Multi-Story Office
For Sale
Under Contract
$275,000
10225 ULMERTON Road, Largo, FL 33771
Commercial Sale, LARGO, FL
Property Size1,525 SF
Lot Size0.59 Acres
Price / SF$180.33
Days on Market88
Property Features for 10225 ULMERTON Road
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
SUGAR CREEK MEDICAL & PROFESSIONAL CENTER
Directions
Enter property from front and proceed to back and make a right.
Standard status
Active Under Contract
APN
03-30-15-86030-012-0020
Size
1,525 SF
Lot size
0.59 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SUGAR CREEK MEDICAL AND PROFESSIONAL CENTER CONDO PHASE 12 UNIT 12-B
Tax Annual Amount
3339
Legal Description
SUGAR CREEK MEDICAL AND PROFESSIONAL CENTER CONDO PHASE 12 UNIT 12-B
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
2
Building materials
Frame
Listing Agency:
ALIGN RIGHT REALTY LLC
(727) 264-6800
Listed By:
Levi Blake · License #3611139
(812) 606-7832
Added: Jun 12
Changed: Aug 24
Last Checked: Sep 7 at 2:06PM
MLS# TB8516088
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 1,525-square-foot office condo offers a multi-story layout within a professional office complex. The interior includes four private offices, a conference room that can be adapted as a fifth office, a reception area, and an efficient workspace arrangement with abundant natural light. Central air supports the office environment, while direct second-floor access adds flexibility to the configuration.
The property is positioned along Ulmerton Road in Largo, with access to US-19 and Seminole Boulevard. Retail, dining, and major business corridors are also identified in the surrounding area. The complex provides ample parking and professional common surroundings. Built in 1985, the unit has a frame construction system and is served by public water and public sewer.
The property is positioned along Ulmerton Road in Largo, with access to US-19 and Seminole Boulevard. Retail, dining, and major business corridors are also identified in the surrounding area. The complex provides ample parking and professional common surroundings. Built in 1985, the unit has a frame construction system and is served by public water and public sewer.
Key Highlights
- 1,525 SF multi‑story office condo
- Four private offices plus a conference room adaptable as a fifth office
- Reception area with efficient workspace flow and abundant natural light
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
$23,678
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
8.61%
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%
$473,560
$473.6K
Cap Rate 7%
$338,257
$338.3K
Cap Rate 9%
$263,089
$263.1K
Market Conditions
NOI Build-Up for 1,525 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
$39.7K $26.04/SF
− Vacancy
−$8.1K −$5.34/SF
EGI
$31.6K $20.70/SF
− OpEx
−$7.9K −$5.18/SF
NOI
$23.7K $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%
$473,560
Cap Rate 7%
$338,257
Cap Rate 9%
$263,089
Alternative Uses
Best Use
Office B
$338.3K
$296.0K – $394.6K
NOI $23,678 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$396.7K
$347.1K – $462.8K
NOI $27,767 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
977
Businesses Nearby
Explore this area
Business Placement
Demographics for 33771, FL
29,766
Population
16,898
Households
1.8
Avg Household Size
54
Median Age
25%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
4,961
Density / Sq Mi
$60,139
Median Household Income
$40,417
Median Earnings
$1,379
Median Rent
$145,600
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.
Frequently Asked Questions
What type of property is this?
Office units - Flexible professional office with private rooms, a conference area, reception space, and natural light.
Where is this office units located?
The property is located at 10225 ULMERTON Road Largo, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,525 SF multi‑story office condo; Four private offices plus a conference room adaptable as a fifth office; Reception area with efficient workspace flow and abundant natural light
