Renovated Coastal Office
For Sale
$599,000
2050 W BAY Drive, Largo, FL 33770
Commercial Sale, LARGO, FL
Property Size1,640 SF
Lot Size0.24 Acres
Price / SF$365.24
Days on Market53
Property Features for 2050 W BAY Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Window features
Drapes
Appliances
Dishwasher, Dryer, Microwave, Washer
Subdivision
BELLEAIR MANOR UNIT 1 & 2
Lot features
Corner Lot, City Limits, Landscaped, Near Public Transit, Sidewalk
Directions
Heading West on West Bay, home will be on the corner of East Overbrook St & West Bay
Standard status
Active
APN
33-29-15-07002-000-1680
Size
1,640 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BELLEAIR MANOR UNIT 1 & 2 (UNIT 1) LOT 168
Tax Annual Amount
7677
Legal Description
BELLEAIR MANOR UNIT 1 & 2 (UNIT 1) LOT 168
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
COLDWELL BANKER REALTY
(727) 581-9411
Listed By:
Martha Thorn · License #477603
(727) 432-9019
Added: Jul 31
Changed: Aug 24
Last Checked: Sep 21 at 6:06PM
MLS# TB8536203
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,640-square-foot office property combines a renovated interior with a flexible commercial layout. The open-concept plan centers on a gathering area connected to a kitchen with a large island, cabinetry, and quality countertops. Multiple private rooms can support offices, consultation areas, treatment rooms, or other business functions. Tile flooring, updated bathrooms, central heating, central air, and block construction contribute to the property’s functional setup.
The 0.24-acre site includes a fully paved backyard that can accommodate outdoor seating, gatherings, or employee breaks. Public water and public sewer serve the property, with a shingle roof and appliances including a dishwasher, dryer, microwave, and washer. Built in 1959, the commercially zoned property is located minutes from major shopping, restaurants, airports, and Gulf beaches.
The 0.24-acre site includes a fully paved backyard that can accommodate outdoor seating, gatherings, or employee breaks. Public water and public sewer serve the property, with a shingle roof and appliances including a dishwasher, dryer, microwave, and washer. Built in 1959, the commercially zoned property is located minutes from major shopping, restaurants, airports, and Gulf beaches.
Key Highlights
- 1,640‑square‑foot office property on a 0.24‑acre site
- Open‑concept interior with central gathering area and kitchen island
- Multiple private rooms for offices, consultations, treatment rooms, or accommodations
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
—
—
no second resolved use
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,537
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
Check the figures for this property
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 - Commercially zoned property with an open interior, private rooms, kitchen, and paved outdoor area.
Where is this office building located?
The property is located at 2050 W BAY Drive 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: 1,640‑square‑foot office property on a 0.24‑acre site; Open‑concept interior with central gathering area and kitchen island; Multiple private rooms for offices, consultations, treatment rooms, or accommodations
