Versatile Commercial Property on Highway
For Sale
$695,000
10221 US HIGHWAY 301, Dade City, FL 33525
Mixed-use property with high visibility and flexible space configurations.
Property Size4,208 SF
Lot Size1.00 Acre
Price / SF$141.84
Days on Market101
Property Features for 10221 US HIGHWAY 301
General Information
Standard status
Active
Size
4,208 SF
Lot size
1.00 Acre
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,510
Building Details
Building Size
4,208 SF
Year Built
1973
Stories
1
Listing Agency:
BINGHAM REALTY INC
(813) 713-3974
Listed By:
William Bingham
(813) 713-3974
Source:
Elliman
Added: May 19
Changed: Aug 16
Last Checked: Aug 26 at 12:18PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BINGHAM REALTY INC
Investment Insights
Based on property information with market context.
This commercial property is located along US Highway 301 between Dade City and Zephyrhills. It offers visibility, accessibility, and functionality for various business uses. The property benefits from US 301 frontage with a full-access median cut, allowing northbound and southbound access, along with monument signage. The site features a mix of office, retail/showroom, and warehouse space, making it suitable for owner-users, contractors, service companies, trade businesses, or investors seeking flexible commercial space. The front building includes finished office and customer-facing areas configured with reception, private offices, salon-style work areas, breakroom facilities, and multiple workspaces adaptable for professional office, retail, medical, or service-oriented uses. The rear includes warehouse/service bay space with roll-up doors, storage areas, and fenced yard components suitable for equipment storage, contractor operations, fleet parking, or light industrial use. The layout provides operational flexibility with separate work areas and multiple points of access. Constructed of concrete block with approximately 4,900 square feet situated on approximately 1 acre, the property offers parking, visibility, and room for commercial applications. Additional features include asphalt driveway access, chain-link fencing, canopy area, and roadside presence in East Pasco County’s commercial corridors.
Key Highlights
- High visibility with direct US Highway 301 frontage and prominent monument signage.
- Versatile mixed‑use space including office, retail/showroom, and warehouse areas.
- Convenient access with a full‑access median cut for both northbound and southbound traffic.
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
$60,858
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
8.76%
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%
$1,217,160
$1.2M
Cap Rate 7%
$869,400
$869.4K
Cap Rate 9%
$676,200
$676.2K
Market Conditions
NOI Build-Up for 4,900 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
$105.8K $21.60/SF
− Vacancy
−$8.5K −$1.73/SF
EGI
$97.4K $19.87/SF
− OpEx
−$36.5K −$7.45/SF
NOI
$60.9K $12.42/SF
Area
Pasco County, FL
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,217,160
Cap Rate 7%
$869,400
Cap Rate 9%
$676,200
Alternative Uses
Best Use
Mixed Use
$869.4K
$760.7K – $1.01M
NOI $60,858 @ 7.0% cap · market cap 8.76%
Second Best
Retail
$687.2K
$601.3K – $801.8K
NOI $48,106 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$1.12M
$976.7K – $1.30M
NOI $78,133 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 33525, FL
18,620
Population
8,700
Households
2.1
Avg Household Size
48
Median Age
28%
College-Educated
90%
High-School Grad
96.0 sq mi
ZIP Area
194
Density / Sq Mi
$69,697
Median Household Income
$42,178
Median Earnings
$1,045
Median Rent
$228,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with high visibility and flexible space configurations.
Where is this mixed-use property located?
The property is located at 10221 US HIGHWAY 301 Dade City, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: High visibility with direct US Highway 301 frontage and prominent monument signage.; Versatile mixed‑use space including office, retail/showroom, and warehouse areas.; Convenient access with a full‑access median cut for both northbound and southbound traffic.
