Largo Office Building For
For Sale
$3,850,000
Pending
2700 E BAY DRIVE, Largo, FL 33771
20,000 SF office building on busy East Bay Drive.
Property Size20,547 SF
Lot Size0.92 Acres
Days on Market172
Property Features for 2700 E BAY DRIVE
General Information
Standard status
Pending
Size
20,547 SF
Lot size
0.92 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$35,178
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Building Details
Year Built
1975
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
(727) 282-1788
Listed By:
PATRICK CALHOON · License #259869
Source:
Corcoran
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 8 at 6:10AM
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 SMITH & ASSOCIATES REAL ESTATE
Investment Insights
Based on property information with market context.
This 20,000 sq ft mol block office building is located on busy East Bay Dr. in Largo. The property offers a strong current cash flow with the potential to increase revenue by filling a couple of vacancies, making it suitable for investors or partial owner-users. The location is attractive to any professional office tenant, and the current tenancy is mostly medical related. Most of the A/C units have been recently replaced, and the roof is newer, reducing anticipated capital expenditures in the coming years. The leases are full service and require minimal management. The corner lot measures 40,000 sq ft and provides about 75 parking spaces. The property benefits from monument signage and good visibility. It is located in a non-flood zone.
Key Highlights
- Strong cash flow with upside potential, ideal for investors or owner‑users.
- Newer roof and recently replaced A/C units minimize anticipated capital expenditures.
- High visibility location on busy East Bay Dr. with monument signage.
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
$319,020
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
8.29%
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%
$6,380,400
$6.4M
Cap Rate 7%
$4,557,429
$4.6M
Cap Rate 9%
$3,544,667
$3.5M
Market Conditions
NOI Build-Up for 20,547 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
$535.0K $26.04/SF
− Vacancy
−$109.7K −$5.34/SF
EGI
$425.4K $20.70/SF
− OpEx
−$106.3K −$5.18/SF
NOI
$319.0K $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%
$6,380,400
Cap Rate 7%
$4,557,429
Cap Rate 9%
$3,544,667
Alternative Uses
Best Use
Office B
$4.56M
$3.99M – $5.32M
NOI $319,020 @ 7.0% cap · market cap 8.29%
Second Best
Healthcare Medical
$2.71M
$2.37M – $3.16M
NOI $189,509 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$5.34M
$4.68M – $6.24M
NOI $374,111 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
851
Businesses Nearby
Explore this area
Business Placement
Demographics for 33771, FL
29,766
Population
16,898
Households
1.8
Avg Household Size
54
Median Age
25%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
4,961
Density / Sq Mi
$60,139
Median Household Income
$40,417
Median Earnings
$1,379
Median Rent
$145,600
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?
Office building - 20,000 SF office building on busy East Bay Drive.
Where is this office building located?
The property is located at 2700 E BAY DRIVE Largo, FL.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: Strong cash flow with upside potential, ideal for investors or owner‑users.; Newer roof and recently replaced A/C units minimize anticipated capital expenditures.; High visibility location on busy East Bay Dr. with monument signage.
