Professional Office
For Sale
$425,000
1492 MARINER Boulevard, Spring Hill, FL 34609
Commercial Sale, SPRING HILL, FL
Property Size1,438 SF
Lot Size0.28 Acres
Price / SF$295.55
Days on Market88
Property Features for 1492 MARINER Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OP
Subdivision
SPRING HILL
Lot features
Corner Lot, Landscaped, Sidewalk, Street Lights, Paved
Directions
County Line Rd, Turn onto Mariner Blvd, turn right onto Lindsey Rd for parking lot.
Standard status
Active
APN
R32-323-17-5080-0479-0010
Size
1,438 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SPRING HILL UNIT 8 BLK 479 LOT 1
Tax Annual Amount
2781
Legal Description
SPRING HILL UNIT 8 BLK 479 LOT 1
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1981
Floors in Building
1
Flooring type
Vinyl, Tile - Ceramic
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
HOME LAND REAL ESTATE INC
(352) 556-0909
Listed By:
Joshua Burbank · License #677255
(352) 279-2379
Added: Jun 19
Changed: Sep 4
Last Checked: Sep 14 at 11:06PM
MLS# W7886183
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office property occupies approximately 0.28 acres on Mariner Boulevard in Spring Hill and carries OP, or Office Professional, zoning. The building includes a reception area, three private offices, a conference room, kitchen, and two updated restrooms. Interior features include luxury vinyl plank and ceramic tile flooring, French doors, recessed LED lighting, ceiling fans, and built-in shelving.
Recent improvements include an architectural shingle roof, central HVAC, interior and exterior painting, and expanded parking. The site receives exposure to approximately 25,000 vehicles per day and offers signage opportunities along the roadway. Electricity is available, with public water and a septic tank serving the property. The address is near major roadways, retail centers, restaurants, and established residential communities.
Recent improvements include an architectural shingle roof, central HVAC, interior and exterior painting, and expanded parking. The site receives exposure to approximately 25,000 vehicles per day and offers signage opportunities along the roadway. Electricity is available, with public water and a septic tank serving the property. The address is near major roadways, retail centers, restaurants, and established residential communities.
Key Highlights
- OP zoning supports office‑professional use
- Approximately 0.28‑acre parcel on Mariner Boulevard
- Exposure to approximately 25,000 vehicles per day
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,090
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$421,800
$421.8K
Cap Rate 7%
$301,286
$301.3K
Cap Rate 9%
$234,333
$234.3K
Market Conditions
NOI Build-Up for 1,438 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.2K $25.20/SF
− Vacancy
−$8.1K −$5.64/SF
EGI
$28.1K $19.56/SF
− OpEx
−$7.0K −$4.89/SF
NOI
$21.1K $14.67/SF
Area
Spring Hill, FL
Vacancy
22.40%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$421,800
Cap Rate 7%
$301,286
Cap Rate 9%
$234,333
Alternative Uses
Best Use
Office B
$301.3K
$263.6K – $351.5K
NOI $21,090 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$459.8K
$402.3K – $536.4K
NOI $32,183 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 34609, FL
43,997
Population
18,426
Households
2.4
Avg Household Size
46
Median Age
22%
College-Educated
91%
High-School Grad
22.2 sq mi
ZIP Area
1,982
Density / Sq Mi
$79,284
Median Household Income
$40,789
Median Earnings
$1,593
Median Rent
$275,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - OP-zoned commercial property with a flexible interior layout, updated building systems, and direct exposure along Mariner Boulevard.
Where is this office building located?
The property is located at 1492 MARINER Boulevard Spring Hill, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: OP zoning supports office‑professional use; Approximately 0.28‑acre parcel on Mariner Boulevard; Exposure to approximately 25,000 vehicles per day
