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Office

Parkside Office Portfolio

24703 US Hwy 19 N, Clearwater, FL 33763

Listing Price: $4,600,000

Cap Rate
6.25%
Gross SF
34,857
Rentable SF
34,857
Price/Gross SF
$131.97
Lot Size
3.95 acres
Year Built
1983

Investment Overview

Marcus & Millichap is pleased to present this five parcel office portfolio located on the east side of US Highway 19 North in the city of Clearwater, Florida. The portfolio is compiled of five office buildings, comprising a total of 34,857 square feet. The offering is currently 50% occupied with the opportunity to double the cap rate within the year with professional management. The subject has one point of ingress/egress at Sunset Point Boulevard and US Highway 19 North. Currently two of the five buildings are fully occupied with tow national medical tenants: Trulieve and Ark Post Acute Network. The rest of the occupancy includes a mix of local doctors and DOCMJ. Well-known developer Aventon Companies closed on a 22-acre property, formerly a mobile home park, to build a large apartment complex adjacent to the property. The complex will have 10 garden-style buildings. The units have one to three bedrooms and range from 752 square feet to 1,488 square feet. These previously owner-occupied buildings are a great opportunity for a new investor to come into the Tampa MSA, one of the premier Central Florida office markets.

Investment Highlights

  • Located Between Two Major Retail Arteries Including Independence Square, Cypress Point, and Coast Plaza
  • Population of Over 103,000 Within a Three Mile Radius
  • Traffic Counts Along US Highway 19 North Over 89,000 AADT

Exclusively Listed By

Office

Parkside Office Portfolio

Listing Price: $4,600,000

Cap Rate
6.25%
Gross SF
34,857
Rentable SF
34,857
Price/Gross SF
$131.97
Lot Size
3.95 acres
Year Built
1983

Investment Highlights

  • Located Between Two Major Retail Arteries Including Independence Square, Cypress Point, and Coast Plaza
  • Population of Over 103,000 Within a Three Mile Radius
  • Traffic Counts Along US Highway 19 North Over 89,000 AADT

Investment Overview

Marcus & Millichap is pleased to present this five parcel office portfolio located on the east side of US Highway 19 North in the city of Clearwater, Florida. The portfolio is compiled of five office buildings, comprising a total of 34,857 square feet. The offering is currently 50% occupied with the opportunity to double the cap rate within the year with professional management. The subject has one point of ingress/egress at Sunset Point Boulevard and US Highway 19 North. Currently two of the five buildings are fully occupied with tow national medical tenants: Trulieve and Ark Post Acute Network. The rest of the occupancy includes a mix of local doctors and DOCMJ. Well-known developer Aventon Companies closed on a 22-acre property, formerly a mobile home park, to build a large apartment complex adjacent to the property. The complex will have 10 garden-style buildings. The units have one to three bedrooms and range from 752 square feet to 1,488 square feet. These previously owner-occupied buildings are a great opportunity for a new investor to come into the Tampa MSA, one of the premier Central Florida office markets.

Exclusively Listed By

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