Fenced Mixed-Use
For Sale
$1,225,000
16299 Cortez Boulevard, Brooksville, FL 34601
C-2-zoned property combines office, warehouse, and land components within a flexible mixed-use setting.
Property Size6,993 SF
Lot Size2.75 Acres
Price / SF$375.88
Days on Market542
Property Features for 16299 Cortez Boulevard
General Information
Standard status
Active
Size
6,993 SF
Lot size
2.75 Acres
Property subtype
Commercial Sale / Mixed Use
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Warehouse Space
6,993 SF
Taxes and HOA fees
Annual Taxes
$8,080
Amenities
A/C - Office Only, Central Air
12
No
12'
10 to 15 Feet
Square Feet
Public Records
Shingle
Multi/Split
Garage(s), Maintenance, Storage, Workshop
Block
Yes
Block, Concrete
Building Details
Year Built
1989
Buildings
2
Stories
2
Building Size
6,993 SF
Construction
block
Listing Agency:
THE OUTLIER GROUP
(813) 530-9464
Listed By:
Mac Autrey · License #3190951
(813) 530-9464
Source:
Compass
Added: Mar 7, 2025
Changed: Aug 30
Last Checked: Aug 31 at 12:48AM
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 THE OUTLIER GROUP
Investment Insights
Based on property information with market context.
This mixed-use property includes a two-unit office/residential building and a separate two-story warehouse constructed with solid block materials. The warehouse contains office improvements and a 12-foot bay door, while the buildings feature updated roofing and a newer HVAC system. The property was built in 1989.
The site encompasses 2.75 acres and is fully fenced, with direct frontage on Highway 50 and access approximately 1.5 miles from the Suncoast Parkway (SR 589). A designated 70-by-70-foot area for a cell tower is also included. C-2 zoning supports commercial and residential applications, with the property information also describing industrial and mixed-use possibilities.
The site encompasses 2.75 acres and is fully fenced, with direct frontage on Highway 50 and access approximately 1.5 miles from the Suncoast Parkway (SR 589). A designated 70-by-70-foot area for a cell tower is also included. C-2 zoning supports commercial and residential applications, with the property information also describing industrial and mixed-use possibilities.
Key Highlights
- 2.75 fully fenced acres with direct Highway 50 frontage
- C‑2 zoning supports commercial and residential uses
- Two‑story, solid‑block warehouse with built‑out office area
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
$40,477
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
3.30%
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%
$809,540
$809.5K
Cap Rate 7%
$578,243
$578.2K
Cap Rate 9%
$449,744
$449.7K
Market Conditions
NOI Build-Up for 3,259 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
$70.4K $21.60/SF
− Vacancy
−$5.6K −$1.73/SF
EGI
$64.8K $19.87/SF
− OpEx
−$24.3K −$7.45/SF
NOI
$40.5K $12.42/SF
Area
Pasco County, FL
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$809,540
Cap Rate 7%
$578,243
Cap Rate 9%
$449,744
Alternative Uses
Best Use
Mixed Use
$578.2K
$506.0K – $674.6K
NOI $40,477 @ 7.0% cap · market cap 3.30%
Second Best
Flex RnD
$501.1K
$438.5K – $584.7K
NOI $35,080 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$742.4K
$649.6K – $866.1K
NOI $51,967 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 34601, FL
23,001
Population
12,276
Households
1.9
Avg Household Size
50
Median Age
20%
College-Educated
88%
High-School Grad
114.0 sq mi
ZIP Area
202
Density / Sq Mi
$56,365
Median Household Income
$35,182
Median Earnings
$1,066
Median Rent
$151,500
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?
Mixed-use property - C-2-zoned property combines office, warehouse, and land components within a flexible mixed-use setting.
Where is this mixed-use property located?
The property is located at 16299 Cortez Boulevard Brooksville, FL.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 2.75 fully fenced acres with direct Highway 50 frontage; C‑2 zoning supports commercial and residential uses; Two‑story, solid‑block warehouse with built‑out office area
