Office Building with Six
For Sale
$1,500,000
200 W BAY DRIVE, Largo, FL 33770
General Office zoning supports a flexible professional-use configuration with meeting, break, storage, and server areas.
Property Size3,456 SF
Lot Size0.23 Acres
Price / SF$434.03
Days on Market9
Property Features for 200 W BAY DRIVE
General Information
Standard status
Active
Size
3,456 SF
Total Parking Spaces
9
Lot size
0.23 Acres
Property subtype
Commercial
Zoning
General Office
Taxes and HOA fees
Annual Taxes
$5,791
Amenities
break room
two bathrooms
small attic space
storage / server room
six offices
conference room
Central air
Pool
Public Pool
Central Air Cooling
Building Details
Year Built
1953
Buildings
1
Building Size
3,456 SF
Listing Agency:
REALTY EXPERTS
(727) 888-1000
Listed By:
GRAHAM MUNCE · License #3242854
(727) 902-3394
Source:
Corcoran
Added: Sep 15
Changed: Sep 22
Last Checked: Sep 22 at 1:36PM
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 REALTY EXPERTS
Investment Insights
Based on property information with market context.
This office building provides approximately 3,456 square feet of workspace within a 50' x 200' lot measuring approximately 10,000–10,041 square feet. The interior includes six offices, a conference room, break room, two bathrooms, a storage/server room, and a small attic area. The property was built in 1953 and is zoned General Office.
Recent capital improvements include a roof completed in March 2024, asphalt installed in August 2021, and an updated A/C system added in October 2023. Eight marked parking spaces and a handicap space are located behind the building, with room for three or four additional vehicles. A few street spaces are available at the front, and a public lot is located near the new city hall. The property address is 200 W BAY DRIVE, LARGO, FL 33770.
Recent capital improvements include a roof completed in March 2024, asphalt installed in August 2021, and an updated A/C system added in October 2023. Eight marked parking spaces and a handicap space are located behind the building, with room for three or four additional vehicles. A few street spaces are available at the front, and a public lot is located near the new city hall. The property address is 200 W BAY DRIVE, LARGO, FL 33770.
Key Highlights
- Approximately 3,456 square feet of office space on a 50' x 200' lot
- Six offices, conference room, break room, two bathrooms, storage/server room, and small attic
- General Office zoning
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
$53,659
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
3.58%
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%
$1,073,180
$1.1M
Cap Rate 7%
$766,557
$766.6K
Cap Rate 9%
$596,211
$596.2K
Market Conditions
NOI Build-Up for 3,456 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
$90.0K $26.04/SF
− Vacancy
−$18.4K −$5.34/SF
EGI
$71.5K $20.70/SF
− OpEx
−$17.9K −$5.18/SF
NOI
$53.7K $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%
$1,073,180
Cap Rate 7%
$766,557
Cap Rate 9%
$596,211
Alternative Uses
Best Use
Office B
$766.6K
$670.7K – $894.3K
NOI $53,659 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$898.9K
$786.6K – $1.05M
NOI $62,925 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,411
Businesses Nearby
Explore this area
Business Placement
Demographics for 33770, FL
25,475
Population
13,417
Households
1.9
Avg Household Size
50
Median Age
26%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$58,071
Median Household Income
$39,354
Median Earnings
$1,481
Median Rent
$245,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - General Office zoning supports a flexible professional-use configuration with meeting, break, storage, and server areas.
Where is this office building located?
The property is located at 200 W BAY DRIVE Largo, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 3,456 square feet of office space on a 50' x 200' lot; Six offices, conference room, break room, two bathrooms, storage/server room, and small attic; General Office zoning
