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    Pinellas Park Office Suites Available Title is generated by Realmo AI

    3491 Gandy Blvd Pinellas Park FL 33781, Pinellas Park, FL 33781

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    For Lease
    $19 SF/Yr

    1,040 - 27,402 SF of Space Available in Pinellas Park, FL 33781

    Added:
    Jan 14, 2025
    Days on Market:
    485
    Last Refresh:
    Mar 16 at 9:05 am

    Property Features for 3491 Gandy Blvd Pinellas Park FL 33781

    General Information

    Standard status
    Active
    Property type
    Medical Office Space, Office Units, Office buildings, Office properties & Spaces
    Class
    B
    Elevators
    N/A
    Rate Type
    Yearly

    Building Details

    Year Built
    1987
    Year Renovated
    2010
    Stories
    2

    We can help!

    Listing Contact
    John Milsaps

    Listing agent John

    Listing office

    Listing date Jan 14, 2025

    Overview

    This well-maintained, 27,402-square-foot office complex is located in Pinellas Park, Florida. The property offers various sized suites, some combinable up to 13,000+ square feet, and others divisible to suit individual needs. Situated on Gandy Boulevard with nearly 500 feet of frontage, the property boasts high visibility between US Hwy 19 and I-275, ensuring easy access to major roadways and the entire Tampa Bay area. Ample parking is provided, including a dedicated staff lot, exceeding 4 spaces per 1,000 square feet. The property features a professional atmosphere and an outdoor patio with seating. A large pylon sign provides excellent visibility. Most perimeter offices enjoy abundant natural light from large windows. Amenities include 24-hour access, on-site property management, and air conditioning. In-suite conference rooms are available, and many suites also include breakrooms. The convenient location offers proximity to St. Petersburg, Tampa, Pinellas beaches, St. Pete/Clearwater Airport, and numerous restaurants and shops. The yearly lease rates are $19 per square foot. The property is ideal for businesses seeking a highly visible, easily accessible, and well-equipped office space in a thriving area.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Similar Places Nearby

    • Serenity Veterinary Hospital — 6075 Park Blvd, Pinellas Park, FL 33781
    • Pinellas Animal Hospital - Mandy Wallen DVM — 7791 52nd St N, Pinellas Park, FL 33781
    • Pinellas Animal Hospital — 7791 52nd St N, Pinellas Park, FL 33781

    Map

    City
    Pinellas Park
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7138
    Latitude
    27.8394

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    FAQs

    What type of property is this?
    Medical Office Space - 1,040 - 27,402 SF of Space Available in Pinellas Park, FL 33781
    Where is this medical office space located?
    The property is located at 3491 Gandy Blvd Pinellas Park FL 33781 Pinellas Park, FL.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    (813) 279-1366
    We can help!
    Listing Contact
    John Milsaps
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    3491 Gandy Blvd, Pinellas Park, FL 33781, Pinellas Park, FL 33781
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