Flex Space With Warehouse
For Sale
$1,600,000
6581 Seminole Boulevard, Seminole, FL 33772
CG-zoned commercial building combines offices, workshops, receiving space, and mezzanine storage.
Property Size7,492 SF
Lot Size0.62 Acres
Price / SF$213.56
Days on Market73
Property Features for 6581 Seminole Boulevard
General Information
Standard status
Active
Size
7,492 SF
Total Parking Spaces
14
Lot size
0.62 Acres
Property subtype
Business Opportunities
Zoning
CG
Warehouse & Industrial
Warehouse Space
1,973 SF
Mezzanine
1,012 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$9,378
Amenities
Central Air
3
Building Details
Year Built
1989
Buildings
1
Building Size
7,492 SF
Listing Agency:
1 PALM REALTY
(727) 351-2402
Listed By:
Dayna Bates
Source:
Xome
Added: Jun 6
Changed: Aug 16
Last Checked: Aug 17 at 3:39AM
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 1 PALM REALTY
Investment Insights
Based on property information with market context.
This 7,492-square-foot flex property occupies a 0.62-acre parcel and contains 4,507 air-conditioned square feet across four office and workshop areas. The interior is arranged as two suites, with two bathrooms and the ability to reconfigure the space. A 1,973-square-foot ground-floor receiving and warehouse area has entrances on both the north and south sides, complemented by 1,012 square feet of mezzanine storage.
The site fronts Seminole Boulevard for 235 feet and records approximately 36,000 vehicles passing daily. Fourteen on-site parking spaces are provided, including one accessible space. City of Seminole CG zoning applies to the property, and the building was constructed in 1989. The property is located at 6581 Seminole Boulevard, Seminole, FL 33772, with access in all directions.
The site fronts Seminole Boulevard for 235 feet and records approximately 36,000 vehicles passing daily. Fourteen on-site parking spaces are provided, including one accessible space. City of Seminole CG zoning applies to the property, and the building was constructed in 1989. The property is located at 6581 Seminole Boulevard, Seminole, FL 33772, with access in all directions.
Key Highlights
- 7,492 gross square feet on a 0.62‑acre parcel
- 4,507 air‑conditioned square feet with four office/workshop areas
- 1,973‑square‑foot receiving/warehouse area plus 1,012 square feet of mezzanine storage
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
$116,323
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
7.27%
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%
$2,326,460
$2.3M
Cap Rate 7%
$1,661,757
$1.7M
Cap Rate 9%
$1,292,478
$1.3M
Market Conditions
NOI Build-Up for 7,492 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
$195.1K $26.04/SF
− Vacancy
−$40.0K −$5.34/SF
EGI
$155.1K $20.70/SF
− OpEx
−$38.8K −$5.18/SF
NOI
$116.3K $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%
$2,326,460
Cap Rate 7%
$1,661,757
Cap Rate 9%
$1,292,478
Alternative Uses
Best Use
Office B
$1.66M
$1.45M – $1.94M
NOI $116,323 @ 7.0% cap · market cap 7.27%
Second Best
Flex RnD
$968.3K
$847.3K – $1.13M
NOI $67,781 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.95M
$1.71M – $2.27M
NOI $136,411 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,112
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33772, FL
24,121
Population
12,340
Households
2
Avg Household Size
51
Median Age
32%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
4,551
Density / Sq Mi
$74,026
Median Household Income
$46,187
Median Earnings
$1,454
Median Rent
$327,000
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?
Flex space - CG-zoned commercial building combines offices, workshops, receiving space, and mezzanine storage.
Where is this flex space located?
The property is located at 6581 Seminole Boulevard Seminole, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 7,492 gross square feet on a 0.62‑acre parcel; 4,507 air‑conditioned square feet with four office/workshop areas; 1,973‑square‑foot receiving/warehouse area plus 1,012 square feet of mezzanine storage
