Corner Office Condominium
For Sale
$740,000
13191 Starkey Road Unit 15 & 16, Largo, FL 33773
Bright professional workspace with private offices, open work areas, storage, restrooms, and a break room.
Property Size3,550 SF
Price / SF$208.45
Days on Market1794
Property Features for 13191 Starkey Road Unit 15 & 16
General Information
Standard status
Active
Size
3,550 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
HOA Fee
$1,500
Office Units
2
Building Details
Year Built
1988
Listing Agency:
BAY STREET COMMERCIAL LLC
(813) 254-2110
Listed By:
Michael Braccia,PA · License #3033512
Source:
Realtygroupfl
Added: Sep 11, 2021
Changed: Aug 8
Last Checked: Aug 8 at 3:43PM
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 BAY STREET COMMERCIAL LLC
Investment Insights
Based on property information with market context.
Two adjacent, contiguous office condominiums in Crown Point Center total 3,550 SF, with Unit 15 containing 2,080 SF and Unit 16 containing 1,470 SF. The corner configuration is accessible from both sides of the building and from two separate parking lots. Interior features include a wide-open reception area, window-lined workspace for cubicles, three private offices, a dedicated filing and storage area, a large open production or bullpen area, additional restrooms, and a private break room. The professional office center was built in 1988 and includes multiple medical and professional office users.
The property is located on Starkey Road near its intersection with Ulmerton, behind Starbucks at Starkey Road and 133rd Avenue. It is one block south of Ulmerton Road, west of the US-19 intersection, and minutes from I-275, providing access across the Tampa Bay area. Abundant parking is available at the center.
The property is located on Starkey Road near its intersection with Ulmerton, behind Starbucks at Starkey Road and 133rd Avenue. It is one block south of Ulmerton Road, west of the US-19 intersection, and minutes from I-275, providing access across the Tampa Bay area. Abundant parking is available at the center.
Key Highlights
- Two adjacent office condominiums totaling 3,550 SF
- Unit 15 contains 2,080 SF; Unit 16 contains 1,470 SF
- Corner configuration with access from both sides of the building
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
$55,119
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
7.45%
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%
$1,102,380
$1.1M
Cap Rate 7%
$787,414
$787.4K
Cap Rate 9%
$612,433
$612.4K
Market Conditions
NOI Build-Up for 3,550 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
$92.4K $26.04/SF
− Vacancy
−$19.0K −$5.34/SF
EGI
$73.5K $20.70/SF
− OpEx
−$18.4K −$5.18/SF
NOI
$55.1K $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%
$1,102,380
Cap Rate 7%
$787,414
Cap Rate 9%
$612,433
Alternative Uses
Best Use
Office B
$787.4K
$689.0K – $918.7K
NOI $55,119 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$923.4K
$808.0K – $1.08M
NOI $64,637 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 33773, FL
17,494
Population
8,353
Households
2.1
Avg Household Size
48
Median Age
31%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
3,430
Density / Sq Mi
$74,115
Median Household Income
$46,759
Median Earnings
$1,567
Median Rent
$280,600
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 - Bright professional workspace with private offices, open work areas, storage, restrooms, and a break room.
Where is this office units located?
The property is located at 13191 Starkey Road Unit 15 & 16 Largo, FL.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Two adjacent office condominiums totaling 3,550 SF; Unit 15 contains 2,080 SF; Unit 16 contains 1,470 SF; Corner configuration with access from both sides of the building
