Professional Office Building with
For Sale
$475,000
1492 MARINER Blvd, Spring Hill, FL 34609
Well-equipped office layout with reception, private offices, conference room, kitchen, and updates, positioned for strong roadway visibility.
Property Size1,654 SF
Lot Size0.28 Acres
Price / SF$287.18
Days on Market48
Property Features for 1492 MARINER Blvd
General Information
Standard status
Active
Size
1,654 SF
Lot size
0.28 Acres
Property subtype
Commercial
Zoning
OP
Site & Location
Traffic Count
25,000 vehicles/day
Road Access
Yes
Building Details
Year Built
1981
Listing Agency:
Home-Land Real Estate Inc
(352) 556-0909
Listed By:
Joshua Burbank · License #677255
(352) 556-0909
Source:
Elliman
Added: Jun 23
Changed: Jul 10
Last Checked: Aug 9 at 10:36AM
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 Home-Land Real Estate Inc
Investment Insights
Based on property information with market context.
This well-maintained professional office building includes a welcoming reception area, three private offices, and a spacious conference room that can also function as an executive office. The interior is complemented by a fully equipped kitchen and two updated restrooms. Recent improvements include a new architectural roof, new HVAC, newly painted interior and exterior, expanded parking with a brick paver entrance, luxury vinyl plank flooring, French doors, recessed LED lighting, ceiling fans, and built-in shelving.
The property is located on Mariner Boulevard with exposure to approximately 25,000 vehicles per day, offering visibility and signage opportunities. It sits on a 0.28± acre parcel with excellent road frontage and accessibility, supporting convenient arrival for employees and visitors.
The configuration is suited for a range of professional and office uses. With OP (Office Professional) zoning, the space can support operations such as medical, legal, insurance, real estate, accounting, and general office uses, making it a practical option for an owner-user seeking a permanent location or a buyer looking for a turn-key commercial office asset.
The property is located on Mariner Boulevard with exposure to approximately 25,000 vehicles per day, offering visibility and signage opportunities. It sits on a 0.28± acre parcel with excellent road frontage and accessibility, supporting convenient arrival for employees and visitors.
The configuration is suited for a range of professional and office uses. With OP (Office Professional) zoning, the space can support operations such as medical, legal, insurance, real estate, accounting, and general office uses, making it a practical option for an owner-user seeking a permanent location or a buyer looking for a turn-key commercial office asset.
Key Highlights
- Professional office building built in 1981 with 1,654 SF on a 0.28± acre parcel
- Zoned OP (office professional) with reception, three private offices, and a spacious conference/executive office
- Includes a fully equipped kitchen and two updated restrooms
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
$24,258
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
5.11%
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%
$485,160
$485.2K
Cap Rate 7%
$346,543
$346.5K
Cap Rate 9%
$269,533
$269.5K
Market Conditions
NOI Build-Up for 1,654 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
$41.7K $25.20/SF
− Vacancy
−$9.3K −$5.64/SF
EGI
$32.3K $19.56/SF
− OpEx
−$8.1K −$4.89/SF
NOI
$24.3K $14.67/SF
Area
Spring Hill, FL
Vacancy
22.40%
Lease Rate
$25.20 /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%
$485,160
Cap Rate 7%
$346,543
Cap Rate 9%
$269,533
Alternative Uses
Best Use
Office B
$346.5K
$303.2K – $404.3K
NOI $24,258 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$528.8K
$462.7K – $617.0K
NOI $37,017 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 34609, FL
43,997
Population
18,426
Households
2.4
Avg Household Size
46
Median Age
22%
College-Educated
91%
High-School Grad
22.2 sq mi
ZIP Area
1,982
Density / Sq Mi
$79,284
Median Household Income
$40,789
Median Earnings
$1,593
Median Rent
$275,900
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?
Office building - Well-equipped office layout with reception, private offices, conference room, kitchen, and updates, positioned for strong roadway visibility.
Where is this office building located?
The property is located at 1492 MARINER Blvd Spring Hill, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Professional office building built in 1981 with 1,654 SF on a 0.28± acre parcel; Zoned OP (office professional) with reception, three private offices, and a spacious conference/executive office; Includes a fully equipped kitchen and two updated restrooms
