3245 Executive DrClearwater, FL 33762

Property Details for 3245 Executive Dr

Year built

1988

Construction

CONCRETE BLOCKS

Lot size

0.61 AC

Property size (Sq ft)

6,254 SF

Property type

Specialty properties

Property subtype

Day care centers & nurseries

APN

02-30-16-00000-330-0200

APU

23016000003300200

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,191,772

  6.5%

  $1,100,098

  7%

  $1,021,519

• Comparable approach

  Method

  Valuation

  Relative Method

  $793,145

  Geo Method

  $793,145

• Alternative Use

  Use

  Valuation

  Residential

  $1,395,520

  Hospitality

  $1,278,289

  Educational

  $1,063,522

  Medical

  $1,100,098

  Retail

  $1,654,367

Location Insight

City

Clearwater

County

Pinellas

State

Florida

Latitude

27.8948

Longitude

-82.6777

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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