Historic Mixed-Use Building with Two
For Sale
Contact for pricing
Pending
37739 Robinson Ave, Dade City, FL 33523
Brick property combines flexible rooms, a commercial kitchen, and furnished short-term lodging use.
Property Size3,312 SF
Days on Market900
Property Features for 37739 Robinson Ave
General Information
Standard status
Pending
Size
3,312 SF
Class
B
Property subtype
Mixed Use, Multifamily, Office, Special Purpose
Zoning
ROI
Investment Type
Owner/User
Additional Details
Furnished
Yes
Amenities
industrial kitchen
covered porch
entertainment area
Building Details
Year Built
1893
Year Renovated
2023
Buildings
1
Stories
2
Units
2
Construction
brick
Abandoned
No
Listing Agency:
Coastal Brokerage & Investment
Listed By:
Jim OBrien · License #BK3072231
Source:
Crexi
Added: Mar 18, 2024
Changed: Aug 31
Last Checked: Sep 2 at 11:08PM
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 Coastal Brokerage & Investment
Investment Insights
Based on property information with market context.
Built in 1893 as the original Pasco County Jail, this 3,312-square-foot brick property has been substantially renovated while retaining its historic character. Two separate addresses and entryways support flexible use, with six rooms, four full bathrooms, an industrial kitchen, refinished concrete floors, and furnishings for its current Airbnb operation. The layout also accommodates small events and family gatherings.
The property at 37739 Robinson Ave is one block from downtown Dade City, placing coffee shops, restaurants, bars, boutiques, antique stores, salons, the county courthouse, and banks within walking distance. A walking and bike trail runs directly behind the site. Outdoor features include an expansive backyard, covered porch, and entertainment area. The property is zoned ROI and offers a distinctive setting for continued lodging use or a mixed residential and commercial configuration.
The property at 37739 Robinson Ave is one block from downtown Dade City, placing coffee shops, restaurants, bars, boutiques, antique stores, salons, the county courthouse, and banks within walking distance. A walking and bike trail runs directly behind the site. Outdoor features include an expansive backyard, covered porch, and entertainment area. The property is zoned ROI and offers a distinctive setting for continued lodging use or a mixed residential and commercial configuration.
Key Highlights
- 3,312‑square‑foot brick building constructed in 1893
- Historic original Pasco County Jail with two addresses and entryways
- Six rooms, four full bathrooms, industrial kitchen, and refinished concrete floors
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
$41,135
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
3.23%
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%
$822,700
$822.7K
Cap Rate 7%
$587,643
$587.6K
Cap Rate 9%
$457,056
$457.1K
Market Conditions
NOI Build-Up for 3,312 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
$71.5K $21.60/SF
− Vacancy
−$5.7K −$1.73/SF
EGI
$65.8K $19.87/SF
− OpEx
−$24.7K −$7.45/SF
NOI
$41.1K $12.42/SF
Area
Pasco 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 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%
$822,700
Cap Rate 7%
$587,643
Cap Rate 9%
$457,056
Alternative Uses
Best Use
Mixed Use
$587.6K
$514.2K – $685.6K
NOI $41,135 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$435.2K
$380.8K – $507.7K
NOI $30,461 @ 7.0% cap · market cap 2.39%
Theoretical Best
Office A
$754.5K
$660.2K – $880.2K
NOI $52,812 @ 7.0% cap · market cap 4.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
Explore this area
Business Placement
Demographics for 33523, FL
18,540
Population
8,132
Households
2.3
Avg Household Size
42
Median Age
21%
College-Educated
83%
High-School Grad
105.4 sq mi
ZIP Area
176
Density / Sq Mi
$60,897
Median Household Income
$35,283
Median Earnings
$1,020
Median Rent
$231,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick property combines flexible rooms, a commercial kitchen, and furnished short-term lodging use.
Where is this mixed-use property located?
The property is located at 37739 Robinson Ave Dade City, FL.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 3,312‑square‑foot brick building constructed in 1893; Historic original Pasco County Jail with two addresses and entryways; Six rooms, four full bathrooms, industrial kitchen, and refinished concrete floors
