Office Condo with Private
For Sale
$230,000
10825 SEMINOLE BOULEVARD, Largo, FL 33778
Flexible office condo with private workrooms, dual reception areas, restrooms, and central air in an established Largo office complex.
Property Size1,125 SF
Price / SF$204.44
Days on Market69
Property Features for 10825 SEMINOLE BOULEVARD
General Information
Standard status
Active
Size
1,125 SF
Property subtype
Office
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$2,606
Amenities
Central Air
3
Asphalt.
Building Details
Year Built
1983
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Rob Demarest · License #3368911
Source:
Xome
Added: Jun 22
Changed: Aug 28
Last Checked: Aug 29 at 7:16AM
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 office condo contains 1,125 square feet with a practical layout that includes 3 private offices, 2 bathrooms, and 2 separate reception areas. Central air supports the interior, while the configuration can accommodate distinct departments, shared office arrangements, or a dedicated administrative and client-facing setup. The property was built in 1983.
Located at 10825 Seminole Boulevard in Largo, the unit sits within The Clusters office complex and offers access along Seminole Boulevard. The property includes asphalt parking and is positioned for convenient travel between Largo, Seminole, the beaches, and surrounding Pinellas County markets.
Located at 10825 Seminole Boulevard in Largo, the unit sits within The Clusters office complex and offers access along Seminole Boulevard. The property includes asphalt parking and is positioned for convenient travel between Largo, Seminole, the beaches, and surrounding Pinellas County markets.
Key Highlights
- 1,125‑square‑foot office condo at 10825 Seminole Boulevard, Largo, FL 33778
- Layout includes 3 private offices, 2 bathrooms, and 2 separate reception areas
- Central Air
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
—
—
no second resolved use
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
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
651
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 - Flexible office condo with private workrooms, dual reception areas, restrooms, and central air in an established Largo 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: 1,125‑square‑foot office condo at 10825 Seminole Boulevard, Largo, FL 33778; Layout includes 3 private offices, 2 bathrooms, and 2 separate reception areas; Central Air
