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13830 58th St N, Clearwater, FL 13920 58th St N, Clearwater, FL 13922 58th St N, Clearwater, FL 13923 Icot Blvd, Clearwater, FL 13921 Icot Blvd, Clearwater, FL
ICOT Business Center
Asset ClassOffice
Square Feet88,389
# Buildings: 5# Tenants: 21% Leased: 73%Access Data Room
± 88,389 SF Business Center with 73% Occupancy | Located in the Most Densely Populated County in Florida
overview of deal

Overview

Colliers, as exclusive advisor, is pleased to introduce the ICOT Business Center located in the heart of Pinellas County, Florida. This professional business center provides varying suite sizes, above-market parking ratio, proximity to the St. Pete/Clearwater International Airport, and nearby amenities that enhance employee retention.

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Investment Highlights

# Buildings
5
# Tenants
21
Occupancy
73%

Offered Free and Clear: The Property is offered free and clear of existing financing and is an ideal fit for a 1031 exchange requirement.

Isolated Ecosystem: Pinellas County functions as a smaller ecosystem within the Greater Tampa Bay MSA, enabling a predictable forecast of demand profiles and economics.

High Quality Tenancy: The Rent Roll provides an investor with a diverse set of Tenant industries, coupled with a staggered lease roll averaging approximately 10.9 % roll over the next three years.

High Barriers to Entry: Located in the most densely populated county (Pinellas) within the state of Florida, the Property benefits from having a competitive set with limited alternative like-kind assets creating long-term, predictable growth in rents.

Coveted Single-Story Product: A highly desirable asset class across the CRE spectrum, the Property provides a future investor with garden style suite sizes ranging from 890 SF up to 12,170 SF.

Value-Add and Upside Potential: The Property is ±73% leased and is expected to trade significantly below replacement cost with the opportunity to continue converting and increasing to higher market NNN rents (± 3.5 Year W.A.L.T.).

Property Summary

ICOT Business Center
Address
13830- 13922 N 58th St & 13921-13923 Icot Blvd., Clearwater, FL
County
Pinellas
Tax District
City of Largo
Zoning
Industrial Limited (IL)
Total Acres (ICOT 4)
4.37 (Condo Ownership)
Total Acres (ICOT 7-10)
6.37
Total Size (SF)
± 88,389 SF
Buildings
5
Occupancy
72.9%
Year Built
1986-1988
Parking Ratio
4.3/1,000
Average Historical Tenancy
4.2 Years
Number of Tenants
21
Average Size Tenant (SF)
3,064 SF
W.A.L.T.
3.42
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13830 58th St NClearwater, FL 33760
St. Pete/Clearwater Airport (PIE)
Carillon Park
Feather Sound
Downtown Clearwater
Downtown St. Petersburg
Tampa International Airport (TPA)

Contact Us

Paul CarrExecutive Managing Director, Investment Services(813) 605-4475paul.carr@colliers.com
Nicholas CoccodrilliSenior Investment Analysis Director | Florida Sales Associate(813) 605-4460nicholas.coccodrilli@colliers.com
Robyn HurrellExecutive Vice President+1 813 226 7540robyn.hurrell@colliers.com
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Listing provided by Revere CRE