Two-Suite Medical Office
For Sale
Contact for pricing
Pending
19439 Shumard Oak Dr, Land O Lakes, FL 34638
Two separate office suites with existing medical buildout and plumbing offer flexibility for professional or medical users.
Property Size3,000 SF
Days on Market95
Property Features for 19439 Shumard Oak Dr
General Information
Standard status
Pending
Size
3,000 SF
Class
C
Property subtype
Office
Additional Details
Office Units
2
Building Details
Year Built
2008
Stories
1
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Florida Properties Group
Listed By:
Kristy Marcelle · License #FL SL3267955
Source:
Crexi
Added: Jun 2
Changed: Aug 8
Last Checked: Jul 24 at 5:50PM
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 two-suite professional/medical office building totals approximately 3,000 square feet and is divided into two approximately 1,500 SF suites, creating a practical setup for either an owner-user or a buyer seeking to occupy one suite and lease the other. Suite 101 includes a medical office buildout with plumbing, counters, sinks, and a consultation-room layout. Suite 102 is designed for general professional office use and includes plumbing in the walls, offering potential future flexibility for qualifying uses subject to buyer verification and applicable requirements.
The property is located near the SR 54 corridor in Land O’ Lakes, Florida, where it benefits from convenient access and an established mix of nearby residential growth supporting demand for professional and medical office space.
For tenants, this layout can support a range of office-based operations, including medical, wellness, therapy, and other professional services such as legal, accounting, insurance, mortgage, real estate, and administrative uses. For buyers, the two-suite configuration provides straightforward options to customize occupancy, including keeping the medical-ready suite in place while tailoring the second suite to the needs of a specific professional user, subject to required approvals and verification.
The property is located near the SR 54 corridor in Land O’ Lakes, Florida, where it benefits from convenient access and an established mix of nearby residential growth supporting demand for professional and medical office space.
For tenants, this layout can support a range of office-based operations, including medical, wellness, therapy, and other professional services such as legal, accounting, insurance, mortgage, real estate, and administrative uses. For buyers, the two-suite configuration provides straightforward options to customize occupancy, including keeping the medical-ready suite in place while tailoring the second suite to the needs of a specific professional user, subject to required approvals and verification.
Key Highlights
- Two‑suite professional/medical office building built in 2008
- Approximately 3,000 SF total, split into two approximately 1,500 SF suites
- Suite 101 includes medical office buildout with plumbing, counters, sinks, and consultation‑room layout
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
$27,670
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
2.99%
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%
$553,400
$553.4K
Cap Rate 7%
$395,286
$395.3K
Cap Rate 9%
$307,444
$307.4K
Market Conditions
NOI Build-Up for 3,000 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
$50.4K $16.80/SF
− Vacancy
−$4.3K −$1.43/SF
EGI
$46.1K $15.37/SF
− OpEx
−$18.4K −$6.15/SF
NOI
$27.7K $9.22/SF
Area
Pasco County, FL
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
40.00%
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%
$553,400
Cap Rate 7%
$395,286
Cap Rate 9%
$307,444
Alternative Uses
Best Use
Healthcare Medical
$395.3K
$345.9K – $461.2K
NOI $27,670 @ 7.0% cap · market cap 2.99%
Second Best
Office B
$289.2K
$253.1K – $337.4K
NOI $20,245 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$683.4K
$598.0K – $797.3K
NOI $47,837 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 34638, FL
31,746
Population
12,016
Households
2.6
Avg Household Size
37
Median Age
42%
College-Educated
95%
High-School Grad
46.3 sq mi
ZIP Area
686
Density / Sq Mi
$117,931
Median Household Income
$51,941
Median Earnings
$2,204
Median Rent
$378,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two separate office suites with existing medical buildout and plumbing offer flexibility for professional or medical users.
Where is this office units located?
The property is located at 19439 Shumard Oak Dr Land O Lakes, FL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Two‑suite professional/medical office building built in 2008; Approximately 3,000 SF total, split into two approximately 1,500 SF suites; Suite 101 includes medical office buildout with plumbing, counters, sinks, and consultation‑room layout
