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    Flex Warehouse with Mezzanine Storage Title is generated by Realmo AI

    490 SMITH St, Brooksville, FL 34601

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    For Lease
    $54,000

    Versatile flex building with high-clearance warehouse space, roll-up access, and mezzanine storage plus office build-out underway.

    Type:Industrial
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 2:05 am

    Property Features for 490 SMITH St

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Building Details

    Year Built
    1983

    We can help!

    Listing Contact
    Thomas Dishman
    Thomas Dishman

    Listing agent Thomas Dishman License #3564834

    Listing office Coldwell Banker Weaver Group Realty

    Listing date Jun 3, 2026

    Source Elliman

    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 Coldwell Banker Weaver Group Realty

    HighLights

    • 1983‑built commercial flex building at 490 Smith Street with warehouse, office, showroom, storage, and light industrial space
    • Open warehouse space with high‑clearance ceilings and a large mezzanine/storage loft
    • Roll‑up door access for warehouse operations and dedicated on‑site parking
    • Substantial office build‑out already in progress, with additional build‑out options subject to landlord approval and associated costs
    • One bathroom currently in place; more build‑out options available depending on tenant customization needs
    • Minimum lease term is 12 months; tenant improvements and build‑out options available with associated costs

    Overview

    This flex-space property combines warehouse, office, showroom, and storage areas in a single facility, with high-clearance ceilings and roll-up door access. The interior layout includes expansive open warehouse space and a large mezzanine/storage loft for additional storage or light-use staging. A substantial office build-out is currently in progress, and one bathroom is in place. The exterior has been modernized, supporting a professional presentation for customers and job sites alike.

    The building is situated at a prominent corner location at 490 Smith Street in Brooksville and includes dedicated on-site parking. Access is supported through the roll-up doors for operational convenience, while the floorplan’s mixed warehouse and office components make it practical for both in-and-out logistics and client-facing functions.

    The configuration can fit a range of contractors and service-oriented businesses that need warehouse capability alongside office space, including companies supporting construction, roofing, HVAC, electrical, distribution, light manufacturing, and storage operations. Landlord approval is required for additional customization and tenant improvements beyond what is already in progress, with associated costs. The minimum lease term is 12 months, and lease terms and permitted uses should be confirmed with the listing agent to align the space with the tenant’s specific operating needs.
    Location Intelligence

    Current Use by Public Records

    Tactical Supply & Surplus (Bike/Boat/Book/etc) Store U-Haul Neighborhood Dealer Car Rental Facility

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Florida Cracker Catering & Events — 390 Cleveland Ave, Brooksville, FL 34601

    Location Insight

    • Map
    • Local Demand
    City
    Brooksville
    County
    Pasco
    State
    Florida
    Longitude
    -82.3816329
    Latitude
    28.548633

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    FAQs

    What type of property is this?
    Flex space - Versatile flex building with high-clearance warehouse space, roll-up access, and mezzanine storage plus office build-out underway.
    Where is this flex space located?
    The property is located at 490 SMITH St Brooksville, FL.
    What is the lease rate?
    The lease rate is $54,000.
    What are key features of this property?
    This property features: 1983‑built commercial flex building at 490 Smith Street with warehouse, office, showroom, storage, and light industrial space; Open warehouse space with high‑clearance ceilings and a large mezzanine/storage loft; Roll‑up door access for warehouse operations and dedicated on‑site parking
    (419) 651-2084
    We can help!
    Listing Contact
    Thomas Dishman
    Thomas Dishman
    Real Estate License ID: 3564834
    Learn More
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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.

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