Crown Point Office
For Sale
$740,000
13191 STARKEY ROAD #15 & 16, Largo, FL 33773
Two contiguous office condos in well-maintained Largo professional center.
Property Size3,550 SF
Lot Size4.48 Acres
Price / SF$208.45
Days on Market1803
Property Features for 13191 STARKEY ROAD #15 & 16
General Information
Standard status
Active
Size
3,550 SF
Lot size
4.48 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,274
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Building Details
Year Built
1988
Listing Agency:
BAY STREET COMMERCIAL LLC
(813) 254-6756
Listed By:
MICHAEL BRACCIA, PA · License #3033512
(813) 254-2110
Source:
Corcoran
Added: Sep 27, 2021
Changed: Sep 2
Last Checked: Sep 1 at 8:19PM
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 BAY STREET COMMERCIAL LLC
Investment Insights
Based on property information with market context.
Two adjacent office condominiums are available in Crown Point Center, a professional office center located on Starkey Road near Ulmerton Road. The corner unit totals 3,550 square feet, with Unit 15 comprising 2,080 square feet and Unit 16 comprising 1,470 square feet. Accessible from both sides of the building and from two separate parking lots, the space features a reception area, an open floor workspace surrounded by windows, three private offices, a dedicated filing/storage area, a large open production/bullpen area, restrooms, and a private break-room. The professional center has multiple medical and professional office users and an abundance of parking. The association dues are $1,500 per month for the two units, which includes roof, exterior, common area, water, sewer, garbage, and exterior insurance. The property is located behind Starbucks on the corner of Starkey Road and 133rd Avenue, one block south of Ulmerton Road, west of the US-19 intersection, and minutes from I-275, providing access to Tampa Bay area markets.
Key Highlights
- Prime location: Starkey Road near Ulmerton, close to US‑19 and I‑275, providing easy access to Tampa Bay area.
- Large 3,550 SF corner unit** with entrances from both sides of the building and two parking lots.
- Functional layout: Includes reception area, open workspace, private offices, filing/storage, production area, restrooms, and break‑room.
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
$55,119
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
7.45%
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%
$1,102,380
$1.1M
Cap Rate 7%
$787,414
$787.4K
Cap Rate 9%
$612,433
$612.4K
Market Conditions
NOI Build-Up for 3,550 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
$92.4K $26.04/SF
− Vacancy
−$19.0K −$5.34/SF
EGI
$73.5K $20.70/SF
− OpEx
−$18.4K −$5.18/SF
NOI
$55.1K $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%
$1,102,380
Cap Rate 7%
$787,414
Cap Rate 9%
$612,433
Alternative Uses
Best Use
Office B
$787.4K
$689.0K – $918.7K
NOI $55,119 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$923.4K
$808.0K – $1.08M
NOI $64,637 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
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
Market
Vacancy Rate% for Office 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?
Office units - Two contiguous office condos in well-maintained Largo professional center.
Where is this office units located?
The property is located at 13191 STARKEY ROAD #15 & 16 Largo, FL.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Prime location: Starkey Road near Ulmerton, close to US‑19 and I‑275, providing easy access to Tampa Bay area.; Large 3,550 SF corner unit** with entrances from both sides of the building and two parking lots.; Functional layout: Includes reception area, open workspace, private offices, filing/storage, production area, restrooms, and break‑room.
