For Sale
$3,850,000

3245 Executive DrClearwater, FL 33762

6,300 SF NNN Leased Daycare, Clearwater, FL

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a ±6,300 square foot, single-tenant, absolute NNN leased daycare center in Clearwater, Florida. Located at 3245 Executive Dr, Clearwater, FL 33762, this property boasts a strong 6.42% cap rate and a substantial remaining lease term of approximately 8.8 years, expiring August 31, 2033, with two 5-year renewal options. The tenant, an established early childhood academic operator, occupies the entire building, currently operating at 100% occupancy since September 1, 2022. The lease includes annual rent bumps of 3%, ensuring consistent income growth. Built in 1988 and extensively renovated in 2022, the property sits on a 0.61-acre lot with 18 parking spaces and benefits from a prime location in a high-growth area, across from Raymond James' Global HQ, and near major roadways including I-275. The property's zoning is Commercial Corridor (CCS-1). The Net Operating Income (NOI) is $247,296, and the asking price is $3,850,000, resulting in a price per square foot of $611.11. This is a truly passive investment opportunity with strong underlying real estate fundamentals and a proven, locally-based operator. The property's strategic location within a dense residential and professional community in a rapidly growing MSA makes it an ideal investment for long-term growth and stability.

Highlights

  • Prime I-275 location, near St. Pete-Clearwater International Airport, at high-traffic Ulmerton & Roosevelt Blvd intersection, offering easy access to Clearwater, Tampa, and St. Petersburg.
  • Absolute NNN lease with a local, established operator; no landlord responsibilities.
  • Situated in a thriving area with strong residential, office, and retail presence.
  • High demand location operating at full capacity with a waiting list.

Property Details for 3245 Executive Dr

Property type
Day care centers & nurseries, Retail properties
Square Feet
6,300 SF
Year Built/Renovated
1988/2022
Buildings
1
Stories
1
Lot Size (sq. ft)
26,572 SF

Location Insight

City
Clearwater
County
Pinellas
State
Florida
Latitude
27.894611582129
Longitude
-82.677686463326
3245 Executive Dr, Clearwater, Florida

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3245 Executive Dr
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