Multifamily Income Property with Road
For Sale
$1,499,900
12597 WALSINGHAM Rd, Largo, FL 33774
Well-maintained multifamily property on a major Largo corridor, suited for owner-users and investors seeking flexible month-to-month tenancy.
Property Size6,696 SF
Days on Market77
Property Features for 12597 WALSINGHAM Rd
General Information
Standard status
Active
Size
6,696 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$9,849
Building Details
Building Size
6,696 SF
Year Built
1985
Stories
2
Listing Agency:
Coastal Properties Group International
(727) 612-8068
Listed By:
Ryan Mitchell · License #3455161
(727) 612-8068
Source:
Elliman
Added: Jun 3
Changed: Aug 11
Last Checked: Aug 18 at 9:13AM
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 Coastal Properties Group International
Investment Insights
Based on property information with market context.
This well maintained multifamily income property is presented as a versatile commercial asset along a well-traveled corridor. The offering includes long tenured tenants operating on a month-to-month basis, which may appeal to owner-users and investors looking for flexibility to occupy space or adjust occupancy over time.
The property is located at 12597 Walsingham Rd., Largo, FL 33774, and is described as having strong frontage on Walsingham Road. The site is positioned amid established residential neighborhoods with nearby retail, dining, and service businesses, supporting day-to-day convenience for visitors and customers driving through the area.
From a tenant and operator standpoint, the combination of maintained condition, road frontage, and month-to-month tenancy can be attractive for those evaluating a multifamily asset in a mature corridor. The property’s visibility and accessibility may support a range of occupancy plans, whether the goal is continued income generation with existing tenants or an owner-user arrangement to occupy part of the building.
The property is located at 12597 Walsingham Rd., Largo, FL 33774, and is described as having strong frontage on Walsingham Road. The site is positioned amid established residential neighborhoods with nearby retail, dining, and service businesses, supporting day-to-day convenience for visitors and customers driving through the area.
From a tenant and operator standpoint, the combination of maintained condition, road frontage, and month-to-month tenancy can be attractive for those evaluating a multifamily asset in a mature corridor. The property’s visibility and accessibility may support a range of occupancy plans, whether the goal is continued income generation with existing tenants or an owner-user arrangement to occupy part of the building.
Key Highlights
- Year built 1985; well‑maintained commercial income‑producing property at 12597 Walsingham Rd., Largo, FL
- Strong road frontage on Walsingham Rd., supporting convenient ingress/egress
- Long‑tenured tenants on month‑to‑month basis for flexibility for an owner‑user or investor
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
$61,584
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
4.11%
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%
$1,231,680
$1.2M
Cap Rate 7%
$879,771
$879.8K
Cap Rate 9%
$684,267
$684.3K
Market Conditions
NOI Build-Up for 6,696 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
$120.5K $18.00/SF
− Vacancy
−$8.6K −$1.28/SF
EGI
$112.0K $16.72/SF
− OpEx
−$50.4K −$7.52/SF
NOI
$61.6K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,231,680
Cap Rate 7%
$879,771
Cap Rate 9%
$684,267
Alternative Uses
Best Use
Apartment 5plus
$879.8K
$769.8K – $1.03M
NOI $61,584 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,918 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
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 Multifamily 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?
Multifamily property - Well-maintained multifamily property on a major Largo corridor, suited for owner-users and investors seeking flexible month-to-month tenancy.
Where is this multifamily property located?
The property is located at 12597 WALSINGHAM Rd Largo, FL.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Year built 1985; well‑maintained commercial income‑producing property at 12597 Walsingham Rd., Largo, FL; Strong road frontage on Walsingham Rd., supporting convenient ingress/egress; Long‑tenured tenants on month‑to‑month basis for flexibility for an owner‑user or investor
