Flex Warehouse with Overhead
For Sale
$359,900
15217 Us Highway 301, Dade City, FL 33523
Single building with overhead doors, office space, and fenced yard for flexible commercial use along US 301.
Property Size2,150 SF
Lot Size0.36 Acres
Price / SF$167.40
Days on Market74
Property Features for 15217 Us Highway 301
General Information
Standard status
Active
Size
2,150 SF
Total Parking Spaces
11
Lot size
0.36 Acres
Zoning
C2
Site & Location
Traffic Count
21,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
13 ft
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$4,669
Listing Agency:
KELLER WILLIAMS RLTY NEW TAMPA
(352) 235-0334
Listed By:
Bobby Welbourn · License #3039822
(352) 235-0334
Source:
Exprealty
Added: Jun 12
Changed: Aug 23
Last Checked: Aug 14 at 7:28AM
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 KELLER WILLIAMS RLTY NEW TAMPA
Investment Insights
Based on property information with market context.
This flex warehouse-style building offers a practical mix of workspace and support areas, totaling 2,150 square feet on 0.36 acres. The interior includes a waiting room/lobby and a private office, along with two restrooms. In the main bay, ceiling height reaches 13 feet, with (2) 10’ x 10’ overhead doors providing loading access. A second bay includes an 8’ x 9’ overhead door. Exterior improvements include a 6’ chain link fence with roll gates and an additional 24’ x 34’ concrete pad. The property is plumbed for air compressor air lines and includes a pole sign. Parking is available with 11+ spaces, and the lot is described as having lighting.
The site is located on US Highway 301 with 125 feet of road frontage in a 35 mph speed zone. The public remarks also cite an annual average daily traffic count of 21,000 cars per day, supporting visibility for a wide range of business operations.
For buyers seeking an adaptable commercial property, the listing notes approved commercial uses and references C2 zoning uses in the attachments. The combination of enclosed space, overhead-door access, and a fenced, gated yard can support a variety of warehouse and light commercial needs while keeping onsite office and guest reception functions in place.
The site is located on US Highway 301 with 125 feet of road frontage in a 35 mph speed zone. The public remarks also cite an annual average daily traffic count of 21,000 cars per day, supporting visibility for a wide range of business operations.
For buyers seeking an adaptable commercial property, the listing notes approved commercial uses and references C2 zoning uses in the attachments. The combination of enclosed space, overhead-door access, and a fenced, gated yard can support a variety of warehouse and light commercial needs while keeping onsite office and guest reception functions in place.
Key Highlights
- 2,150 SF commercial building on 0.36 acres with a 1966 year built
- 125' road frontage on US Highway 301 in a 35 mph speed zone
- Annual average daily traffic count of 21,000 cars per day
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
$23,143
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
6.43%
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%
$462,860
$462.9K
Cap Rate 7%
$330,614
$330.6K
Cap Rate 9%
$257,144
$257.1K
Market Conditions
NOI Build-Up for 2,150 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
$38.7K $18.00/SF
− Vacancy
−$3.1K −$1.44/SF
EGI
$35.6K $16.56/SF
− OpEx
−$12.5K −$5.80/SF
NOI
$23.1K $10.76/SF
Area
Pasco County, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$462,860
Cap Rate 7%
$330,614
Cap Rate 9%
$257,144
Alternative Uses
Best Use
Flex RnD
$330.6K
$289.3K – $385.7K
NOI $23,143 @ 7.0% cap · market cap 6.43%
Second Best
Industrial
$246.4K
$215.6K – $287.5K
NOI $17,251 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$489.8K
$428.5K – $571.4K
NOI $34,283 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
3
Drive-in doors
21,000 VPD
Traffic count
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33523, FL
18,540
Population
8,132
Households
2.3
Avg Household Size
42
Median Age
21%
College-Educated
83%
High-School Grad
105.4 sq mi
ZIP Area
176
Density / Sq Mi
$60,897
Median Household Income
$35,283
Median Earnings
$1,020
Median Rent
$231,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Single building with overhead doors, office space, and fenced yard for flexible commercial use along US 301.
Where is this flex space located?
The property is located at 15217 Us Highway 301 Dade City, FL.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 2,150 SF commercial building on 0.36 acres with a 1966 year built; 125' road frontage on US Highway 301 in a 35 mph speed zone; Annual average daily traffic count of 21,000 cars per day
