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    500 2ND STREET Indian Rocks Beach, FL 33785

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    Claim this Listing
    For Lease
    $2,300/Mo $35 SF/Yr (calc)

    Office - INDIAN ROCKS BEACH, FL

    Type:Office
    Property size:
    768 SF
    Lot size:
    0.22 Acres
    Added:
    Oct 31, 2025
    Days on Market:
    184
    Last Refresh:
    May 2 at 11:06 am

    Property Features for 500 2ND STREET

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Exterior features
    Corner Lot, Paved
    Standard status
    Active
    APN
    12-30-14-37764-006-0110
    Size
    768 SF
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    6593

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1952
    Building materials
    Block, Stucco
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Sandy Risberg

    Listing agent Sandy Risberg License #3364266

    Listing office PLUMLEE GULF BEACH REALTY 417 First Street, Indian Rocks Beach, FL

    Listing date Oct 31, 2025

    MLS# TB8443753 Listing URL

    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.

    Overview

    Updated Office Space in IRB

    This updated office space is situated in the heart of the Indian Rocks Beach downtown business district. Zoned commercial, the property is suitable for professional uses. Located at the foot of the Walsingham bridge on the corner of Walsingham Rd (5th Ave) and 2nd St, it is across from Jake's Coastal Cantina, Crabby Bill's, and PJ's Oyster Bar. The location benefits from a substantial traffic count of nearly 20,000 AADT, in addition to foot traffic from tourists walking to the beaches and restaurants. The property is located only 1 to 1 1/2 blocks from the beach. The rental space includes commercial office space of 768 square feet. The garage storage space is optional. The lot size is 0.22 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indian Rocks Beach
    County
    Pinellas
    State
    Florida
    Longitude
    -82.848773
    Latitude
    27.885364

    Nearby Similar for Lease

    • $27,600 SF/Yr

      Indian Rocks Beach Office Space

      Updated office space in Indian Rocks Beach downtown business district.
      500 2ND St, Indian Rocks Beach, FL 33785
      View Details
    • $27 SF/Yr

      Prime Gulf Boulevard Retail/Office Space

      Highly visible retail or office space in Indian Rocks Beach.
      2701 Gulf Blvd, INDIAN ROCKS BEACH, FL
      View Details

    FAQs

    What type of property is this?
    Office units - Commercial office space with garage and storage in Indian Rocks Beach.
    Where is this office units located?
    The property is located at 500 2ND STREET Indian Rocks Beach, FL.
    What is the lease rate?
    The lease rate is $2,300 /Mo.
    What are key features of this property?
    This property features: Prime location in the heart of Indian Rocks Beach downtown business district on Walsingham Rd (Florida State Road 688).; High traffic count of nearly 20,000 AADT plus significant foot traffic.; Zoned commercial, suitable for professional use.
    (727) 439-3617
    We can help!
    Listing Contact
    Sandy Risberg
    Real Estate License ID: 3364266
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    500 2ND STREET, INDIAN ROCKS BEACH, FL 33785

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