Office Building with Solar
New
For Sale
$1,300,000
32707 US HIGHWAY 19 N, Palm Harbor, FL 34684
C-1 office property with private rooms, collaborative workspace, and retained furnishings.
Property Size3,599 SF
Lot Size0.74 Acres
Price / SF$361.21
Days on Market5
Property Features for 32707 US HIGHWAY 19 N
General Information
Standard status
Active
Size
3,599 SF
Total Parking Spaces
20
Lot size
0.74 Acres
Property subtype
Commercial
Zoning
C-1
Site & Location
Highway Access
Yes
Public Transit
No
Additional Details
Furnished
Yes
Asking Price
$1,300,000
Taxes and HOA fees
Annual Taxes
$17,805
Amenities
eight private offices
three restrooms
large breakroom
elegant reception area
private conference room
central workspace with conference and cubicle areas
metal roof
owner-owned solar power system
built-in reception counters
desks
cabinetry
partitions
office furnishings
Building Details
Building Size
3,599 SF
Year Built
1999
Stories
1
Listing Agency:
(727) 846-3640
Listed By:
Tony Muniz
(727) 846-3640
Source:
Elliman
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 6 at 5:47AM
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 Tony Muniz
Investment Insights
Based on property information with market context.
This 3,599-square-foot office building sits on 0.74 acres and was built in 1999. The layout includes eight private offices, three restrooms, a reception area, conference room, large breakroom, and an approximately 1,100-square-foot central workspace with conference and cubicle areas. Built-in reception counters, desks, cabinetry, partitions, and office furnishings remain with the property. A metal roof and owner-owned solar power system are also included.
The property fronts U.S. Highway 19 directly north of Tampa Road, with approximately 93,000 vehicles avg each day and access to major thoroughfares. Approximately 20 parking spaces serve the building. Zoned C-1 and currently occupied by an architectural and engineering firm, the property accommodates a range of professional office applications, including medical, legal, accounting, insurance, title, engineering, architectural, and property management uses. The site is located in FEMA Flood Zone X.
The property fronts U.S. Highway 19 directly north of Tampa Road, with approximately 93,000 vehicles avg each day and access to major thoroughfares. Approximately 20 parking spaces serve the building. Zoned C-1 and currently occupied by an architectural and engineering firm, the property accommodates a range of professional office applications, including medical, legal, accounting, insurance, title, engineering, architectural, and property management uses. The site is located in FEMA Flood Zone X.
Key Highlights
- 3,599‑square‑foot office building on 0.74 acres
- Eight private offices, three restrooms, breakroom, reception area, and conference room
- Approximately 1,100‑square‑foot central workspace with conference and cubicle areas
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
$55,879
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
4.30%
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%
$1,117,580
$1.1M
Cap Rate 7%
$798,271
$798.3K
Cap Rate 9%
$620,878
$620.9K
Market Conditions
NOI Build-Up for 3,599 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
$93.7K $26.04/SF
− Vacancy
−$19.2K −$5.34/SF
EGI
$74.5K $20.70/SF
− OpEx
−$18.6K −$5.18/SF
NOI
$55.9K $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%
$1,117,580
Cap Rate 7%
$798,271
Cap Rate 9%
$620,878
Alternative Uses
Best Use
Office B
$798.3K
$698.5K – $931.3K
NOI $55,879 @ 7.0% cap · market cap 4.30%
Second Best
Healthcare Medical
$474.2K
$414.9K – $553.2K
NOI $33,194 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$936.1K
$819.1K – $1.09M
NOI $65,529 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Explore this area
Business Placement
Demographics for 34684, FL
27,078
Population
14,308
Households
1.9
Avg Household Size
54
Median Age
35%
College-Educated
95%
High-School Grad
6.7 sq mi
ZIP Area
4,041
Density / Sq Mi
$67,542
Median Household Income
$47,427
Median Earnings
$1,781
Median Rent
$293,800
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 building - C-1 office property with private rooms, collaborative workspace, and retained furnishings.
Where is this office building located?
The property is located at 32707 US HIGHWAY 19 N Palm Harbor, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3,599‑square‑foot office building on 0.74 acres; Eight private offices, three restrooms, breakroom, reception area, and conference room; Approximately 1,100‑square‑foot central workspace with conference and cubicle areas
