Medical Office with Birthing
For Sale
Contact for pricing
1900 E Bay Dr, Largo, FL 33771
Turnkey medical office space with unique birthing suites.
Property Size4,875 SF
Price / SF$306.67
Days on Market148
Property Features for 1900 E Bay Dr
General Information
Standard status
Active
Size
4,875 SF
Class
C
Property subtype
Office
Building Details
Year Built
2007
Buildings
1
Stories
1
Listing Agency:
Berkshire Hathaway HomeServices Florida Properties Group
Listed By:
Renee Landes · License #FL SL611957
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 8 at 3:24PM
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 Berkshire Hathaway HomeServices Florida Properties Group
Investment Insights
Based on property information with market context.
This property, constructed in 2007, presents a unique opportunity for investors and owner-users alike. The 4,875 square foot space features a medical floor plan that includes 5 private offices, 4 exam rooms equipped with plumbing, a laboratory area, a large conference/classroom, reception and waiting areas, and a kitchen/break area. A distinctive feature of the property is the inclusion of three private birthing suites, each with a full private bathroom and shower, and a private exit to an outside area. This makes the space suitable for women’s health providers, specialty medical practices, wellness clinics, or other healthcare users. The new owner will have access to 50% use of the monument signage on East Bay Drive. The property currently has a tenant in place, offering flexibility for future owner-user occupancy and the potential for immediate income. Located near Royal Palms and Heron House of Largo, both assisted living facilities, the property benefits from a strong demand for medical and healthcare services in the area. Situated within the East Bay medical corridor, the property offers convenient access to major thoroughfares, surrounding medical providers, and nearby residential communities, making it an attractive option for investors and medical owner-users seeking a turnkey facility in the Largo market.
Key Highlights
- Turnkey medical facility featuring a well‑designed medical floor plan, including offices, exam rooms with plumbing, lab, conference room, and kitchen.
- Three private birthing suites, each with a full private bathroom and private outside exit.
- Located in the East Bay medical corridor, near assisted living facilities, with convenient access to major thoroughfares.
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
$75,691
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
5.06%
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%
$1,513,820
$1.5M
Cap Rate 7%
$1,081,300
$1.1M
Cap Rate 9%
$841,011
$841.0K
Market Conditions
NOI Build-Up for 4,875 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
$126.9K $26.04/SF
− Vacancy
−$26.0K −$5.34/SF
EGI
$100.9K $20.70/SF
− OpEx
−$25.2K −$5.18/SF
NOI
$75.7K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /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%
$1,513,820
Cap Rate 7%
$1,081,300
Cap Rate 9%
$841,011
Alternative Uses
Best Use
Office B
$1.08M
$946.1K – $1.26M
NOI $75,691 @ 7.0% cap · market cap 5.06%
Second Best
Healthcare Medical
$642.3K
$562.0K – $749.4K
NOI $44,963 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,762 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33771, FL
29,766
Population
16,898
Households
1.8
Avg Household Size
54
Median Age
25%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
4,961
Density / Sq Mi
$60,139
Median Household Income
$40,417
Median Earnings
$1,379
Median Rent
$145,600
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.
Similar Off Market Nearby
- Coastal Animal Clinic — 1019 Highland Ave, Largo, FL 33770
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical office space with unique birthing suites.
Where is this medical office space located?
The property is located at 1900 E Bay Dr Largo, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Turnkey medical facility featuring a well‑designed medical floor plan, including offices, exam rooms with plumbing, lab, conference room, and kitchen.; Three private birthing suites, each with a full private bathroom and private outside exit.; Located in the East Bay medical corridor, near assisted living facilities, with convenient access to major thoroughfares.
