Professional Office Building For
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5286 Applegate Drive, Spring Hill, FL 34606
3,500± SF office building in Applegate Professional Center.
Property Size3,500 SF
Price / SF$199.71
Days on Market108
Property Features for 5286 Applegate Drive
General Information
Standard status
Active
Size
3,500 SF
Class
B
Total Parking Spaces
9
Property subtype
Retail, Office
Zoning
GHC
Occupancy
100%
Building Details
Year Built
2007
Buildings
8
Tenancy
Single
Listing Agency:
Commercial Asset Partners
Listed By:
Heidi Tuttle-Beisner · License #FL BK608537
(727) 376-4900
Source:
Crexi
Added: May 20
Changed: Aug 31
Last Checked: Aug 31 at 9:21AM
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 Commercial Asset Partners
Investment Insights
Based on property information with market context.
This is a 3,500± SF professional office building located in the Applegate Professional Center, east of US-19 and SR-50, offering accessibility and visibility. The building features an efficient office flow and circulation design, high ceilings, and professional finishes. A tenant is currently in place through 2/28/2027, providing interim income. The property presents an owner-occupant opportunity with anticipated future availability upon tenant relocation. Multiple window-lined perimeter offices create a bright and productive work environment. The design allows for efficient separation into two independent units.
Key Highlights
- Prime location in Applegate Professional Center, east of US‑19 and SR‑50, offering excellent accessibility and visibility.
- 3,500± SF professional office building with efficient office flow and circulation design.
- Existing tenant in place through 2/28/2027, providing interim income.
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
$51,332
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
7.34%
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%
$1,026,640
$1.0M
Cap Rate 7%
$733,314
$733.3K
Cap Rate 9%
$570,356
$570.4K
Market Conditions
NOI Build-Up for 3,500 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
$88.2K $25.20/SF
− Vacancy
−$19.8K −$5.64/SF
EGI
$68.4K $19.56/SF
− OpEx
−$17.1K −$4.89/SF
NOI
$51.3K $14.67/SF
Area
Spring Hill, FL
Vacancy
22.40%
Lease Rate
$25.20 /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%
$1,026,640
Cap Rate 7%
$733,314
Cap Rate 9%
$570,356
Alternative Uses
Best Use
Office B
$733.3K
$641.7K – $855.5K
NOI $51,332 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$979.2K – $1.31M
NOI $78,332 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Explore this area
Business Placement
Demographics for 34606, FL
28,548
Population
14,009
Households
2
Avg Household Size
53
Median Age
20%
College-Educated
89%
High-School Grad
11.6 sq mi
ZIP Area
2,461
Density / Sq Mi
$54,730
Median Household Income
$33,778
Median Earnings
$1,192
Median Rent
$227,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 3,500± SF office building in Applegate Professional Center.
Where is this office building located?
The property is located at 5286 Applegate Drive Spring Hill, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Prime location in Applegate Professional Center, east of US‑19 and SR‑50, offering excellent accessibility and visibility.; 3,500± SF professional office building with efficient office flow and circulation design.; Existing tenant in place through 2/28/2027, providing interim income.
