Corner Office Condo Investment
For Sale
$435,000
300 State Street East, Oldsmar, FL 34677
Class A office condo in Oldsmar, fully leased to national firm.
Property Size1,419 SF
Price / SF$306.55
Days on Market333
Property Features for 300 State Street East
General Information
Standard status
Active
Size
1,419 SF
Class
A
Property subtype
Office
Zoning
TCCN - Office
Building Details
Building Size
1,419 SF
Year Built
2008
Listing Agency:
RE/MAX
(727) 403-5611
Listed By:
Mark Ganier · License #BK536738
(727) 403-5611
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 23 at 2:24AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This Class A corner office condo is located in the Galleria Professional Complex in Oldsmar. The property is fully leased to a national firm, generating revenue for the owner. It offers a low-maintenance investment opportunity with income secured for the next five years and beyond. The property size is 1419 square feet. The intended use of the property is for investment purposes. Financial information is available upon signing a non-disclosure agreement. To reach the property, driving East on Tampa Road (S.R. 580), turn right on St. Petersburg Drive E and go for 0.2 mi., then turn right on State Street.
Key Highlights
- Absolute Triple Net Investment: Low‑maintenance investment property.
- Fully Leased: Currently leased to a national firm.
- Secure Income: Generating excellent revenue with a lease extending five years and beyond.
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
$22,032
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
5.06%
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%
$440,640
$440.6K
Cap Rate 7%
$314,743
$314.7K
Cap Rate 9%
$244,800
$244.8K
Market Conditions
NOI Build-Up for 1,419 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
$37.0K $26.04/SF
− Vacancy
−$7.6K −$5.34/SF
EGI
$29.4K $20.70/SF
− OpEx
−$7.3K −$5.18/SF
NOI
$22.0K $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%
$440,640
Cap Rate 7%
$314,743
Cap Rate 9%
$244,800
Alternative Uses
Best Use
Office B
$314.7K
$275.4K – $367.2K
NOI $22,032 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$369.1K
$323.0K – $430.6K
NOI $25,837 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 34677, FL
22,524
Population
10,056
Households
2.2
Avg Household Size
46
Median Age
41%
College-Educated
95%
High-School Grad
12.7 sq mi
ZIP Area
1,774
Density / Sq Mi
$85,389
Median Household Income
$46,404
Median Earnings
$1,484
Median Rent
$352,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Class A office condo in Oldsmar, fully leased to national firm.
Where is this office units located?
The property is located at 300 State Street East Oldsmar, FL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Absolute Triple Net Investment: Low‑maintenance investment property.; Fully Leased: Currently leased to a national firm.; Secure Income: Generating excellent revenue with a lease extending five years and beyond.
