Medical Office Building with Road
New
For Sale
$450,000
12596 INDIAN ROCKS Road, Largo, FL 33774
Commercial Sale, LARGO, FL
Property Size2,043 SF
Lot Size0.23 Acres
Price / SF$220.26
Days on Market1
Property Features for 12596 INDIAN ROCKS Road
General Information
Property type
Commercial Sale
Property subtype
Other
Window features
Double Pane Windows
Lot features
City Limits, Oversized Lot, Sidewalk, Street Lights
Directions
From Ulmerton Road, head west and continue as the road becomes Walsingham Road. Turn right onto Indian Rocks Road. The property will be on your right at 12596 Indian Rocks Road, Largo, FL 33774.
Subdivision
33774 - Largo
Special listing conditions
Probate Listing
Standard status
Active
APN
07-30-15-42732-001-0050
Size
2,043 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
INDIAN OAKS GARDENS BLK A, LOT 5
Tax Annual Amount
3274
Legal Description
INDIAN OAKS GARDENS BLK A, LOT 5
Utilities
Utilities
Electricity Available
Sewer type
Septic Needed
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Jonathan Moody · License #3374383
(813) 501-9389
Added: Aug 20
Last Checked: Aug 20 at 11:06PM
MLS# TB8533567
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 2,043-square-foot medical office building sits on a 0.23-acre parcel and has been cleared of its former dental equipment and interior contents. Block and stucco construction, a new shingle roof with replacement trusses, plywood, underlayment, and shingles, plus new air-conditioning ductwork and ceiling drops provide a defined starting point for renovation. The property includes central air, electric heating, public water, and electricity available.
Located at 12596 Indian Rocks Road in Largo, the site fronts a road carrying approximately 12,900 vehicles daily. Front and rear parking areas support client and work-vehicle access. Office-oriented zoning may accommodate medical, dental, chiropractic, counseling, legal, accounting, insurance, real estate, administrative, and other professional services, subject to zoning and governmental approval.
Located at 12596 Indian Rocks Road in Largo, the site fronts a road carrying approximately 12,900 vehicles daily. Front and rear parking areas support client and work-vehicle access. Office-oriented zoning may accommodate medical, dental, chiropractic, counseling, legal, accounting, insurance, real estate, administrative, and other professional services, subject to zoning and governmental approval.
Key Highlights
- 2,043 SF medical office building on a 0.23‑acre parcel
- Approximately 12,900 vehicles pass daily on Indian Rocks Road
- New shingle roof with new trusses, plywood, and underlayment
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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- Animal Hospital of Largo — 13902 Walsingham Rd, Largo, FL 33774
- Hope and Love Veterinary Hospital — 14308 Walsingham Rd, Largo, FL 33774
Frequently Asked Questions
What type of property is this?
Medical Office Space - Cleared block office building with a new roof, updated ductwork, and space for a customized remodel.
Where is this medical office space located?
The property is located at 12596 INDIAN ROCKS Road 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: 2,043 SF medical office building on a 0.23‑acre parcel; Approximately 12,900 vehicles pass daily on Indian Rocks Road; New shingle roof with new trusses, plywood, and underlayment
