Remodeled Four-Bay Flex
For Sale
$1,250,000
6692 119th Ave, Largo, FL 33773
Industrial flex property combining warehouse functionality with newly renovated office areas and adaptable commercial use potential.
Property Size3,440 SF
Days on Market194
Property Features for 6692 119th Ave
General Information
Standard status
Active
Size
3,440 SF
Property subtype
Industrial
Amenities
four bay doors
two garages
new office space
Building Details
Building Size
3,440 SF
Year Built
1990
Properties For Sale
at 6692 119th Ave Contact us- Size
- 1,600 SF
- Lease Type
- NNN
Garage A
Listing Agency:
eXp Commercial | Florida
(813) 894-1516
Listed By:
Kevin Flanagan · License #SL3556641
(813) 894-1516
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 9:51AM
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 eXp Commercial | Florida
Investment Insights
Based on property information with market context.
This industrial flex property combines warehouse space with recently renovated office improvements. The configuration includes four bay doors for loading access, two dedicated garages, and new office areas that support administrative functions alongside operational space. The building was constructed in 1990 and includes parking for employees and visitors.
The property’s zoning permits a range of industrial and commercial uses, providing flexibility for an owner-user or business requiring both workspace and office functionality. Its Largo setting offers access to nearby restaurants, shops, and major transportation routes.
The property’s zoning permits a range of industrial and commercial uses, providing flexibility for an owner-user or business requiring both workspace and office functionality. Its Largo setting offers access to nearby restaurants, shops, and major transportation routes.
Key Highlights
- Four bay doors provide direct loading and unloading access
- Two dedicated garages offer additional storage, maintenance, or workshop space
- Recently remodeled property with new office areas
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
$53,411
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
4.27%
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%
$1,068,220
$1.1M
Cap Rate 7%
$763,014
$763.0K
Cap Rate 9%
$593,456
$593.5K
Market Conditions
NOI Build-Up for 3,440 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
$89.6K $26.04/SF
− Vacancy
−$18.4K −$5.34/SF
EGI
$71.2K $20.70/SF
− OpEx
−$17.8K −$5.18/SF
NOI
$53.4K $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%
$1,068,220
Cap Rate 7%
$763,014
Cap Rate 9%
$593,456
Alternative Uses
Best Use
Office B
$763.0K
$667.6K – $890.2K
NOI $53,411 @ 7.0% cap · market cap 4.27%
Second Best
Flex RnD
$444.6K
$389.0K – $518.7K
NOI $31,122 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$894.8K
$782.9K – $1.04M
NOI $62,634 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33773, FL
17,494
Population
8,353
Households
2.1
Avg Household Size
48
Median Age
31%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
3,430
Density / Sq Mi
$74,115
Median Household Income
$46,759
Median Earnings
$1,567
Median Rent
$280,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sweet Crime Inc — 10707 66th st n #1, pinellas park, fl 33782
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property combining warehouse functionality with newly renovated office areas and adaptable commercial use potential.
Where is this flex space located?
The property is located at 6692 119th Ave Largo, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Four bay doors provide direct loading and unloading access; Two dedicated garages offer additional storage, maintenance, or workshop space; Recently remodeled property with new office areas
