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.