C1-Zoned Flex
For Sale
$595,000
15520 CORTEZ Boulevard, Brooksville, FL 34613
Commercial Sale, BROOKSVILLE, FL
Property Size4,404 SF
Lot Size0.44 Acres
Price / SF$135.10
Days on Market126
Property Features for 15520 CORTEZ Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
POTTERFIELD GARDEN AC - H
Lot features
Paved
Directions
US 19 (Commercial Way) turn onto US 50 (Cortez Blvd) property is after the onramp to 589.
Standard status
Active
APN
R25-222-18-3100-0000-0080
Size
4,404 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
POTTERFIELD GARDEN ACRES SEC H LOT 8
Tax Annual Amount
3670
Legal Description
POTTERFIELD GARDEN ACRES SEC H LOT 8
Utilities
Sewer type
Septic Tank
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Well
Building Details
Year built
1995
Floors in Building
1
Building materials
Frame
Roof type
Metal
Listing Agency:
HOME LAND REAL ESTATE INC
(352) 556-0909
Listed By:
Kimberly Pye, PA · License #3315876
(352) 279-1150
Added: May 12
Changed: Aug 20
Last Checked: Sep 14 at 10:06PM
MLS# W7885575
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 flex property includes two buildings on a 0.44-acre parcel. The primary building contains 4,400 square feet and was built in 1995, while the second building provides 1,215 total square feet, including 684 square feet under air, one bathroom, and a 1958 construction date. The improvements support equipment storage, parts handling, workshop functions, and office use. The site is fenced and gated, with frame construction, metal roofing, window or wall/window cooling, well water, and a septic tank.
Located on Cortez Boulevard, also identified as State Road 50, the property has 100 feet of highway frontage and a 100-by-200-foot lot that narrows to 92 feet at the rear. It sits east of the Suncoast Parkway and across from Dollar General and Enterprise Car Rental. Reported daily traffic is 22,500 vehicles. C1 zoning applies.
Located on Cortez Boulevard, also identified as State Road 50, the property has 100 feet of highway frontage and a 100-by-200-foot lot that narrows to 92 feet at the rear. It sits east of the Suncoast Parkway and across from Dollar General and Enterprise Car Rental. Reported daily traffic is 22,500 vehicles. C1 zoning applies.
Key Highlights
- 4,400‑square‑foot primary building constructed in 1995
- Second building totals 1,215 square feet, including 684 square feet under air and one bathroom
- 0.44‑acre site with 100 feet of frontage on Cortez Boulevard / State Road 50
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
$47,405
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
7.97%
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%
$948,100
$948.1K
Cap Rate 7%
$677,214
$677.2K
Cap Rate 9%
$526,722
$526.7K
Market Conditions
NOI Build-Up for 4,404 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
$79.3K $18.00/SF
− Vacancy
−$6.3K −$1.44/SF
EGI
$72.9K $16.56/SF
− OpEx
−$25.5K −$5.80/SF
NOI
$47.4K $10.76/SF
Area
Pasco County, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$948,100
Cap Rate 7%
$677,214
Cap Rate 9%
$526,722
Alternative Uses
Best Use
Flex RnD
$677.2K
$592.6K – $790.1K
NOI $47,405 @ 7.0% cap · market cap 7.97%
Second Best
Industrial
$504.8K
$441.7K – $589.0K
NOI $35,337 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$1.00M
$877.8K – $1.17M
NOI $70,224 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
22,500 VPD
Traffic count
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34613, FL
18,869
Population
10,532
Households
1.8
Avg Household Size
61
Median Age
21%
College-Educated
92%
High-School Grad
37.2 sq mi
ZIP Area
507
Density / Sq Mi
$56,175
Median Household Income
$36,815
Median Earnings
$1,108
Median Rent
$181,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Highway-fronting property offers a fenced, gated site with workshop, equipment-storage, and office possibilities.
Where is this flex space located?
The property is located at 15520 CORTEZ Boulevard Brooksville, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 4,400‑square‑foot primary building constructed in 1995; Second building totals 1,215 square feet, including 684 square feet under air and one bathroom; 0.44‑acre site with 100 feet of frontage on Cortez Boulevard / State Road 50
