Renovated Freestanding Office Condo
255 PINE AVENUE, Oldsmar, FL 34677
Class B office condo with recent upgrades and pond view.
Property size:
17,291 SFPrice / SF:
$216/SF- Added:
- May 30, 2025
- Days on Market:
- 354
- Last Refresh:
- Mar 16 at 9:09 am
Property Features for 255 PINE AVENUE
General Information
- Standard status
- Active
- Size
- 17,291 SF
Building Details
- Year Built
- 2002
Listing agent MICHAEL BRUNI
Listing office PROTECH COMMERCIAL REALTY, LLC
Listing date May 30, 2025
Source Corcoran
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 PROTECH COMMERCIAL REALTY, LLC
HighLights
- Premier Class B freestanding office condo building with 17,291 SF of versatile space in a strategic Oldsmar location.
- Comprehensive renovation completed with contemporary finishes and updated systems.
- New roof installed in 2020, ensuring long‑term reliability.
- Picturesque pond view enhancing the workplace environment.
- Convenient access to major highways, Tampa International Airport, and local amenities.
- Offers exclusive control and flexibility as a freestanding condo.
Overview
This Class B freestanding office condo building, located at 255 Pine Ave N in Oldsmar, FL 34677, offers 17,291 square feet of office space. The property has been fully renovated and features a new roof installed in 2020. The building provides a modern and professional environment with 30 individual offices. Situated in Oldsmar, the property offers a serene pond view. Its location provides convenient access to major highways, Tampa International Airport, and local amenities. The property is suitable for professional services, corporate headquarters, or creative firms. Office furniture inclusion is negotiable.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$2.98M
NOI $268,466 @ 9.00% cap · cautious / downside scenario
Moderate
$3.84M
NOI $268,466 @ 7.00% cap · market / base-case scenario
Aggressive
$5.37M
NOI $268,466 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $450.3k | $26.04 |
| − Vacancy | −$92.3k | −$5.34 |
| EGI | $358.0k | $20.70 |
| − OpEx | −$89.5k | −$5.18 |
| NOI | $268.5k | $15.53 |
17,291 SF · lease $26.04/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$3.84M
$3.36M – $4.47M
NOI $268,466 @ 7.0% cap · market cap 7.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $314,827 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
TWN Communications
Telecommunications Service
Location Insight
- Map
- Local Demand
- City
- Oldsmar
- County
- Pinellas
- State
- Florida
- Longitude
- -82.67
- Latitude
- 28.0445
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Class B office condo with recent upgrades and pond view.
Where is this office building located?
The property is located at 255 PINE AVENUE Oldsmar, FL.
What is the asking price?
The asking price for this property is $3,749,900.
What are key features of this property?
This property features: Premier Class B freestanding office condo building with 17,291 SF of versatile space in a strategic Oldsmar location.; Comprehensive renovation completed with contemporary finishes and updated systems.; New roof installed in 2020, ensuring long‑term reliability.
