Dunedin Freestanding Professional Office
For Sale
Contact for pricing
Pending
1960 Bayshore Blvd, Dunedin, FL 34698
Freestanding office building in Dunedin, recently updated and ready.
Property Size2,787 SF
Days on Market939
Property Features for 1960 Bayshore Blvd
General Information
Standard status
Pending
Size
2,787 SF
Class
B
Property subtype
Office
Zoning
FX-M (Med Intensity) Urban Center
Investment Type
Owner/User
Building Details
Year Built
1977
Year Renovated
2023
Buildings
1
Stories
1
Listing Agency:
The Boardwalk Company
Listed By:
John Quattrocki · License #FL CQ1026002
Source:
Crexi
Added: Jan 17, 2024
Changed: Aug 8
Last Checked: Aug 7 at 3:24AM
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 The Boardwalk Company
Investment Insights
Based on property information with market context.
This is a freestanding professional office building for sale, located in The Professional Center at the intersection of Bayshore and Michigan Boulevards in Dunedin, Florida. Building C offers 2,787 square feet (mol) of usable office space. The space has been recently updated and refurbished, making it ready for immediate occupancy. It is suitable for a small business, self-proprietor, or investor. A new roof was installed on the building in December 2023. Monument signage is available.
Key Highlights
- Recently updated/refurbished office space ready for immediate occupancy.
- Freestanding professional office building.
- New roof installed in December 2023.
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
$43,272
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
7.34%
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%
$865,440
$865.4K
Cap Rate 7%
$618,171
$618.2K
Cap Rate 9%
$480,800
$480.8K
Market Conditions
NOI Build-Up for 2,787 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
$72.6K $26.04/SF
− Vacancy
−$14.9K −$5.34/SF
EGI
$57.7K $20.70/SF
− OpEx
−$14.4K −$5.18/SF
NOI
$43.3K $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%
$865,440
Cap Rate 7%
$618,171
Cap Rate 9%
$480,800
Alternative Uses
Best Use
Office B
$618.2K
$540.9K – $721.2K
NOI $43,272 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$724.9K
$634.3K – $845.7K
NOI $50,744 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 34698, FL
38,010
Population
22,016
Households
1.7
Avg Household Size
56
Median Age
36%
College-Educated
95%
High-School Grad
11.2 sq mi
ZIP Area
3,394
Density / Sq Mi
$67,323
Median Household Income
$44,747
Median Earnings
$1,571
Median Rent
$335,800
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 building - Freestanding office building in Dunedin, recently updated and ready.
Where is this office building located?
The property is located at 1960 Bayshore Blvd Dunedin, FL.
What is the asking price?
The asking price for this property is $589,500.
What are key features of this property?
This property features: Recently updated/refurbished office space ready for immediate occupancy.; Freestanding professional office building.; New roof installed in December 2023.
