Clearwater Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $23.12 2024 Avg. Asking Rent
  • 12.96% 2024 Office Vacancy Rate
  • $68.7M2024 Total Office Sales
  • $145.12Avg. Sale Price/SF

Clearwater office price per square foot in 2024 was $23.12 on average. The local office market recorded an average vacancy rate of 12.96% across all asset classes combined. The 8 transactions that closed here throughout 2024 amounted to a total sale volume of $68.7M. Clearwater office space commanded an average sale price per square foot of $145.12.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Florida Class A & A+ Office Space$40.20
  • Florida Class B Office Space$27.71
  • Florida Class C Office Space$22.62

Clearwater, FL Office Asking Rents by Class

2024 Office Vacancy Rates in Clearwater

Submarket Asking Rents Vacancy Rates
Bayside $24.53 19.41%
Gateway $23.65 22.76%
Clearwater $21.69 14.09%
North Pinellas County $20.10 12.54%
Mid-Pinellas County $17.17 8.51%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Clearwater market was 12.96% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Clearwater was 8.51% in the Mid-Pinellas County submarket, while the highest office vacancy in the market was 22.76%, recorded in Gateway.

Office Spaces for Rent in Florida

Clearwater Office Sale Price per SF

  • $145.122024 Avg. Price per SF
  • 30.23%Y-o-Y Avg. PpSF Change
  • $68.7M2024 Office Sales Volume
  • 82024 Number of Transactions

Clearwater, FL Sale Price per SF Trend

  • Clearwater Avg. Sale Price per SF in 2024$145.12
  • Florida Avg. Sale Price per SF in 2024$221.95
Clearwater office space cost in 2024 marked a +30.23% change compared to the previous year. The sale price for office space in Clearwater averaged $145.12 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Florida average office sale price during the same time period was $221.95 per square foot.

2024 Office Sales Volume

  • Clearwater, FL Total Office Sales Volume in 2024 $68.7M
  • Clearwater, FL Total Number of Office Sales Closed in 2024 8
A total of 8 deals closed on the Clearwater office market in 2024, adding up to a yearly sales volume of $68.7M. Notably, the largest transaction on the market saw Bank of America Tower change hands for $33,200,000 on 4/2/2024.
Data provided by Yardi Research

Coworking Spaces in Florida

2024 Office Construction in Clearwater, FL

Largest Office Properties Recently Completed in Clearwater
Office building Address SF Completed
2729 State Road 580 2729 State Road 580, 33761 4,058 2000
Water's Edge Office Center 2963 Gulf to Bay Blvd., 33759 36,449 1992
Countryside Place 2605 Enterprise Road East, 33759 56,880 1988
Harbourside Grande Crossings 18167 US Highway 19 N., 33764 155,000 1987
26750 US Route 19 North 26750 US Route 19 North, 33761 53,723 1987
Northside Square - 29399 US Highway 19 North 29399 US Highway 19 North, 33761 49,994 1986
Northside Square - 29245 US Highway 19 North 29245 US Highway 19 North, 33761 35,986 1986
28163 US Highway 19 North 28163 US Highway 19 North, 33761 26,320 1986
Gulf to Bay Office Space 2560 Gulf To Bay Blvd, 33765 20,886 1986
BELCHER BLUFFS COMPOUND 2233 Nursery Road, 33764 5,156 1986

Worth noting among recent office completions on the Clearwater market is 2729 State Road 580, which is currently the largest new office development in the city, at 4,058 square feet.

Data provided by Yardi Research

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Clearwater commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.