Multi-Building Commercial Compound with CG
For Sale
$1,399,900
11151 66TH Street, Largo, FL 33773
Four-building commercial compound offers flexible occupancy, parking, and storage options on a CG-zoned Largo site.
Property Size7,722 SF
Lot Size0.85 Acres
Price / SF$181.29
Days on Market217
Property Features for 11151 66TH Street
General Information
Standard status
Active
Size
7,722 SF
Lot size
0.85 Acres
Property subtype
Commercial
Zoning
CG
Building Details
Year Built
1953
Buildings
4
Building Size
7,722 SF
Listing Agency:
PROTECH COMMERCIAL REALTY,LLC
Listed By:
Michael Bruni · License #CQ1062672
(813) 995-5544
Source:
Realtygroupfl
Added: Feb 7
Changed: Sep 11
Last Checked: Sep 12 at 9:48AM
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 PROTECH COMMERCIAL REALTY,LLC
Investment Insights
Based on property information with market context.
This four-building commercial compound includes a flexible multi-building layout designed to support owner-user occupancy while creating room for additional income from supplemental structures. Unit 202 and Unit 301 are each available for lease, supporting phased or multi-tenant operations, along with parking and storage capabilities for day-to-day business use.
The property totals 7,722± heated SF on an 0.85± acre site in an established Largo commercial corridor in central Pinellas. Flexible usage is provided through CG zoning.
Built in 1953, the campus-style configuration can be a practical fit for service and contractor-style businesses needing office and yard or storage, as well as smaller medical, therapy, wellness, school, daycare, nonprofit, or training users. It also aligns with redeveloper or repositioning concepts where additional structures can support changing occupancy needs over time.
The property totals 7,722± heated SF on an 0.85± acre site in an established Largo commercial corridor in central Pinellas. Flexible usage is provided through CG zoning.
Built in 1953, the campus-style configuration can be a practical fit for service and contractor-style businesses needing office and yard or storage, as well as smaller medical, therapy, wellness, school, daycare, nonprofit, or training users. It also aligns with redeveloper or repositioning concepts where additional structures can support changing occupancy needs over time.
Key Highlights
- Four buildings totaling 7,722± heated SF
- 0.85± acre commercial compound site
- Unit 202: 1,000 SF available for lease
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
$119,894
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
8.56%
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%
$2,397,880
$2.4M
Cap Rate 7%
$1,712,771
$1.7M
Cap Rate 9%
$1,332,156
$1.3M
Market Conditions
NOI Build-Up for 7,722 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
$201.1K $26.04/SF
− Vacancy
−$41.2K −$5.34/SF
EGI
$159.9K $20.70/SF
− OpEx
−$40.0K −$5.18/SF
NOI
$119.9K $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%
$2,397,880
Cap Rate 7%
$1,712,771
Cap Rate 9%
$1,332,156
Alternative Uses
Best Use
Office B
$1.71M
$1.50M – $2.00M
NOI $119,894 @ 7.0% cap · market cap 8.56%
Second Best
Healthcare Medical
$1.02M
$890.3K – $1.19M
NOI $71,222 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,599 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33773, FL
17,494
Population
8,353
Households
2.1
Avg Household Size
48
Median Age
31%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
3,430
Density / Sq Mi
$74,115
Median Household Income
$46,759
Median Earnings
$1,567
Median Rent
$280,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Burke Integrative Health & Wellness, LLC — 11380 66th St N Suite 139, Largo, FL 33773
- Heart Wisdom Acupuncture and Oriental Medicine — 12360 66th St N, Largo, FL 33773
- AcuVeterans, Inc. — 12360 66th St N W, Largo, FL 33773
- David Chambers — 12360 66th St N W, Largo, FL 33773
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Four-building commercial compound offers flexible occupancy, parking, and storage options on a CG-zoned Largo site.
Where is this spa & wellness property located?
The property is located at 11151 66TH Street Largo, FL.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: Four buildings totaling 7,722± heated SF; 0.85± acre commercial compound site; Unit 202: 1,000 SF available for lease
