Office Building with Monument
New
For Sale
$849,000
223 LITHIA PINECREST, Brandon, FL 33511
BPO-zoned property offers reception, conference, executive office, open work, and break-room areas.
Property Size2,029 SF
Lot Size0.60 Acres
Price / SF$418.43
Days on Market2
Property Features for 223 LITHIA PINECREST
General Information
Standard status
Active
Size
2,029 SF
Total Parking Spaces
10
Lot size
0.60 Acres
Property subtype
Commercial
Zoning
BPO
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,867
Building Details
Building Size
2,029 SF
Year Built
1947
Buildings
1
Listing Agency:
BAY STREET COMMERCIAL LLC
Listed By:
Michael Braccia, PA · License #3033512
(813) 625-2375
Source:
Elliman
Added: Sep 12
Last Checked: Sep 12 at 2:27PM
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 BAY STREET COMMERCIAL LLC
Investment Insights
Based on property information with market context.
Built in 1947, this 2,029 SF office building occupies a 26,250 SF BPO-zoned lot. The interior includes a glass-front entrance, reception area with seating for up to 6 clients, a receptionist station, conference room, executive offices, open work area, break room, and 2 restrooms.
The property provides 10 parking spaces with room for additional parking. Monument signage is positioned along Lithia Pinecrest Road, with a second sign of equal size on Bryan Road. The office is located just south of E. Brandon Boulevard (60) and near the I-75 interchange.
The property provides 10 parking spaces with room for additional parking. Monument signage is positioned along Lithia Pinecrest Road, with a second sign of equal size on Bryan Road. The office is located just south of E. Brandon Boulevard (60) and near the I-75 interchange.
Key Highlights
- 2,029 SF office building on a 26,250 SF BPO‑zoned lot
- Interior includes reception, conference room, open work area, break room, and 3 executive offices
- 10 parking spaces with room for additional parking
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
$36,060
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%
$721,200
$721.2K
Cap Rate 7%
$515,143
$515.1K
Cap Rate 9%
$400,667
$400.7K
Market Conditions
NOI Build-Up for 2,029 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
$58.9K $29.04/SF
− Vacancy
−$10.8K −$5.34/SF
EGI
$48.1K $23.70/SF
− OpEx
−$12.0K −$5.92/SF
NOI
$36.1K $17.77/SF
Area
Brandon, FL
Vacancy
18.40%
Lease Rate
$29.04 /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%
$721,200
Cap Rate 7%
$515,143
Cap Rate 9%
$400,667
Alternative Uses
Best Use
Office B
$515.1K
$450.8K – $601.0K
NOI $36,060 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$763.3K
$667.9K – $890.5K
NOI $53,429 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,389
Businesses Nearby
Explore this area
Business Placement
Demographics for 33511, FL
56,627
Population
24,579
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,539
Density / Sq Mi
$77,383
Median Household Income
$44,521
Median Earnings
$1,684
Median Rent
$324,900
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 - BPO-zoned property offers reception, conference, executive office, open work, and break-room areas.
Where is this office building located?
The property is located at 223 LITHIA PINECREST Brandon, FL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 2,029 SF office building on a 26,250 SF BPO‑zoned lot; Interior includes reception, conference room, open work area, break room, and 3 executive offices; 10 parking spaces with room for additional parking
