Corner Retail
For Sale
$1,340,000
Pending
1400 W BAY Drive, Largo, FL 33770
Commercial Sale, LARGO, FL
Property Size7,250 SF
Lot Size0.66 Acres
Days on Market330
Property Features for 1400 W BAY Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Directions
Head west on I-275 to exit at Roosevelt Blvd - Head west on Roosevelt Blvd - Roosevelt blvd becomes West Bay Drive - West Bay Drive to address.
Subdivision
33770 - Largo/Belleair Bluffs
Standard status
Pending
APN
33-29-15-00000-130-1600
Lot size
0.66 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PART OF NE 1/4 OF SEC 13-29-15 DESC FROM SW COR OF SW 1/4 OF NE 1/4 OF SEC "TH S89D31'49""E 416.27FT TH" "N00D47'32""E 33FT TH N00D" "47'32""E 10FT FOR POB TH" "N00D47'32""E 132.72FT TH" "S89D23'32""E 100FT TH S00D" "47'32""W 18.55FT TH S89D23'" "32" "E 117FT TH S00D47'32""W" "123.65FT TH N89D31'49""W" "207FT TH N44D22'09""W" 14.10FT TO POB
Tax Annual Amount
15075
Legal Description
PART OF NE 1/4 OF SEC 13-29-15 DESC FROM SW COR OF SW 1/4 OF NE 1/4 OF SEC "TH S89D31'49""E 416.27FT TH" "N00D47'32""E 33FT TH N00D" "47'32""E 10FT FOR POB TH" "N00D47'32""E 132.72FT TH" "S89D23'32""E 100FT TH S00D" "47'32""W 18.55FT TH S89D23'" "32" "E 117FT TH S00D47'32""W" "123.65FT TH N89D31'49""W" "207FT TH N44D22'09""W" 14.10FT TO POB
Utilities
Cooling system
Central Air
Building Details
Year built
1971
Floors in Building
1
Building materials
Metal Frame
Roof type
Metal
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
(727) 282-1788
Listed By:
Chris Calhoon · License #3293399
(727) 542-9933
Added: Oct 17, 2025
Changed: Sep 10
Last Checked: Sep 11 at 3:06AM
MLS# TB8439253
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property includes a 7,250-square-foot retail building constructed in 1971 with metal-frame construction, a metal roof, and central air conditioning. The building sits on a 28,678-square-foot corner lot with 207 feet of frontage and is zoned CG, or Commercial General. An existing business remains in operation and is expected to relocate following a sale. Showings are available by appointment, with no disruption to employees requested.
Located at 1400 W Bay Drive in Largo, Florida, the site offers a prominent corner position along West Bay Drive. The parcel encompasses 0.66 acres and includes site lighting. The building and lot provide an established retail setting for continued commercial use, subject to applicable zoning and approvals.
Located at 1400 W Bay Drive in Largo, Florida, the site offers a prominent corner position along West Bay Drive. The parcel encompasses 0.66 acres and includes site lighting. The building and lot provide an established retail setting for continued commercial use, subject to applicable zoning and approvals.
Key Highlights
- 7,250‑square‑foot retail building on a 28,678‑square‑foot lot
- 207 feet of frontage on West Bay Drive
- 0.66‑acre corner parcel with site lighting
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
$71,177
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
5.31%
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%
$1,423,540
$1.4M
Cap Rate 7%
$1,016,814
$1.0M
Cap Rate 9%
$790,856
$790.9K
Market Conditions
NOI Build-Up for 7,250 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
$108.8K $15.00/SF
− Vacancy
−$7.1K −$0.98/SF
EGI
$101.7K $14.03/SF
− OpEx
−$30.5K −$4.21/SF
NOI
$71.2K $9.82/SF
Area
Pinellas County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,423,540
Cap Rate 7%
$1,016,814
Cap Rate 9%
$790,856
Alternative Uses
Best Use
Retail
$1.02M
$889.7K – $1.19M
NOI $71,177 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,005 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,793
Businesses Nearby
Explore this area
Business Placement
Demographics for 33770, FL
25,475
Population
13,417
Households
1.9
Avg Household Size
50
Median Age
26%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$58,071
Median Household Income
$39,354
Median Earnings
$1,481
Median Rent
$245,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding retail building with central air conditioning on a commercially zoned corner site.
Where is this retail space located?
The property is located at 1400 W BAY Drive Largo, FL.
What is the asking price?
The asking price for this property is $1,340,000.
What are key features of this property?
This property features: 7,250‑square‑foot retail building on a 28,678‑square‑foot lot; 207 feet of frontage on West Bay Drive; 0.66‑acre corner parcel with site lighting
