Corner Office Condominium
13191 Starkey Road Unit 15 & 16, Largo, FL 33773
For Sale
$740,000
Two contiguous office condominiums totaling 3,550 SF with corner access from two sides and two separate parking lots.
Property Size3,550 SF
Price / SF$208.45
Days on Market1890
Property Features for 13191 Starkey Road Unit 15 & 16
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Tenancy
Listing Agency:
BAY STREET COMMERCIAL LLC
Listed By:
Michael Braccia,PA · License FL SL3033512
(813) 254-6756
Source:
Realtygroupfl
Added: Sep 8, 2021
Changed: Nov 8
Last Checked: Nov 10 at 7:31AM
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
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Investment Insights
Based on property information with market context.
Two adjacent, contiguous office condominiums are available in Crown Point Center. The combined space totals 3,550 SF and is set up as a corner unit accessible from both sides of the building and from two separate parking lots.
Internally, the layout includes a wide-open, light-filled reception area and an open floor workspace for cubicles with surrounding windows. There are three private offices, a dedicated filing/storage area, a large open production or bullpen area, additional restrooms, and a private break-room.
Crown Point Center is described as a well maintained, easily accessible professional office center with multiple medical and professional office users and abundant parking. Association dues are $1,500 per month for the two units and include roof, exterior, common areas, water, sewer, garbage, and exterior insurance.
Internally, the layout includes a wide-open, light-filled reception area and an open floor workspace for cubicles with surrounding windows. There are three private offices, a dedicated filing/storage area, a large open production or bullpen area, additional restrooms, and a private break-room.
Crown Point Center is described as a well maintained, easily accessible professional office center with multiple medical and professional office users and abundant parking. Association dues are $1,500 per month for the two units and include roof, exterior, common areas, water, sewer, garbage, and exterior insurance.
Key Highlights
- Two contiguous office condominiums in Crown Point Center totaling 3,550 SF (Unit 15: 2,080 SF; Unit 16: 1,470 SF).
- Corner unit access from both sides of the building and from two separate parking lots.
- Reception area plus open floor workspace for cubicles surrounded by windows.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,119
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
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
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 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
Healthcare Medical
$761.5K
$666.3K – $888.4K
NOI $53,302 @ 7.0% cap · market cap 7.20%
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.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
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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
$280,600
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Largo, FL
Properties on Market for Office Units in Largo
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Two contiguous office condominiums totaling 3,550 SF with corner access from two sides and two separate parking lots.
Where is this office unit 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 contiguous office condominiums in Crown Point Center totaling 3,550 SF (Unit 15: 2,080 SF; Unit 16: 1,470 SF).; Corner unit access from both sides of the building and from two separate parking lots.; Reception area plus open floor workspace for cubicles surrounded by windows.
