For Sale
$1,400,000

1250 Rogers StClearwater, FL 33756

12-Unit Medical/Executive Office Building, High CAP Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 12-unit office building presents a compelling investment opportunity in Clearwater, Florida. Boasting 9,360 square feet, this Class B property, built in 1973 and extensively renovated in 2023, offers a blend of medical and executive office spaces. The asking price is $1,400,000, translating to $149.57 per square foot. All units are individually metered for electricity, providing efficient utility management. The property features Spanish Garden architecture and includes two oversized parking lots, adding significant value. Currently, ten of the twelve units are on month-to-month leases, offering flexibility for future income growth. The property's prime location in Clearwater, minutes from the beach, benefits from the ongoing Imagine Clearwater revitalization project, a multi-million dollar investment transforming the downtown waterfront. This project includes a new amphitheater, expanded park space, and improved waterfront access, promising increased foot traffic and property value appreciation. The projected capitalization rate is in the double digits, making this a highly attractive investment for discerning buyers seeking strong returns in a thriving coastal market. This is a rare opportunity to acquire a well-maintained, income-producing asset with significant upside potential in a rapidly developing area.

Highlights

  • 12-Unit Office Center
  • Spanish Garden Architecture
  • Mostly Month-to-Month Tenants (Two Exceptions)
  • Two Oversized Parking Lots Included
  • High Value-Add Potential, Double-Digit Cap Rate Expected
  • Separate Electric Meters for Each Unit

Property Details for 1250 Rogers St

Property type
Office properties, Medical offices
Square Feet
9,360 SF
Class
B
Year Built/Renovated
1973/2023
Units
12

Location Insight

City
Clearwater
County
Pinellas
State
Florida
Latitude
27.9602319
Longitude
-82.7846808
1250 Rogers St, Clearwater, Florida

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1250 Rogers St
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