Medical Office Building with New
New
For Sale
$450,000
12596 INDIAN ROCKS, Largo, FL 33774
Block construction, updated building systems, and front and rear parking create a flexible professional office setting.
Property Size2,043 SF
Days on Market2
Property Features for 12596 INDIAN ROCKS
General Information
Standard status
Active
Size
2,043 SF
Property subtype
Commercial
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$3,274
Building Details
Building Size
2,043 SF
Year Built
1954
Construction
block
Listing Agency:
eXp Realty LLC
(813) 501-9389
Listed By:
Jonathan Moody · License #3374383
(813) 501-9389
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 2:48AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This block-constructed medical office building provides a cleared interior for a future owner’s remodel. Former dental equipment and interior contents have been removed. Major improvements include a new roof system with trusses, plywood, underlayment, and shingles, as well as new air-conditioning ductwork and ceiling drops. Front and rear parking areas serve clients, employees, or work vehicles.
The property is located at 12596 Indian Rocks in Largo, Florida, directly on Indian Rocks Road. Approximately 12,900 vehicles pass the property daily. The office-oriented zoning may accommodate professional and medical uses such as dental, medical, chiropractic, counseling, legal, accounting, insurance, real estate, and administrative services, subject to zoning and governmental approval. Walk Score is 53, Bike Score is 59, and Transit Score is 27.
The property is located at 12596 Indian Rocks in Largo, Florida, directly on Indian Rocks Road. Approximately 12,900 vehicles pass the property daily. The office-oriented zoning may accommodate professional and medical uses such as dental, medical, chiropractic, counseling, legal, accounting, insurance, real estate, and administrative services, subject to zoning and governmental approval. Walk Score is 53, Bike Score is 59, and Transit Score is 27.
Key Highlights
- Approximately 12,900 vehicles pass the property daily on Indian Rocks Road
- Block‑constructed medical office building built in 1954
- New roof with trusses, plywood, underlayment, and shingles
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
$31,720
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
7.05%
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%
$634,400
$634.4K
Cap Rate 7%
$453,143
$453.1K
Cap Rate 9%
$352,444
$352.4K
Market Conditions
NOI Build-Up for 2,043 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
$53.2K $26.04/SF
− Vacancy
−$10.9K −$5.34/SF
EGI
$42.3K $20.70/SF
− OpEx
−$10.6K −$5.18/SF
NOI
$31.7K $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%
$634,400
Cap Rate 7%
$453,143
Cap Rate 9%
$352,444
Alternative Uses
Best Use
Office B
$453.1K
$396.5K – $528.7K
NOI $31,720 @ 7.0% cap · market cap 7.05%
Second Best
Healthcare Medical
$269.2K
$235.5K – $314.1K
NOI $18,843 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$531.4K
$465.0K – $620.0K
NOI $37,198 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33774, FL
18,145
Population
10,388
Households
1.7
Avg Household Size
51
Median Age
28%
College-Educated
93%
High-School Grad
4.6 sq mi
ZIP Area
3,945
Density / Sq Mi
$76,769
Median Household Income
$41,936
Median Earnings
$1,498
Median Rent
$315,200
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?
Medical Office Space - Block construction, updated building systems, and front and rear parking create a flexible professional office setting.
Where is this medical office space located?
The property is located at 12596 INDIAN ROCKS Largo, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Approximately 12,900 vehicles pass the property daily on Indian Rocks Road; Block‑constructed medical office building built in 1954; New roof with trusses, plywood, underlayment, and shingles
