Office Condo
For Sale
$229,000
10333 SEMINOLE BOULEVARD, Largo, FL 33778
Office condo suite with reception, multiple offices, and a small kitchenette in a well-maintained complex.
Property Size1,225 SF
Price / SF$186.94
Days on Market453
Property Features for 10333 SEMINOLE BOULEVARD
General Information
Standard status
Active
Size
1,225 SF
Property subtype
Office
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$1,892
Amenities
mature landscaping
plenty of parking
Central Air
3
Shared Driveway.
City Road, Asphalt, Paved Road.
Building Details
Year Built
1980
Tenancy
Multi
Listing Agency:
CENTURY 21 LISTSMART
(727) 222-1198
Listed By:
Faye Walters · License #3274301
Source:
Xome
Added: May 18, 2025
Changed: Aug 12
Last Checked: Aug 12 at 3:41AM
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 CENTURY 21 LISTSMART
Investment Insights
Based on property information with market context.
This office condo suite is currently configured for professional use and includes a reception and waiting area, 4 to 5 offices, and a small kitchenette. The unit also features an HVAC system and a hot water heater that are within the last 3 to 4 years, and the furniture is noted as negotiable or included.
The property is part of a small condo complex with mature landscaping and plenty of parking. Public remarks indicate easy driving access from across Pinellas, and the HOA fee is described as including exterior maintenance, pest control, and water and garbage service.
The suite is identified as being in Flood Zone X. A possible seller financing option is mentioned with approved terms.
The property is part of a small condo complex with mature landscaping and plenty of parking. Public remarks indicate easy driving access from across Pinellas, and the HOA fee is described as including exterior maintenance, pest control, and water and garbage service.
The suite is identified as being in Flood Zone X. A possible seller financing option is mentioned with approved terms.
Key Highlights
- Condo office suite built in 1980 with central air and a guest facility setup
- Suite layout includes reception/waiting area, 4–5 offices, and a small kitchenette
- HOA includes exterior maintenance, pest control, water, and garbage service
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
$19,020
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
8.31%
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%
$380,400
$380.4K
Cap Rate 7%
$271,714
$271.7K
Cap Rate 9%
$211,333
$211.3K
Market Conditions
NOI Build-Up for 1,225 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
$31.9K $26.04/SF
− Vacancy
−$6.5K −$5.34/SF
EGI
$25.4K $20.70/SF
− OpEx
−$6.3K −$5.18/SF
NOI
$19.0K $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%
$380,400
Cap Rate 7%
$271,714
Cap Rate 9%
$211,333
Alternative Uses
Best Use
Office B
$271.7K
$237.8K – $317.0K
NOI $19,020 @ 7.0% cap · market cap 8.31%
Second Best
Healthcare Medical
$161.4K
$141.2K – $188.3K
NOI $11,298 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$318.6K
$278.8K – $371.7K
NOI $22,304 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,202
Businesses Nearby
Explore this area
Business Placement
Demographics for 33778, FL
15,068
Population
8,130
Households
1.9
Avg Household Size
51
Median Age
26%
College-Educated
92%
High-School Grad
3.8 sq mi
ZIP Area
3,965
Density / Sq Mi
$63,633
Median Household Income
$40,198
Median Earnings
$1,697
Median Rent
$267,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condo suite with reception, multiple offices, and a small kitchenette in a well-maintained complex.
Where is this office units located?
The property is located at 10333 SEMINOLE BOULEVARD Largo, FL.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Condo office suite built in 1980 with central air and a guest facility setup; Suite layout includes reception/waiting area, 4–5 offices, and a small kitchenette; HOA includes exterior maintenance, pest control, water, and garbage service
