Flex Warehouse
For Sale
$1,200,000
640 Brooker Creek Blvd, Oldsmar, FL 34677
Commercial Sale, FL
Property Size5,680 SF
Lot Size0.13 Acres
Price / SF$211.27
Days on Market82
Property Features for 640 Brooker Creek Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
5940 Florida Other
Standard status
Active
APN
132816118660044300
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
BROOKER CREEK NORTH III & IV CONDO BLDG 4, UNIT 430
Legal Description
BROOKER CREEK NORTH III & IV CONDO BLDG 4, UNIT 430
Utilities
Water source
Public
Listing Agency:
Smith Associates, Inc
(305) 975-0880
Listed By:
Erick Padilla · License #3121924
(786) 222-2706
Added: Jun 4
Changed: Aug 19
Last Checked: Aug 24 at 2:06AM
MLS# A12030989
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property offers approximately +/-5,680 SF of flex space with warehouse functionality, presented for lease or sale under an NNN structure. The site is situated on a 0.1304-acre lot, designed to accommodate light warehouse and mixed-use operational needs within a corporate park environment.
Located at 640 Brooker Creek Blvd in FL 34677 (Pinellas County), the offering is identified as part of the Brooker Creek Corporate Park in the Oldsmar/Tampa area. This provides tenants and buyers a managed commercial setting consistent with flex warehouse users seeking a professional address within the broader business park.
For prospective tenants, this configuration can work well for businesses that need room for storage alongside day-to-day workspace, supported by the flex/warehouse designation. For buyers, the asset may appeal to owners looking for a moderate-sized flex warehouse opportunity marketed for both leasing and acquisition. Prospective parties should confirm details of unit configuration and operating parameters during due diligence.
Located at 640 Brooker Creek Blvd in FL 34677 (Pinellas County), the offering is identified as part of the Brooker Creek Corporate Park in the Oldsmar/Tampa area. This provides tenants and buyers a managed commercial setting consistent with flex warehouse users seeking a professional address within the broader business park.
For prospective tenants, this configuration can work well for businesses that need room for storage alongside day-to-day workspace, supported by the flex/warehouse designation. For buyers, the asset may appeal to owners looking for a moderate-sized flex warehouse opportunity marketed for both leasing and acquisition. Prospective parties should confirm details of unit configuration and operating parameters during due diligence.
Key Highlights
- ±5,680 SF flex warehouse available for lease or sale
- Lease rate: $11.95 PSF NNN
- Sale price: $1.2M (about $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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flexible storage and work space is available for lease or sale with NNN pricing in a corporate park setting.
Where is this flex space located?
The property is located at 640 Brooker Creek Blvd 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: ±5,680 SF flex warehouse available for lease or sale; Lease rate: $11.95 PSF NNN; Sale price: $1.2M (about $211 PSF)
