Office Condo with Network Ready
For Sale
Contact for pricing
630 Brooker Creek Blvd., Oldsmar, FL 34677
Move-in ready office condo includes perimeter offices, conference room, open work areas, kitchen, and two restrooms.
Property Size5,582 SF
Price / SF$211.04
Days on Market153
Property Features for 630 Brooker Creek Blvd.
General Information
Standard status
Active
Size
5,582 SF
Class
B
Property subtype
Office
Zoning
M-1 Limited Manufacturing District
Investment Type
Owner/User
Additional Details
Furnished
Yes
Highway Access
Yes
Building Details
Year Built
2004
Buildings
1
Stories
1
Units
2
Listing Agency:
Bridgewater Commercial Real Estate
Listed By:
Kori Billings CCIM · License #BK3311265
(813) 997-3341
Source:
Crexi
Added: Apr 6
Changed: Aug 13
Last Checked: Sep 4 at 10:47PM
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 Bridgewater Commercial Real Estate
Investment Insights
Based on property information with market context.
Pristine office condo offered for purchase within the Brooker Creek Corporate Center. The suite totals 5,582 square feet and is move-in ready with a layout featuring seven perimeter offices, an oversized conference room, two spacious open work areas, a kitchen, and two restrooms. Tinted glass windows along three sides provide natural light throughout, with blinds on every window.
Connectivity is network wired and connectivity ready. Entry is controlled with a key fob system on all entry doors, with access through two central lobby entry doors and additional access from two rear entry doors, including one from the truck court.
Building updates include a new roof installed in March 2022, and HVAC systems servicing the suite were replaced in 2021. Association dues cover water/sewer, trash, exterior maintenance, and building insurance. Pictured furnishings and appliances are available to a buyer.
Connectivity is network wired and connectivity ready. Entry is controlled with a key fob system on all entry doors, with access through two central lobby entry doors and additional access from two rear entry doors, including one from the truck court.
Building updates include a new roof installed in March 2022, and HVAC systems servicing the suite were replaced in 2021. Association dues cover water/sewer, trash, exterior maintenance, and building insurance. Pictured furnishings and appliances are available to a buyer.
Key Highlights
- 5,582 SF office condo in Brooker Creek Corporate Center, built in 2004
- Association dues include water/sewer, trash, exterior maintenance, and building insurance
- Building roof installed March 2022; HVAC systems servicing the suite replaced in 2021
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
$86,668
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
7.36%
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%
$1,733,360
$1.7M
Cap Rate 7%
$1,238,114
$1.2M
Cap Rate 9%
$962,978
$963.0K
Market Conditions
NOI Build-Up for 5,582 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
$145.4K $26.04/SF
− Vacancy
−$29.8K −$5.34/SF
EGI
$115.6K $20.70/SF
− OpEx
−$28.9K −$5.18/SF
NOI
$86.7K $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%
$1,733,360
Cap Rate 7%
$1,238,114
Cap Rate 9%
$962,978
Alternative Uses
Best Use
Office B
$1.24M
$1.08M – $1.44M
NOI $86,668 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,635 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 34677, FL
22,524
Population
10,056
Households
2.2
Avg Household Size
46
Median Age
41%
College-Educated
95%
High-School Grad
12.7 sq mi
ZIP Area
1,774
Density / Sq Mi
$85,389
Median Household Income
$46,404
Median Earnings
$1,484
Median Rent
$352,200
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 units - Move-in ready office condo includes perimeter offices, conference room, open work areas, kitchen, and two restrooms.
Where is this office units located?
The property is located at 630 Brooker Creek Blvd. Oldsmar, FL.
What is the asking price?
The asking price for this property is $1,178,000.
What are key features of this property?
This property features: 5,582 SF office condo in Brooker Creek Corporate Center, built in 2004; Association dues include water/sewer, trash, exterior maintenance, and building insurance; Building roof installed March 2022; HVAC systems servicing the suite replaced in 2021
