Two-Tenant Flex
New
For Sale
$1,700,000
15424 AVIATION LOOP, Brooksville, FL 34604
Built in 2005, the property supports single-tenant occupancy with potential for separate commercial configurations.
Property Size10,800 SF
Days on Market2
Property Features for 15424 AVIATION LOOP
General Information
Standard status
Active
Size
10,800 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$8,995
Building Details
Building Size
10,800 SF
Year Built
2005
Buildings
1
Tenancy
Single
Listed By:
Debbie Selph · License #369365
(352) 650-9457
Source:
Elliman
Added: Sep 15
Last Checked: Sep 15 at 2:16PM
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 Debbie Selph
Investment Insights
Based on property information with market context.
This flex-space building was completed in 2005 and is arranged to support two independent commercial occupancies. It is currently leased to one tenant, allowing the existing operation to remain in place while retaining the building’s planned multi-occupant configuration.
The property is located at 15424 Aviation Loop in Brooksville, Florida. Walk Score is 5, reflecting a car-dependent setting, while Bike Score is 28, classified as somewhat bikeable. An additional property at 15271 Flight Path Drive is also available diagonally across from the building.
The property is located at 15424 Aviation Loop in Brooksville, Florida. Walk Score is 5, reflecting a car-dependent setting, while Bike Score is 28, classified as somewhat bikeable. An additional property at 15271 Flight Path Drive is also available diagonally across from the building.
Key Highlights
- Flex‑space building completed in 2005
- Layout supports two independent commercial occupancies
- Currently occupied by a single tenant
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
$116,251
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
6.84%
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%
$2,325,020
$2.3M
Cap Rate 7%
$1,660,729
$1.7M
Cap Rate 9%
$1,291,678
$1.3M
Market Conditions
NOI Build-Up for 10,800 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
$194.4K $18.00/SF
− Vacancy
−$15.6K −$1.44/SF
EGI
$178.8K $16.56/SF
− OpEx
−$62.6K −$5.80/SF
NOI
$116.3K $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%
$2,325,020
Cap Rate 7%
$1,660,729
Cap Rate 9%
$1,291,678
Alternative Uses
Best Use
Flex RnD
$1.66M
$1.45M – $1.94M
NOI $116,251 @ 7.0% cap · market cap 6.84%
Second Best
Warehouse
$1.50M
$1.32M – $1.75M
NOI $105,226 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,212 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34604, FL
12,800
Population
4,948
Households
2.6
Avg Household Size
43
Median Age
19%
College-Educated
89%
High-School Grad
36.3 sq mi
ZIP Area
353
Density / Sq Mi
$85,111
Median Household Income
$40,755
Median Earnings
$1,162
Median Rent
$272,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Built in 2005, the property supports single-tenant occupancy with potential for separate commercial configurations.
Where is this flex space located?
The property is located at 15424 AVIATION LOOP Brooksville, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Flex‑space building completed in 2005; Layout supports two independent commercial occupancies; Currently occupied by a single tenant
