Flexible Flex Space with Warehouse
New
For Sale
$1,600,000
6581 SEMINOLE, Seminole, FL 33772
CG-zoned commercial building combines offices, workshops, warehouse space, and mezzanine storage in a two-suite configuration.
Property Size4,507 SF
Lot Size0.62 Acres
Price / SF$213.56
Days on Market4
Property Features for 6581 SEMINOLE
General Information
Standard status
Active
Size
4,507 SF
Total Parking Spaces
14
Lot size
0.62 Acres
Property subtype
Industrial
Zoning
CG
Site & Location
Road Access
Yes
Public Transit
Yes
Warehouse & Industrial
Warehouse Space
1,973 SF
Mezzanine
1,012 SF
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$9,377
Building Details
Building Size
4,507 SF
Year Built
1989
Buildings
1
Units
2
Listing Agency:
(727) 453-8220
Listed By:
Dayna Bates · License #3346690
(727) 453-8220
Source:
Elliman
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 16 at 5:41AM
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 Dayna Bates
Investment Insights
Based on property information with market context.
This 7,492-square-foot flex property was built in 1989 on a 0.62-acre parcel and is currently arranged as two suites. The building includes 4,507 square feet of air-conditioned office and workshop area, four separate office/workshop areas, two bathrooms, 1,973 square feet of ground-floor receiving and warehouse space, and 1,012 square feet of mezzanine storage. The layout can be reconfigured into additional suites or other arrangements.
The property is zoned CG (Commercial General) and fronts Seminole Boulevard with 235 feet of frontage and approximately 36,000 vehicles passing per day. Access to the receiving area is available from entrances on both the north and south sides of the building. The site provides 14 on-site parking spaces, including one handicap space, and includes a small rear pond. Walk Score is 61, Bike Score is 51, and Transit Score is 27.
The property is zoned CG (Commercial General) and fronts Seminole Boulevard with 235 feet of frontage and approximately 36,000 vehicles passing per day. Access to the receiving area is available from entrances on both the north and south sides of the building. The site provides 14 on-site parking spaces, including one handicap space, and includes a small rear pond. Walk Score is 61, Bike Score is 51, and Transit Score is 27.
Key Highlights
- 7,492 gross square feet on a 0.62‑acre parcel
- 4,507 air‑conditioned square feet of office and workshop area
- 1,973 square feet of ground‑floor receiving/warehouse space 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
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
344
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, warehouse space, and mezzanine storage in a two-suite configuration.
Where is this flex space located?
The property is located at 6581 SEMINOLE 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 of office and workshop area; 1,973 square feet of ground‑floor receiving/warehouse space plus 1,012 square feet of mezzanine storage
