Three-Unit Corner Office
For Sale
$995,000
405 2ND STREET S, Safety Harbor, FL 34695
Multiple suites, on-site parking, and MSM zoning support a range of office configurations.
Property Size2,660 SF
Lot Size0.16 Acres
Price / SF$374.06
Days on Market9
Property Features for 405 2ND STREET S
General Information
Standard status
Active
Size
2,660 SF
Total Parking Spaces
7
Lot size
0.16 Acres
Property subtype
Office
Zoning
MSM
Additional Details
Office Units
3
Tenant in Place
Yes
Property Use
Office
Building Details
Year Built
1984
Buildings
1
Building Size
2,660 SF
Tenancy
Multi
Listing Agency:
SERHANT
(646) 480-7665
Listed By:
Dustin Anderson · License #3305270
(813) 808-6400
Source:
Dennisrealty
Added: Oct 28
Changed: Nov 3
Last Checked: Nov 4 at 4:09PM
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 SERHANT
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Investment Insights
Based on property information with market context.
Built in 1984, this office property contains three units of approximately 840 SF each. The building measures 2,520 SF heated and 2,660 SF gross on a 7,004 SF corner lot. Two units are occupied month-to-month, while the third is vacant. Seven on-site parking spaces serve the property, with public street parking in front.
At 405 2nd Street S in Safety Harbor, the property is one block from Main Street and near its restaurants, shops, and the waterfront. MSM (Main Street Marketplace) zoning specifies a maximum FAR of 1.00, or approximately 7,000 SF of buildable area, and a height limit of 35 feet or three stories. Additional height may be considered through the city’s design review process. Zoning, permitted uses, and development potential should be verified with the City of Safety Harbor.
At 405 2nd Street S in Safety Harbor, the property is one block from Main Street and near its restaurants, shops, and the waterfront. MSM (Main Street Marketplace) zoning specifies a maximum FAR of 1.00, or approximately 7,000 SF of buildable area, and a height limit of 35 feet or three stories. Additional height may be considered through the city’s design review process. Zoning, permitted uses, and development potential should be verified with the City of Safety Harbor.
Key Highlights
- 7,004 SF corner lot with MSM (Main Street Marketplace) zoning
- 2,520 SF heated office building; 2,660 SF gross
- Three units of approximately 840 SF each; two occupied month‑to‑month and one vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,300
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$826,000
$826.0K
Cap Rate 7%
$590,000
$590.0K
Cap Rate 9%
$458,889
$458.9K
Market Conditions
NOI Build-Up for 2,660 SF
Gross rent
$69.3K $26.04/SF
− Vacancy
−$14.2K −$5.34/SF
EGI
$55.1K $20.70/SF
− OpEx
−$13.8K −$5.18/SF
NOI
$41.3K $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 Rate 5%
$826,000
Cap Rate 7%
$590,000
Cap Rate 9%
$458,889
Alternative Uses
Best Use
Office B
$590.0K
$516.3K – $688.3K
NOI $41,300 @ 7.0% cap · market cap 4.15%
Second Best
Mixed Use
$472.0K
$413.0K – $550.6K
NOI $33,037 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$691.9K
$605.4K – $807.2K
NOI $48,432 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
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Business Placement
Demographics for 34695, FL
17,927
Population
8,025
Households
2.2
Avg Household Size
52
Median Age
46%
College-Educated
96%
High-School Grad
5.6 sq mi
ZIP Area
3,201
Density / Sq Mi
$96,138
Median Household Income
$53,436
Median Earnings
$1,680
Median Rent
$418,200
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Multiple suites, on-site parking, and MSM zoning support a range of office configurations.
Where is this office building located?
The property is located at 405 2ND STREET S Safety Harbor, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 7,004 SF corner lot with MSM (Main Street Marketplace) zoning; 2,520 SF heated office building; 2,660 SF gross; Three units of approximately 840 SF each; two occupied month‑to‑month and one vacant
