Mixed-Use Land with Warehouse
For Sale
$4,500,000
37150 Chancey Road ZEPHYRHILLS, Zephyrhills, FL 33541
Mixed zoning includes A-R and C-2 with existing residential and warehouse structures plus a long-term cell tower lease.
Property Size17,600 SF
Lot Size12.64 Acres
Price / SF$255.68
Days on Market54
Property Features for 37150 Chancey Road ZEPHYRHILLS
General Information
Standard status
Active
Size
17,600 SF
Lot size
12.64 Acres
Property subtype
Land
Zoning
AR, C2
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,334
Amenities
Well
12.64
shown on picture
10
false
Other
Listing Agency:
RE/MAX Palm Realty
(941) 451-2025
Listed By:
Ginny Powers · License #3585531
(941) 451-2025
Source:
Palm-realty-south-venice-fl.remax
Added: Jul 10
Changed: Aug 14
Last Checked: Aug 31 at 1:05PM
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 Palm Realty
Investment Insights
Based on property information with market context.
The Chancey Road assemblage offers approximately 12.64± acres of mixed-use land with existing improvements that include residential structures, warehouse space, vacant land, and approximately 17,600 SF of existing building area. The property also includes income-producing components, including a long-term cell tower lease extending through 2049 with annual rent increases, and an existing gymnastics center tenant providing in-place cash flow through September 2026.
The site is located along Chancey Road with strong road frontage and multiple access points. It is described as being just minutes from US-301 and Downtown Zephyrhills, with convenient access to Wesley Chapel, Downtown Tampa and Ybor City, Tampa International Airport, and Orlando.
Zoning is identified as a blend of A-R (Agricultural Residential) and C-2 (General Commercial), supporting a range of potential redevelopment approaches. The property is also noted as being within the East Pasco Economic Development Zone.
The site is located along Chancey Road with strong road frontage and multiple access points. It is described as being just minutes from US-301 and Downtown Zephyrhills, with convenient access to Wesley Chapel, Downtown Tampa and Ybor City, Tampa International Airport, and Orlando.
Zoning is identified as a blend of A-R (Agricultural Residential) and C-2 (General Commercial), supporting a range of potential redevelopment approaches. The property is also noted as being within the East Pasco Economic Development Zone.
Key Highlights
- 12.64± acre mixed‑use assemblage with A‑R (Agricultural Residential) and C‑2 (General Commercial) zoning
- Includes approximately 17,600 SF of existing building area plus residential structures, warehouse space, and vacant land
- Income‑producing cell tower lease in place through 2049 with annual rent increases
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
$171,479
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
3.81%
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%
$3,429,580
$3.4M
Cap Rate 7%
$2,449,700
$2.4M
Cap Rate 9%
$1,905,322
$1.9M
Market Conditions
NOI Build-Up for 17,600 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
$220.0K $12.50/SF
− Vacancy
−$18.3K −$1.04/SF
EGI
$201.7K $11.46/SF
− OpEx
−$30.3K −$1.72/SF
NOI
$171.5K $9.74/SF
Area
Pasco County, FL
Vacancy
8.30%
Lease Rate
$12.50 /SF/Yr
Expense Ratio
15.00%
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%
$3,429,580
Cap Rate 7%
$2,449,700
Cap Rate 9%
$1,905,322
Alternative Uses
Best Use
Warehouse
$2.45M
$2.14M – $2.86M
NOI $171,479 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,643 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 33541, FL
22,692
Population
14,159
Households
1.6
Avg Household Size
56
Median Age
19%
College-Educated
90%
High-School Grad
23.8 sq mi
ZIP Area
953
Density / Sq Mi
$55,556
Median Household Income
$38,639
Median Earnings
$1,243
Median Rent
$111,300
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Commercial land - Mixed zoning includes A-R and C-2 with existing residential and warehouse structures plus a long-term cell tower lease.
Where is this commercial land located?
The property is located at 37150 Chancey Road ZEPHYRHILLS Zephyrhills, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 12.64± acre mixed‑use assemblage with A‑R (Agricultural Residential) and C‑2 (General Commercial) zoning; Includes approximately 17,600 SF of existing building area plus residential structures, warehouse space, and vacant land; Income‑producing cell tower lease in place through 2049 with annual rent increases
