Free Standing Office
550 E BAY Dr Largo, FL 33770
For Sale
$790,000
3,212 SF office building on a 0.46-acre corner lot.
Property Size3,212 SF
Lot Size0.46 Acres
Price / SF$245.95
Days on Market95
Property Features for 550 E BAY Dr
General Information
- Standard status
- Active
- Size
- 3,212 SF
- Lot size
- 0.46 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1961
Listing Agency:
Ross Marketing Group LLC
(727) 639-3800
Listed By:
Elliott Ross · License #BK416734
(727) 639-3800
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 26 at 10:14AM
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 Ross Marketing Group LLC
Investment Insights
Based on property information with market context.
This 3,212 square foot free-standing office building is situated on a 0.46-acre corner lot. The property benefits from a highly visible location at the corner of East Bay Drive and 6th Street NE, featuring 165 feet of frontage on East Bay Drive and a 117-foot depth. Formerly the home of a long-established insurance company, the building's layout includes 8 private offices, reception and office areas, a kitchen/break room, and 3 restrooms. Excellent signage and parking are available. A billboard on-site generates income for the property owner. The zoning is CG General Commercial within the City of Largo. The property is near Largo Central Park. The layout is suitable for general office, insurance, mortgage, or real estate offices.
Key Highlights
- Highly visible corner location on East Bay Drive with excellent signage and parking.
- Billboard on site generates income for the property owner.
- 3,212 SF free‑standing office building suitable for various professional office uses.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.6k | $26.04 |
| − Vacancy | −$17.1k | −$5.34 |
| EGI | $66.5k | $20.70 |
| − OpEx | −$16.6k | −$5.18 |
| NOI | $49.9k | $15.53 |
3,212 SF · lease $26.04/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$712.4K
$623.4K – $831.2K
NOI $49,871 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$835.5K
$731.0K – $974.7K
NOI $58,483 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
National General
Discount Store
FAQs
What type of property is this?
Office building - 3,212 SF office building on a 0.46-acre corner lot.
Where is this office building located?
The property is located at 550 E BAY Dr Largo, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Highly visible corner location on East Bay Drive with excellent signage and parking.; Billboard on site generates income for the property owner.; 3,212 SF free‑standing office building suitable for various professional office uses.
