RIPCO Real Estate is pleased to offer for sale Powell Professional Center, a four-story, 46,464 SF medical/office building located near the intersection of Corbett St and S Ft
Harrison Ave in Clearwater, FL. The property is currently 68.9% occupied by 14 tenants with 7 vacant units. In addition to the vacant units, 10 of the 14 tenants have no options
remaining, giving an investor near-term control of the rent roll and full flexibility to negotiate renewals, reset expense base years, and remix the tenancy at rollover. Powell Professional Center is located adjacent to BayCare’s Morton Plant Hospital, a 687-bed facility with more than 50,000 patients annually. This stretch of S Ft Harrison Ave where the property is located has an AADT of 17,500. Within 3 miles of Powell Professional Center, there is a population of 86,333 and an average household income of $103,259.
The asset is an attractive opportunity for investors looking for a value-add office asset with lease-up opportunity, 10 of the 14 tenants without any options remaining, and located adjacent to Morton Plant Hospital, driving demand for medical users in the area.