Professional Office Condo
For Sale
$230,000
10825 Seminole Boulevard, Largo, FL 33778
Office condo features three private offices, two bathrooms, and two reception areas within a maintained office complex.
Property Size1,125 SF
Price / SF$204.44
Days on Market51
Property Features for 10825 Seminole Boulevard
General Information
Standard status
Active
Size
1,125 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$2,606
Amenities
Central Air
3
Building Details
Year Built
1983
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Rob Demarest · License #3368911
Source:
Xome
Added: Jun 24
Changed: Aug 12
Last Checked: Aug 12 at 4:29AM
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 DALTON WADE INC
Investment Insights
Based on property information with market context.
This professional office condo suite in The Clusters is available for sale and offers a functional layout for client-facing operations. The unit includes three private offices, two bathrooms, and two separate reception areas, supporting either consolidated or distinct work and waiting spaces.
Located at 10825 Seminole Boulevard in Largo within an office complex described as well maintained, the suite is positioned for visibility and easy access along one of the area’s busiest corridors. The property is described as having ample parking and strong frontage.
For businesses seeking a flexible office configuration within a central Pinellas County location, this suite provides the room for multiple departments or a setup that combines administrative space with separate client reception areas.
Located at 10825 Seminole Boulevard in Largo within an office complex described as well maintained, the suite is positioned for visibility and easy access along one of the area’s busiest corridors. The property is described as having ample parking and strong frontage.
For businesses seeking a flexible office configuration within a central Pinellas County location, this suite provides the room for multiple departments or a setup that combines administrative space with separate client reception areas.
Key Highlights
- Office condo in The Clusters (Largo) built in 1983 within a maintained office complex
- Layout includes 3 private offices and 2 separate reception areas for flexible client and workspace setup
- Two bathrooms included within the unit
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
$17,467
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
7.59%
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%
$349,340
$349.3K
Cap Rate 7%
$249,529
$249.5K
Cap Rate 9%
$194,078
$194.1K
Market Conditions
NOI Build-Up for 1,125 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
$29.3K $26.04/SF
− Vacancy
−$6.0K −$5.34/SF
EGI
$23.3K $20.70/SF
− OpEx
−$5.8K −$5.18/SF
NOI
$17.5K $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%
$349,340
Cap Rate 7%
$249,529
Cap Rate 9%
$194,078
Alternative Uses
Best Use
Office B
$249.5K
$218.3K – $291.1K
NOI $17,467 @ 7.0% cap · market cap 7.59%
Second Best
Healthcare Medical
$148.2K
$129.7K – $172.9K
NOI $10,376 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$292.6K
$256.0K – $341.4K
NOI $20,483 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,202
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office units - Office condo features three private offices, two bathrooms, and two reception areas within a maintained office complex.
Where is this office units located?
The property is located at 10825 Seminole Boulevard Largo, FL.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Office condo in The Clusters (Largo) built in 1983 within a maintained office complex; Layout includes 3 private offices and 2 separate reception areas for flexible client and workspace setup; Two bathrooms included within the unit
