Two-Story Mixed-Use
For Sale
$900,000
2865 E BAY DRIVE, Largo, FL 33771
LARGO, FL
Property Size6,020 SF
Price / SF$149.50
Days on Market46
Property Features for 2865 E BAY DRIVE
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
LAKE PALMS SEC 4
Standard status
Active
Size
6,020 SF
Building Details
Year built
1958
Listing Agency:
Engel & Volkers Belleair · Engel & Völkers
(727) 461-1000
Listed By:
Kelly Montgomery-Kepler · License #BK3345661
(727) 515-6887
Added: Aug 29
Changed: Oct 3
Last Checked: Oct 13 at 5:06PM
MLS# TB8535497
Copyright © 2026 Engel & Völkers. 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 6,020-square-foot, two-story concrete block building combines commercial space with a separate residential component. The first floor includes retail and office areas along with warehouse space, while the upper level contains an 800 SF, one-bedroom, one-bath apartment. A garage door connects to an adjacent +/-1,000 SF warehouse with two roll-up doors, a fenced and paved yard, and a remotely controlled gate for secured equipment and vehicle storage.
The property fronts East Bay Drive with 75 feet of frontage and includes an 8' x 9.5' illuminated monument sign and glass storefront. Commercial General (CG) zoning supports the stated potential for retail, professional or medical office, personal or home services, and trade contractor uses. Built in 1958, the property is approximately 3 miles from US Highway 19, 4.5 miles from St. Pete/Clearwater Airport, 3 miles from Largo City Hall, and 5 miles from the Gulf beaches. It is not in a flood zone.
The property fronts East Bay Drive with 75 feet of frontage and includes an 8' x 9.5' illuminated monument sign and glass storefront. Commercial General (CG) zoning supports the stated potential for retail, professional or medical office, personal or home services, and trade contractor uses. Built in 1958, the property is approximately 3 miles from US Highway 19, 4.5 miles from St. Pete/Clearwater Airport, 3 miles from Largo City Hall, and 5 miles from the Gulf beaches. It is not in a flood zone.
Key Highlights
- 6,020‑square‑foot, two‑story concrete block mixed‑use building
- Commercial General (CG) zoning
- 800 SF, 1‑bedroom/1‑bath apartment on the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,768
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,495,360
$1.5M
Cap Rate 7%
$1,068,114
$1.1M
Cap Rate 9%
$830,756
$830.8K
Market Conditions
NOI Build-Up for 6,020 SF
Gross rent
$130.0K $21.60/SF
− Vacancy
−$10.4K −$1.73/SF
EGI
$119.6K $19.87/SF
− OpEx
−$44.9K −$7.45/SF
NOI
$74.8K $12.42/SF
Area
Pinellas County, FL
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,495,360
Cap Rate 7%
$1,068,114
Cap Rate 9%
$830,756
Alternative Uses
Best Use
Office B
$1.34M
$1.17M – $1.56M
NOI $93,469 @ 7.0% cap · market cap 10.39%
Second Best
Mixed Use
$1.07M
$934.6K – $1.25M
NOI $74,768 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,609 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
856
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
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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?
Mixed-use property - Concrete block property combines retail, office, warehouse, and live/work capabilities under Commercial General zoning.
Where is this mixed-use property located?
The property is located at 2865 E BAY DRIVE Largo, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 6,020‑square‑foot, two‑story concrete block mixed‑use building; Commercial General (CG) zoning; 800 SF, 1‑bedroom/1‑bath apartment on the second floor
