kapok Terrace neighborhood.
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    Similar Nearby for Lease

    • $28 SF/Yr
      2,685 SF

      Class A Office Space Available

      Premium office space in a vibrant submarket, near US-19.
      2605 Enterprise Rd E, Clearwater, FL 33759
      View Details
    • Contact for pricing
      5,000 SF

      Class A Corporate Office Space

      119,015 SF Class A office building for rent.
      311 Park Place Blvd, Clearwater, FL 33759
      View Details
    • $26 SF/Yr
      7,476 SF

      Water's Edge Office Suites Available

      Gulf-front office space, multiple suites.
      2963 Gulf To Bay Blvd, Clearwater, FL 33759
      View Details
    • $18,000 /Mo

      Renovated Office Space on McMullen

      Renovated office space with high visibility and large parking area.
      111 N Mcmullen Booth Rd, Clearwater, FL 33759
      View Details
    • $28 SF/Yr
      81,936 SF

      Prime Clearwater Office Space

      Class A Office Suites, Flexible Sizes
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      View Details
    • $24 SF/Yr
      1,400 SF

      Retail Space on Gulf to Bay

      Highly visible retail space in Clearwater with strong tenant mix.
      2790 Gulf To Bay Blvd, Clearwater, FL 33759
      View Details
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    3118 Gulf To Bay Blvd
    Clearwater, FL 33759-4553
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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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