Medical Office
For Sale
$599,000
2101 INDIAN ROCKS Road S, Largo, FL 33774
Commercial Sale, LARGO, FL
Property Size2,660 SF
Lot Size0.40 Acres
Price / SF$225.19
Days on Market61
Property Features for 2101 INDIAN ROCKS Road S
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
ACREAGE & UNREC
Directions
From HCA Largo West On Indian Rocks Road. Head South 0.2 Miles And Property Will Be On Your Left.
Standard status
Active
APN
05-30-15-00000-330-0200
Size
2,660 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PART OF SW 1/4 OF SEC 05-30-15 DESC BEG MOST N'LY COR OF LOT 16, HARBOR HEIGHTS SUB TH S54D35'27"W 61.28FT TH N33D30'30"W 226.87FT TH N56D35'27"E 93.22FT TH S25D24'33"E 226.94FT TO POB
Tax Annual Amount
6266
Legal Description
PART OF SW 1/4 OF SEC 05-30-15 DESC BEG MOST N'LY COR OF LOT 16, HARBOR HEIGHTS SUB TH S54D35'27"W 61.28FT TH N33D30'30"W 226.87FT TH N56D35'27"E 93.22FT TH S25D24'33"E 226.94FT TO POB
Utilities
Cooling system
Central Air
Building Details
Year built
1957
Floors in Building
1
Number of units
2
Building materials
Block
Listing Agency:
FUTURE HOME REALTY INC
(813) 855-4982
Listed By:
James Bailey · License #3368352
(727) 809-3038
Added: Jul 1
Changed: Aug 24
Last Checked: Aug 30 at 5:06AM
MLS# W7887327
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 medical office property contains two nearly equal private units within a block building constructed in 1957. Central air serves the building, and a new roof was installed in 2025. The configuration can accommodate an owner-user or separate leasing arrangements, subject to the City of Largo’s Residential/Office-General zoning.
The 0.4-acre parcel includes 24 parking spaces, wrap-around parking, and additional green space. Located on Indian Rocks Road S, the property is within 0.2 miles of HCA Largo West Hospital and provides access to the Alt-19, Walsingham Road, and Gulf Boulevard corridors. Its setting also serves nearby West Pinellas residential districts.
The 0.4-acre parcel includes 24 parking spaces, wrap-around parking, and additional green space. Located on Indian Rocks Road S, the property is within 0.2 miles of HCA Largo West Hospital and provides access to the Alt-19, Walsingham Road, and Gulf Boulevard corridors. Its setting also serves nearby West Pinellas residential districts.
Key Highlights
- Two nearly evenly split private medical office units
- 0.4‑acre parcel with 24 parking spaces and additional green space
- New roof installed in 2025
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
$41,300
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
6.89%
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%
$826,000
$826.0K
Cap Rate 7%
$590,000
$590.0K
Cap Rate 9%
$458,889
$458.9K
Market Conditions
NOI Build-Up for 2,660 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
$69.3K $26.04/SF
− Vacancy
−$14.2K −$5.34/SF
EGI
$55.1K $20.70/SF
− OpEx
−$13.8K −$5.18/SF
NOI
$41.3K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /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%
$826,000
Cap Rate 7%
$590,000
Cap Rate 9%
$458,889
Alternative Uses
Best Use
Office B
$590.0K
$516.3K – $688.3K
NOI $41,300 @ 7.0% cap · market cap 6.89%
Second Best
Healthcare Medical
$350.5K
$306.7K – $408.9K
NOI $24,534 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$691.9K
$605.4K – $807.2K
NOI $48,432 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33774, FL
18,145
Population
10,388
Households
1.7
Avg Household Size
51
Median Age
28%
College-Educated
93%
High-School Grad
4.6 sq mi
ZIP Area
3,945
Density / Sq Mi
$76,769
Median Household Income
$41,936
Median Earnings
$1,498
Median Rent
$315,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two private suites, wrap-around parking, and Residential/Office-General zoning support flexible professional occupancy.
Where is this medical office space located?
The property is located at 2101 INDIAN ROCKS Road S Largo, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two nearly evenly split private medical office units; 0.4‑acre parcel with 24 parking spaces and additional green space; New roof installed in 2025
