Renovated Flex Space in
For Sale
$1,750,000
325 MEARS BOULEVARD #100, Oldsmar, FL 34677
Turn-key flex industrial/office property with recent improvements, ideal for investors.
Property Size6,100 SF
Lot Size0.43 Acres
Price / SF$286.89
Days on Market382
Property Features for 325 MEARS BOULEVARD #100
General Information
Standard status
Active
Size
6,100 SF
Lot size
0.43 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,754
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Central Heating
Electric Heating
Luxury Vinyl Flooring
Building Details
Year Built
1997
Listing Agency:
VIP EXECUTIVE REALTY LLC
(813) 475-6019
Listed By:
TOM BIBLE · License #3049862
Source:
Corcoran
Added: Aug 7, 2025
Changed: Aug 23
Last Checked: Aug 23 at 7:30AM
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 VIP EXECUTIVE REALTY LLC
Investment Insights
Based on property information with market context.
This renovated flex industrial/office property is located in Oldsmar. The versatile space features over $300,000 in recent improvements. It is located in a prime location with easy access to Tampa Road and State Road 580, providing direct routes to Tampa, Clearwater, Palm Harbor, St. Pete and Safety Harbor. The property is suitable for investors seeking a turn-key flex space or owner-users in the home services industry, such as HVAC companies, plumbing contractors, electricians, or other trades-based businesses looking to own rather than lease. The current owner is open to a leaseback of up to 6–12 months, offering immediate cash flow and allowing flexibility for short- or mid-term transition planning. The property size is 6100 square feet.
Key Highlights
- Over $300,000 in recent upgrades.
- Prime Oldsmar location with easy access to major roadways (Tampa Road and State Road 580).
- Ideal for investors or home service business owners (HVAC, plumbing, electricians, etc.).
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
$94,711
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
5.41%
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%
$1,894,220
$1.9M
Cap Rate 7%
$1,353,014
$1.4M
Cap Rate 9%
$1,052,344
$1.1M
Market Conditions
NOI Build-Up for 6,100 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
$158.8K $26.04/SF
− Vacancy
−$32.6K −$5.34/SF
EGI
$126.3K $20.70/SF
− OpEx
−$31.6K −$5.18/SF
NOI
$94.7K $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%
$1,894,220
Cap Rate 7%
$1,353,014
Cap Rate 9%
$1,052,344
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.58M
NOI $94,711 @ 7.0% cap · market cap 5.41%
Second Best
Flex RnD
$788.4K
$689.9K – $919.8K
NOI $55,188 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,066 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
Under-served
Demand for This Use
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.
Similar Off Market Nearby
- Tampa Bartender — 3905 Tampa Rd #40, Oldsmar, FL 34677
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Frequently Asked Questions
What type of property is this?
Flex space - Turn-key flex industrial/office property with recent improvements, ideal for investors.
Where is this flex space located?
The property is located at 325 MEARS BOULEVARD #100 Oldsmar, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Over $300,000 in recent upgrades.; Prime Oldsmar location with easy access to major roadways (Tampa Road and State Road 580).; Ideal for investors or home service business owners (HVAC, plumbing, electricians, etc.).
