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

    3131 Mcmullen Booth Rd Clearwater, FL 33761-2008

    • Office buildings
    • 52,350 SF
    • 3.50 lot acres
    OFF-MARKET
    Value Estimations
    $9,900,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4873417
    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

    • Diagnostic Clinic / Medical Clinic
    • Dr. Vipul Pandya, MD / Physician
    • Flores Jesse H MD / Pediatrician / Physician
    • Rodney S. Daniel, M.D. / Physician
    • Doran James E MD / Physician

    Property Details for 3131 Mcmullen Booth Rd

    Year built
    1988
    Construction
    CONCRETE BLOCKS
    Lot size
    3.50 lot acres
    Property size
    52,350 SF
    Property type
    Office buildings
    APN
    21-28-16-00000-240-0900
    APU
    212816000002400900

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,899,000
      Market price range: $7.83M - $15.3M
      AI Estimate
      $9,899,000
      Market price range: $7.83M - $15.3M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $11,935,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $12,640,000
      Change: +6% Conversion: Easy
      RETAIL STORES
      $10,885,000
      Change: -9% Conversion: Moderate
      WAREHOUSE, STORAGE
      $10,665,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clearwater
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7079
    Latitude
    28.035
    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
    $116,186
    $0.00
    $0.00
    $6,700,000
    -
    $1,191,609
    $5,508,391
    $6,700,000

    Comparable in this City

    • Value Estimation
      $880,000
      4,092 SF

      2715 State Rd 580

      OFFICE BUILDING • 4,092 SF
      2715 State Rd 580, Clearwater, FL 33761-3343
      View Details
    • Value Estimation
      $2,200,000
      14,712 SF

      28051 Us Hwy 19th N

      OFFICE BUILDING • 14,712 SF
      28051 Us Hwy 19th N, Clearwater, FL 33761-2647
      View Details
    • Value Estimation
      $5,025,000
      39,008 SF

      28059 Us Hwy 19th N, Unit 206

      OFFICE BUILDING (MULTI-STORY) • 39,008 SF
      28059 Us Hwy 19th N, Clearwater, FL 33761-2633
      View Details
    • Value Estimation
      $4,870,000
      17,220 SF

      29296 Us Hwy 19th N

      PROFESSIONAL BUILDING • 17,220 SF
      29296 Us Hwy 19th N, Clearwater, FL 33761-2190
      View Details
    • Value Estimation
      $2,055,000
      10,399 SF

      26301 Us Hwy 19th N

      OFFICE BUILDING • 10,399 SF
      26301 Us Hwy 19th N, Clearwater, FL 33761-3509
      View Details
    • Value Estimation
      $930,000
      4,020 SF

      29228 Us Hwy 19th N

      OFFICE BUILDING • 4,020 SF
      29228 Us Hwy 19th N, Clearwater, FL 33761-2101
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      22,955 SF

      Clearwater Office Complex For Sale

      22,955 SF office complex in Clearwater's Countryside area.
      2753 State Road 580, Clearwater, FL 33761
      View Details
    • Contact for pricing
      41,604 SF

      Clearwater Office Building For Sale

      Office building with long-term tenants and recent renovations.
      26286 N Us Highway 19, Clearwater, FL 33761
      View Details
    • $3,999,000
      22,955 SF

      Prime Clearwater Office Complex

      22,955 SF Executive Office Building
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      Retail/Office Space on US Hwy

      Corner unit suitable for retail or office use.
      29194 Us Highway 19 N, Clearwater, FL 33761
      View Details
    • $3,999,000
      22,955 SF

      Prime Clearwater Office Complex

      Spacious Office Building, Excellent Location
      2753 State Road 580, Clearwater, FL 33761
      View Details
    • $265,000
      1,106 SF

      Medical Office on US Highway

      Well-located medical office suitable for various medical or wellness uses.
      28960 Us Highway 19 N, Clearwater, FL 33761
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    Similar Nearby for Lease

    • Contact for pricing
      3,536 SF

      Clearwater Class-A Office Space

      Prominent five-story office building with on-site amenities.
      28050 Us Highway 19 North, Clearwater, FL 33761
      View Details
    • $6 SF/Yr
      6,033 SF

      Clearwater Office Space for Lease

      Flexible Offices, Coworking & More
      29399 Us Highway 19, Clearwater, FL 33761
      View Details
    • $19 SF/Yr
      1,843 SF

      Countryside Financial District Office Space

      Office space in a unique Mediterranean style building.
      28163 Us Highway 19, Clearwater, FL 33761
      View Details
    • Contact for pricing
      1,480 SF

      Clearwater Office Space Available

      Office suite with reception and private restroom for rent.
      28801 N Us Highway 19, Clearwater, FL 33761
      View Details
    • Sponsored
      New
      Contact for pricing

      FL, Clearwater - US Highway 19N

      Discover many ways to work your way in FL, Clearwater - US Highway 19N
      29399 Us Highway 19, Clearwater, FL 33761
      View Details
    • $16 SF/Yr
      3,125 SF

      Republic Office Center: Clearwater Office Space

      Prime Clearwater Office, 3,000+ SF Available
      28051 Us Highway 19, Clearwater, FL 33761
      View Details
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    Clearwater, FL 33761-2008
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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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