Flex Warehouse in Corporate
For Sale
$1,200,000
640 Brooker Creek Blvd #430, Oldsmar, FL 34677
Available for lease or sale in the Brooker Creek corporate park, offering space for flexible light industrial use.
Property Size5,680 SF
Price / SF$211.27
Days on Market82
Property Features for 640 Brooker Creek Blvd #430
General Information
Standard status
Active
Size
5,680 SF
Property subtype
Commercial
Listing Agency:
SMITH ASSOCIATES, INC
(786) 222-2706
Listed By:
ERICK PADILLA · License #A12030989
Source:
Corcoran
Added: Jun 4
Changed: Aug 22
Last Checked: Aug 23 at 6:33AM
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 SMITH ASSOCIATES, INC
Investment Insights
Based on property information with market context.
This offering presents a flex warehouse totaling approximately 5,680 square feet, available for lease or sale. The property is marketed as a warehouse-flex configuration suitable for users who need a mix of functional space for operations and storage. Lease terms are presented on an NNN basis.
The asset is located at 640 Brooker Creek Blvd in the Brookers Creek corporate park in the Oldsmar/Tampa area. The listing is positioned as part of a corporate park setting, providing a straightforward option for tenants and buyers looking for an industrial-flex product within that business environment.
For tenants, the flex warehouse format can fit a range of light industrial and distribution-adjacent requirements where operational flexibility is useful. For buyers, the property’s clearly defined flex/warehouse use and NNN lease structure support a practical owner-occupant or investor approach based on the stated leasing parameters. Please note that specific interior features, overhead door count, ceiling height, and loading details are not provided in the available information.
The asset is located at 640 Brooker Creek Blvd in the Brookers Creek corporate park in the Oldsmar/Tampa area. The listing is positioned as part of a corporate park setting, providing a straightforward option for tenants and buyers looking for an industrial-flex product within that business environment.
For tenants, the flex warehouse format can fit a range of light industrial and distribution-adjacent requirements where operational flexibility is useful. For buyers, the property’s clearly defined flex/warehouse use and NNN lease structure support a practical owner-occupant or investor approach based on the stated leasing parameters. Please note that specific interior features, overhead door count, ceiling height, and loading details are not provided in the available information.
Key Highlights
- ±1,680 SF flex warehouse available for lease or sale
- Lease rate: $11.95 PSF NNN
- Sale price: $1.2M (approx. $211 PSF)
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
$51,388
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
4.28%
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%
$1,027,760
$1.0M
Cap Rate 7%
$734,114
$734.1K
Cap Rate 9%
$570,978
$571.0K
Market Conditions
NOI Build-Up for 5,680 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
$83.8K $14.76/SF
− Vacancy
−$4.8K −$0.84/SF
EGI
$79.1K $13.92/SF
− OpEx
−$27.7K −$4.87/SF
NOI
$51.4K $9.05/SF
Area
Pinellas County, FL
Vacancy
5.70%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
35.00%
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%
$1,027,760
Cap Rate 7%
$734,114
Cap Rate 9%
$570,978
Alternative Uses
Best Use
Flex RnD
$734.1K
$642.4K – $856.5K
NOI $51,388 @ 7.0% cap · market cap 4.28%
Second Best
Warehouse
$683.3K
$597.9K – $797.2K
NOI $47,834 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,419 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Available for lease or sale in the Brooker Creek corporate park, offering space for flexible light industrial use.
Where is this flex space located?
The property is located at 640 Brooker Creek Blvd #430 Oldsmar, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: ±1,680 SF flex warehouse available for lease or sale; Lease rate: $11.95 PSF NNN; Sale price: $1.2M (approx. $211 PSF)
