601 Belcher Rd - Medical FOR SALE


Clearwater, FL 33764- South Clearwater
$2,890,000 USD
805-666-8378
601 Belcher Rd, Clearwater, FL for Sale
$2,890,000 USD
Medical - FOR SALE
1/17
null | 5.27% Cap Rate

601 Belcher Rd
Clearwater, FL 33764
South Clearwater


HIGHLIGHTS

  • Strong medical operator
  • Minimal Landlord responsibilities
  • 5.7 Years Remaining on Lease Term with annual 3% increases
  • Low rent per SF - very replaceable at $21.49/SF
  • Business model caters to demographics
  • 257,000 residents within five (5) miles of the property.

OVERVIEW

CBRE is pleased to present an opportunity to acquire a fully occupied, ±7,092 SF single tenant medical office located on Belcher Road, directly off of the busiest east-west corridor in Pinellas County: Gulf-to-Bay Boulevard (State Road 60). This intersection has a combined 69,300 cars passing by each day, and provides easy, direct access for customers and employees alike. With more than 257,000 residents within five (5) miles of the property, this location enjoys close proximity to numerous eateries, shopping options, gas stations, and pharmacies. It is a short distance east of award winning Clearwater Beach, and approximately 15 miles west of Tampa, Florida, making Robson Eye Institute a convenient location to patients all over Tampa Bay. The asset would be ideal for a 1031-investor seeking a stable, single-tenant asset that is well-maintained with minimal landlord responsibilities, located in a densely populated section of one of the largest cities in Tampa Bay, and Florida. Additionally, the landlord will benefit from massive compounding annual base rent increases of 3%, and the collection of additional revenue from a management and admin fee reimbursement by the tenant for a passive net leased investment that has historically been easily maintained by the landlord directly.

FOR SALE DETAILS

PRICE

$2,890,000 USD

PRICE/SF

$408 USD /SF

CAP RATE

5.27%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Clearwater Free Standing Medical Office

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,829 SF

ZONING

Commercial

APN/PARCEL ID

18-29-16-92650-000-0010

ASK ABOUT THIS PROPERTY

James GarnerCBREMore Info
805-666-8378

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James GarnerCBREMore Info
805-666-8378

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.