Freestanding Restaurant
For Sale
$900,000
11002 Seminole Boulevard, Largo, FL 33778
Standalone commercial building with potential for restaurant, retail, or professional office use.
Property Size3,766 SF
Lot Size0.42 Acres
Price / SF$238.98
Days on Market19
Property Features for 11002 Seminole Boulevard
General Information
Standard status
Active
Size
3,766 SF
Lot size
0.42 Acres
Additional Details
Road Access
Yes
Building Details
Year Built
1958
Buildings
1
Listing Agency:
LPT REALTY, LLC
(813) 210-1998
Listed By:
Holly DiMemmo · License #3490452
Source:
Flflourish
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 25 at 4:36AM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This freestanding commercial property includes a 3,766-square-foot building on approximately 0.42 acres. The asset is identified for restaurant, retail, professional office, and other commercial applications, offering a building-and-site configuration suited to multiple operating formats. Constructed in 1958, it provides an established commercial improvement rather than a vacant land opportunity.
The property is located at 11002 Seminole Boulevard in Largo, Florida, with access to the Seminole Boulevard corridor. The surrounding context includes established neighborhoods, shopping, Gulf beaches, and major thoroughfares. Its Largo location and commercial setting support consideration by an owner-user or investor evaluating restaurant and broader commercial uses.
The property is located at 11002 Seminole Boulevard in Largo, Florida, with access to the Seminole Boulevard corridor. The surrounding context includes established neighborhoods, shopping, Gulf beaches, and major thoroughfares. Its Largo location and commercial setting support consideration by an owner-user or investor evaluating restaurant and broader commercial uses.
Key Highlights
- 3,766‑square‑foot freestanding commercial building
- Approximately 0.42‑acre site
- Built in 1958
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
$41,859
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
4.65%
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%
$837,180
$837.2K
Cap Rate 7%
$597,986
$598.0K
Cap Rate 9%
$465,100
$465.1K
Market Conditions
NOI Build-Up for 3,766 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
$58.7K $15.60/SF
− Vacancy
−$2.9K −$0.78/SF
EGI
$55.8K $14.82/SF
− OpEx
−$14.0K −$3.70/SF
NOI
$41.9K $11.11/SF
Area
Pinellas County, FL
Vacancy
5.00%
Lease Rate
$15.60 /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%
$837,180
Cap Rate 7%
$597,986
Cap Rate 9%
$465,100
Alternative Uses
Best Use
Specialty Retail
$598.0K
$523.2K – $697.7K
NOI $41,859 @ 7.0% cap · market cap 4.65%
Second Best
Retail
$528.2K
$462.2K – $616.2K
NOI $36,973 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$979.6K
$857.1K – $1.14M
NOI $68,570 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
663
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 Retail 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?
Conventional restaurant - Standalone commercial building with potential for restaurant, retail, or professional office use.
Where is this conventional restaurant located?
The property is located at 11002 Seminole Boulevard Largo, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 3,766‑square‑foot freestanding commercial building; Approximately 0.42‑acre site; Built in 1958
