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26751908
26751921

26286 US Hwy 19 N, Clearwater, FL 33761

GF
TX 0593051, TX: 0593051
Colliers - Dallas, Texas
ZF
TX TX 688207
Colliers - Dallas, Texas
DV
IL IL 471022014
Colliers
Listed by Colliers - Dallas, Texas, Colliers
$23,947,714
284 days on market
Updated 2 days ago

U.S. Department of Veterans Affairs & Evara Health Clinics

Details
Property Type Office
Sub Type Executive Office
Net Rentable (SqFt) 41,604
Cap Rate 7%
NOI $1,676,340
Occupancy 100%
Tenancy Multi
Lease Term 15
Lease Expiration 12/09/2036
Remaining Term 10.5
Class A
Year Built 1984
Year Renovated 2024
Buildings 1
Stories 1
Acreage 4.190
Lease Commencement 12/10/2021
Ownership Fee Simple

​​​​​​​U.S. Veterans Affairs & Evara Health Clinics | Clearwater, FL | Long Term Tenants

Marketing description

The Ficke Team of Colliers has been retained to exclusively market for sale for the U.S. Department of Veterans Affairs and Evara Health Clinics office located at 26286 US Highway 19 North, Clearwater, Fl 33761.

Built in 1984 and renovated in 2021and 2024 specifically for these tenants, the building comprises 41,604 rentable square feet on 4.19 acres. It is currently 100% occupied by the U.S. Department of Veterans Affairs and Evara Health. The VA occupies the space under a Modified Gross lease structure with a 15-year term, for which ~11.5 years remain currently. Evara Health is on a Triple Net (NNN) lease, offering minimal landlord responsibilities, with a 20 years lease total term and ~19 years remaining on the term.

The U.S. Department of Veterans Affairs (VA) is a federal Cabinet-level agency providing comprehensive healthcare and essential benefits to military veterans nationwide. The on-site Community-Based Outpatient Clinic (CBOC) offers a wide range of services including primary care, audiology, cardiology, dermatology, optometry, psychiatry, social work, and chronic disease education. Patients requiring hospitalization are stabilized and transferred to nearby facilities.

Evara Health is a not-for-profit, Federally Qualified Health Center (FQHC) serving underserved populations across Pinellas County. Founded in 1980, Evara operates over a dozen health centers and a mobile medical unit, reaching 60,000–70,000 patients annually. Services include primary care, pediatrics, dental, behavioral health, and specialty care, with a mission centered on equitable, patient-focused healthcare.

Clearwater, Florida, is a vibrant coastal city located in Pinellas County on the Gulf of Mexico, renowned for its stunning white-sand beaches, particularly Clearwater Beach, which consistently ranks among the top beaches in the United States. The city blends natural beauty with urban amenities, offering a wide range of recreational opportunities, from boating and fishing to vibrant dining, shopping, and entertainment scenes. Clearwater is also home to the Clearwater Marine Aquarium, a marine life rescue center made famous by the story of Winter the dolphin. With a population of just over 100,000, Clearwater serves as a key part of the Tampa Bay metropolitan area, balancing small-town charm with big-city accessibility. Its warm climate, diverse cultural attractions, and emphasis on community engagement make it a popular destination for tourists and a desirable place to live year-round.

Investment highlights

Long Term Tenants

Original 15 Year Firm Lease with ~11.5 Years Remaining for the VA & a 20 Year Firm Lease for Evara Health with ~19 years remaining.

Credit Quality

VA Lease guaranteed by the U.S. Government (S&P AA+ credit rating)

Recent Renovations

Complete renovation-to-suit to for both tenants in 2021 & 2024

Rent Escalations

3% Annual Operating Cost Rent Escalations for Evara and 1% Annual Operating Cost Rent Escalation for the Veterans Affairs

High Veteran Concentration

~7,700 Veterans in Clearwater City, Underscoring Strong Local Demand for Veteran Services.

Listing Contacts

GF
TX 0593051, TX: 0593051
Colliers - Dallas, Texas
ZF
TX TX 688207
Colliers - Dallas, Texas
DV
IL IL 471022014
Colliers
Listed by Colliers - Dallas, Texas, Colliers

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Loan Amount
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$1,676,340.00
$139,695.00/mo

Valuation Metrics

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DSCR
7%
Cap Rate
7%
ROI

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