Medical Office Condo
For Sale
$219,000
6-10333 Seminole Blvd, Largo, FL 33770
Office suite includes multiple offices, reception/waiting area, and a small kitchenette within a condo complex.
Property Size1,225 SF
Price / SF$178.78
Days on Market467
Property Features for 6-10333 Seminole Blvd
General Information
Standard status
Active
Size
1,225 SF
Taxes and HOA fees
Annual Taxes
$1,891
Listing Agency:
CENTURY 21 LISTSMART
(727) 222-1198
Listed By:
Faye Walters · License #3274301
(727) 580-3858
Source:
Exprealty
Added: May 30, 2025
Changed: Aug 26
Last Checked: Sep 7 at 1:29PM
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 CENTURY 21 LISTSMART
Investment Insights
Based on property information with market context.
This medical office condo suite is currently configured for professional use and features multiple offices with a reception/waiting area plus a small kitchenette. Furniture is negotiable and may be included. The HVAC system and hot water heater are within the last 3–4 years.
Set within a small complex with mature landscaping and plenty of parking, the property benefits from easy driving access from throughout Pinellas. The public remarks note the property is located in Flood Zone X.
The suite offers a practical, compartmentalized layout for an office setting, supported by relatively recent mechanicals and an HOA that the seller reports includes exterior maintenance/pest control and water and garbage service.
Set within a small complex with mature landscaping and plenty of parking, the property benefits from easy driving access from throughout Pinellas. The public remarks note the property is located in Flood Zone X.
The suite offers a practical, compartmentalized layout for an office setting, supported by relatively recent mechanicals and an HOA that the seller reports includes exterior maintenance/pest control and water and garbage service.
Key Highlights
- Condo currently used as a psychologist office suite with 4/5 offices plus reception/waiting area
- Includes a small kitchenette in the office suite
- HOA fee includes exterior maintenance, pest control, water, and garbage service
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
$19,020
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
8.68%
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%
$380,400
$380.4K
Cap Rate 7%
$271,714
$271.7K
Cap Rate 9%
$211,333
$211.3K
Market Conditions
NOI Build-Up for 1,225 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
$31.9K $26.04/SF
− Vacancy
−$6.5K −$5.34/SF
EGI
$25.4K $20.70/SF
− OpEx
−$6.3K −$5.18/SF
NOI
$19.0K $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 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%
$380,400
Cap Rate 7%
$271,714
Cap Rate 9%
$211,333
Alternative Uses
Best Use
Office B
$271.7K
$237.8K – $317.0K
NOI $19,020 @ 7.0% cap · market cap 8.68%
Second Best
Healthcare Medical
$161.4K
$141.2K – $188.3K
NOI $11,298 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$318.6K
$278.8K – $371.7K
NOI $22,304 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33770, FL
25,475
Population
13,417
Households
1.9
Avg Household Size
50
Median Age
26%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$58,071
Median Household Income
$39,354
Median Earnings
$1,481
Median Rent
$245,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Office suite includes multiple offices, reception/waiting area, and a small kitchenette within a condo complex.
Where is this medical office space located?
The property is located at 6-10333 Seminole Blvd Largo, FL.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Condo currently used as a psychologist office suite with 4/5 offices plus reception/waiting area; Includes a small kitchenette in the office suite; HOA fee includes exterior maintenance, pest control, water, and garbage service
