Medical Office
For Sale
$229,000
10333 SEMINOLE BOULEVARD, Largo, FL 33778
Configured with multiple offices, reception and waiting areas, plus a kitchenette for professional office use.
Property Size1,225 SF
Price / SF$186.94
Days on Market438
Property Features for 10333 SEMINOLE BOULEVARD
General Information
Standard status
Active
Size
1,225 SF
Property subtype
Office
Additional Details
Furnished
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$1,892
Amenities
mature landscaping
reception/waiting area
kitchenette
Central Air
3
Shared Driveway.
City Road, Asphalt, Paved Road.
Building Details
Year Built
1980
Listing Agency:
CENTURY 21 LISTSMART
(727) 222-1198
Listed By:
Faye Walters · License #3274301
Source:
Xome
Added: May 27, 2025
Changed: Aug 3
Last Checked: Aug 7 at 12:50AM
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 CENTURY 21 LISTSMART
Investment Insights
Based on property information with market context.
This 1,225-square-foot medical office condo was built in 1980 and is currently configured for professional practice use. The suite includes multiple offices, a reception and waiting area, a small kitchenette, and central air. Furniture may be included or negotiated separately. The HVAC system and hot water heater were replaced within the last 3-4 years.
The property is located on Seminole Boulevard in Largo, within a small commercial complex offering available parking, mature landscaping, and a shared driveway. Access is provided by a paved city road, and the property is identified as being in Flood Zone X. Association services include exterior maintenance, pest control, water, and garbage collection.
The property is located on Seminole Boulevard in Largo, within a small commercial complex offering available parking, mature landscaping, and a shared driveway. Access is provided by a paved city road, and the property is identified as being in Flood Zone X. Association services include exterior maintenance, pest control, water, and garbage collection.
Key Highlights
- 1,225 SF medical office condo on Seminole Boulevard
- Multiple offices with reception, waiting area, and kitchenette
- HVAC and hot water heater updated within the last 3‑4 years
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
$19,020
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
8.31%
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%
$380,400
$380.4K
Cap Rate 7%
$271,714
$271.7K
Cap Rate 9%
$211,333
$211.3K
Market Conditions
NOI Build-Up for 1,225 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
$31.9K $26.04/SF
− Vacancy
−$6.5K −$5.34/SF
EGI
$25.4K $20.70/SF
− OpEx
−$6.3K −$5.18/SF
NOI
$19.0K $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%
$380,400
Cap Rate 7%
$271,714
Cap Rate 9%
$211,333
Alternative Uses
Best Use
Office B
$271.7K
$237.8K – $317.0K
NOI $19,020 @ 7.0% cap · market cap 8.31%
Second Best
Healthcare Medical
$161.4K
$141.2K – $188.3K
NOI $11,298 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$318.6K
$278.8K – $371.7K
NOI $22,304 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,202
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33778, FL
15,068
Population
8,130
Households
1.9
Avg Household Size
51
Median Age
26%
College-Educated
92%
High-School Grad
3.8 sq mi
ZIP Area
3,965
Density / Sq Mi
$63,633
Median Household Income
$40,198
Median Earnings
$1,697
Median Rent
$267,800
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 - Configured with multiple offices, reception and waiting areas, plus a kitchenette for professional office use.
Where is this medical office space located?
The property is located at 10333 SEMINOLE BOULEVARD Largo, FL.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 1,225 SF medical office condo on Seminole Boulevard; Multiple offices with reception, waiting area, and kitchenette; HVAC and hot water heater updated within the last 3‑4 years
