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    400 W Bay Dr Largo, FL 33770

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    For Lease
    Contact for pricing

    New retail space in mixed-use development, Largo City Hall.

    Property size:
    2,074 SF
    Lot size:
    0.28 Acres

    Property Features for 400 W Bay Dr

    General Information

    Size
    2,074 SF
    Lot size
    0.28 Acres

    We can help!

    Listing Contact
    Erica Waltermire
    Erica Waltermire
    Source: Moodyscre

    Listing Agent: Erica Waltermire

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Horizon West Bay Retail Space

    The Horizon West Bay development is an $81 million mixed-use project featuring 18,000 square feet of retail space and a parking garage. Located on the northern 400 block of West Bay Drive, it is situated across from the 277-unit West Bay Lofts project. The ground floor retail space is part of the new Largo City Hall building along the West Bay Drive downtown corridor. Largo City Hall will house 200 employees and 150+ visitors per day. Ample parking is available via an on-site 365-space garage and nearby street parking. On-site electric vehicle charging is provided. The location offers close proximity to St. Pete-Clearwater International Airport, US Highway 19, State Road 60, and North Pinellas beaches. A heavy daytime population base exists, with 99,047 employees within 3 miles. Largo Central Park and the Central Park Performing Arts Center are located just over a half mile east. Various square footages are available, most with outdoor seating. Estimated delivery is expected in the 4th Quarter of 2024.
    Location Intelligence

    Current Use by Public Records

    Bayside Shutters & Blinds Blinds Shop Posh Interiors & Design Window Treatment Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Largo
    County
    Pinellas
    State
    Florida
    Longitude
    -82.782928
    Latitude
    27.916919

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    FAQs

    What type of property is this?
    Retail space - New retail space in mixed-use development, Largo City Hall.
    Where is this retail space located?
    The property is located at 400 W Bay Dr Largo, FL.
    What are key features of this property?
    This property features: - Ground floor retail space in the new Largo City Hall building, offering high visibility and foot traffic.; - Ample parking available via an on-site 365-space garage and nearby street parking.; - High daytime population base with 99,047 employees within a 3-mile radius.
    (813) 221-2290
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    400 W Bay Dr Largo, FL 33770
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    Largo, FL 33770
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    400 W Bay Dr Largo, FL 33770
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    We can help!
    Listing Contact
    Erica Waltermire
    Erica Waltermire
    (813) 221-2290
    Learn more
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