Renovated Mixed-Use
New
For Sale
$599,000
2050 W BAY Dr, Largo, FL 33770
Commercially zoned space combines flexible rooms, an open interior, kitchen facilities, and a paved outdoor area.
Property Size1,640 SF
Days on Market4
Property Features for 2050 W BAY Dr
General Information
Standard status
Active
Size
1,640 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,677
Building Details
Building Size
1,640 SF
Year Built
1959
Buildings
1
Listing Agency:
COLDWELL BANKER REALTY
(727) 432-9019
Listed By:
Martha Thorn · License #477603
(727) 432-9019
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 7:31AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
Built in 1959, this mixed-use property features a renovated interior organized around an open central area. Tile flooring extends throughout the building, while the kitchen includes a large island, extensive cabinetry, and quality countertops. Several private rooms can support office, consultation, treatment, or accommodation functions, and the updated bathrooms include custom tilework.
The property also includes a fully paved backyard that provides usable outdoor space. Its location at 2050 W Bay Dr in Largo places it near shopping, restaurants, airports, and Gulf beaches. Walk Score is 51, Bike Score is 55, and Transit Score is 27.
The property also includes a fully paved backyard that provides usable outdoor space. Its location at 2050 W Bay Dr in Largo places it near shopping, restaurants, airports, and Gulf beaches. Walk Score is 51, Bike Score is 55, and Transit Score is 27.
Key Highlights
- Commercial zoning supports a range of business uses
- Renovated interior with open central layout and tile flooring
- Kitchen includes a large island, extensive cabinetry, and quality countertops
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
$25,463
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
4.25%
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%
$509,260
$509.3K
Cap Rate 7%
$363,757
$363.8K
Cap Rate 9%
$282,922
$282.9K
Market Conditions
NOI Build-Up for 1,640 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
$42.7K $26.04/SF
− Vacancy
−$8.8K −$5.34/SF
EGI
$34.0K $20.70/SF
− OpEx
−$8.5K −$5.18/SF
NOI
$25.5K $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%
$509,260
Cap Rate 7%
$363,757
Cap Rate 9%
$282,922
Alternative Uses
Best Use
Office B
$363.8K
$318.3K – $424.4K
NOI $25,463 @ 7.0% cap · market cap 4.25%
Second Best
Mixed Use
$291.0K
$254.6K – $339.5K
NOI $20,369 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$426.6K
$373.3K – $497.7K
NOI $29,860 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,963
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned space combines flexible rooms, an open interior, kitchen facilities, and a paved outdoor area.
Where is this mixed-use property located?
The property is located at 2050 W BAY Dr Largo, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Commercial zoning supports a range of business uses; Renovated interior with open central layout and tile flooring; Kitchen includes a large island, extensive cabinetry, and quality countertops
