SOLDOffice
Melrose Solomon Acquires Office Property In Clearwater From IP Capital Partners For $18.7M
17755 Us Highway 19 North
$18,700,000
$87/SF
Building Size
214,854 SF
Asset Type
Office
Closing
Oct 15, 2026
About this deal
AI
The property asset involved in this transaction is located at 17755 & 17757 US Highway 19 North in Clearwater. It falls under the asset type of office, with a sale price of $18,700,000. The total square footage of the property is 214,854, which results in a price per square foot of $87.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $18,700,000
- Address: 17755 & 17757 US Highway 19 North
- Market: Clearwater
- Square Footage: 214,854
- Price per Square Foot: $87
- Buyer: Melrose Solomon
- Seller: IP Capital Partners
- Broker Representatives: Douglas K. Mandel, Zach Levine, James Defusto, Cody Hershey & Marko Kazanjian - Institutional Property Advisors - Marcus & Millichap
The key individuals in this transaction include the buyer Melrose Solomon and the seller IP Capital Partners. The deal was facilitated by a team of broker representatives from Institutional Property Advisors at Marcus & Millichap, comprising Douglas K. Mandel, Zach Levine, James Defusto, Cody Hershey, and Marko Kazanjian.
On the Map
$18,700,000
$87/SF
Office
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Players
IP CAPITAL PARTNERSSeller
Clearwater Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93