Fenced Flex Space with
For Sale
$1,495,000
12433 66TH Street, Largo, FL 33773
Commercial Sale, LARGO, FL
Property Size2,940 SF
Lot Size0.67 Acres
Price / SF$508.50
Days on Market51
Property Features for 12433 66TH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-3
Subdivision
POTTERFIELD MINIATURE FARMS
Directions
Head west on Ulmerton Rd - Head south on 66th Street - South on 66th Street to address
Standard status
Active
APN
08-30-16-72702-002-0020
Size
2,940 SF
Lot size
0.67 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
POTTERFIELD MINIATURE FARMS BLK B, LOT 2
Tax Annual Amount
9021
Legal Description
POTTERFIELD MINIATURE FARMS BLK B, LOT 2
Utilities
Cooling system
Central Air
Building Details
Year built
1983
Floors in Building
1
Building materials
Block, Concrete, Metal Frame, Metal Siding
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
(727) 282-1788
Listed By:
Patrick Calhoon · License #259869
(727) 282-1788
Added: Jul 6
Changed: Aug 24
Last Checked: Aug 25 at 6:06PM
MLS# TB8526408
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property includes a 1,680-square-foot warehouse with three overhead doors and a separate 1,160-square-foot block office or showroom. The improvements use block, concrete, metal frame, and metal siding construction, with central air serving the property. Built in 1983, the site is enclosed by fencing and accessed through an electronic security gate.
The 0.67-acre parcel fronts 66th Street, just south of Ulmerton Road, and includes a large pole sign. C-3 zoning and the existing configuration support the retail, wholesale, distribution, light manufacturing, service business, and automotive repair uses identified for the property.
The 0.67-acre parcel fronts 66th Street, just south of Ulmerton Road, and includes a large pole sign. C-3 zoning and the existing configuration support the retail, wholesale, distribution, light manufacturing, service business, and automotive repair uses identified for the property.
Key Highlights
- 0.67‑acre fenced site on 66th Street, just south of Ulmerton Road
- 1,680‑square‑foot warehouse with 3 overhead doors
- 1,160‑square‑foot block office or showroom
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
$45,647
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
3.05%
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%
$912,940
$912.9K
Cap Rate 7%
$652,100
$652.1K
Cap Rate 9%
$507,189
$507.2K
Market Conditions
NOI Build-Up for 2,940 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
$76.6K $26.04/SF
− Vacancy
−$15.7K −$5.34/SF
EGI
$60.9K $20.70/SF
− OpEx
−$15.2K −$5.18/SF
NOI
$45.6K $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%
$912,940
Cap Rate 7%
$652,100
Cap Rate 9%
$507,189
Alternative Uses
Best Use
Office B
$652.1K
$570.6K – $760.8K
NOI $45,647 @ 7.0% cap · market cap 3.05%
Second Best
Flex RnD
$380.0K
$332.5K – $443.3K
NOI $26,599 @ 7.0% cap · market cap 1.78%
Theoretical Best
Office A
$764.7K
$669.1K – $892.2K
NOI $53,530 @ 7.0% cap · market cap 3.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,187
Businesses Nearby
Under-served
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - C-3 property combines secured outdoor area with warehouse, office, showroom, and service-oriented commercial functionality.
Where is this flex space located?
The property is located at 12433 66TH Street Largo, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 0.67‑acre fenced site on 66th Street, just south of Ulmerton Road; 1,680‑square‑foot warehouse with 3 overhead doors; 1,160‑square‑foot block office or showroom
