C-2 Office Building with
For Sale
$1,499,900
12597 WALSINGHAM Road, Largo, FL 33774
Commercial Sale, LARGO, FL
Property Size6,696 SF
Lot Size0.39 Acres
Price / SF$223
Days on Market95
Property Features for 12597 WALSINGHAM Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-2
Subdivision
WALTHERS SUB
Directions
South bound on US 19 , West on Ulmerton Rd. , Left on Walsingham Rd on left side. North bound on US 19 West on Ulmerton Rd. , Left on Walsingham Rd on left side.
Standard status
Active
APN
08-30-15-94806-000-0060
Size
6,696 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WALTHER'S SUB LOT 6 & 7
Tax Annual Amount
9849
Legal Description
WALTHER'S SUB LOT 6 & 7
Utilities
Cooling system
Central Air
Building Details
Year built
1985
Floors in Building
2
Building materials
Concrete
Listing Agency:
COASTAL PROPERTIES GROUP INTERNATIONAL
(727) 493-1555
Listed By:
Ryan Mitchell · License #3455161
(727) 612-8068
Added: May 27
Changed: Aug 25
Last Checked: Aug 29 at 8:06AM
MLS# TB8502168
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.
The property is a 6,696-square-foot office building on 0.39 acres, constructed in 1985 with concrete materials and central air conditioning. C-2 zoning supports its commercial office classification. Existing tenants occupy the property on month-to-month arrangements, providing flexibility for continued occupancy or future owner use.
Located at 12597 Walsingham Road in Largo, the building has frontage along Walsingham Road with ingress and egress from the corridor. The surrounding area includes established residential neighborhoods along with retail, dining, and service businesses. The property is within Pinellas County and offers access to Clearwater, Seminole, St. Petersburg, and the Gulf beaches.
Located at 12597 Walsingham Road in Largo, the building has frontage along Walsingham Road with ingress and egress from the corridor. The surrounding area includes established residential neighborhoods along with retail, dining, and service businesses. The property is within Pinellas County and offers access to Clearwater, Seminole, St. Petersburg, and the Gulf beaches.
Key Highlights
- 6,696‑square‑foot office building on 0.39 acres
- C‑2 zoning for commercial office use
- Month‑to‑month tenant arrangements
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
$103,964
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
6.93%
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%
$2,079,280
$2.1M
Cap Rate 7%
$1,485,200
$1.5M
Cap Rate 9%
$1,155,156
$1.2M
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
$174.4K $26.04/SF
− Vacancy
−$35.7K −$5.34/SF
EGI
$138.6K $20.70/SF
− OpEx
−$34.7K −$5.18/SF
NOI
$104.0K $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%
$2,079,280
Cap Rate 7%
$1,485,200
Cap Rate 9%
$1,155,156
Alternative Uses
Best Use
Office B
$1.49M
$1.30M – $1.73M
NOI $103,964 @ 7.0% cap · market cap 6.93%
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
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
409
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 Office 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?
Office building - Concrete construction, central air, and month-to-month tenancy offer operational flexibility for an owner-user or investor.
Where is this office building located?
The property is located at 12597 WALSINGHAM Road 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: 6,696‑square‑foot office building on 0.39 acres; C‑2 zoning for commercial office use; Month‑to‑month tenant arrangements
