Two-Story Office Building with
For Sale
Contact for pricing
7044 Commercial Way, Spring Hill, FL 34613
Flexible office layout with medical-office improvements, prominent roadside signage, and ADA-compliant access.
Property Size3,600 SF
Price / SF$305.56
Days on Market117
Property Features for 7044 Commercial Way
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
9
Elevators
Yes
Property subtype
Retail, Office
Zoning
PDP(GC)
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Sprinkler System
Yes
Amenities
lobby with waiting room
kitchen
large conference room
multiple storage rooms
two staircases
ADA Compliant
large signage/marquee
Building Details
Year Built
2008
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Home Land Real Estate Inc
Listed By:
Kimberly Pye · License #FL 3315876
Source:
Crexi
Added: May 7
Changed: Aug 29
Last Checked: Aug 31 at 3:03AM
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 Home Land Real Estate Inc
Investment Insights
Based on property information with market context.
This two-story office building, constructed in 2008, is currently configured as an orthopedic animal clinic. The interior includes a lobby and waiting area, more than five exam rooms, several offices and larger rooms, three bathrooms, a kitchen, conference room, storage areas, two staircases, and an elevator. One bathroom includes a shower, and the upper-level office area may serve as additional office or living space. The property also features a fire sprinkler system and ADA-compliant access.
Positioned on US 19/Commercial Way north of Hwy 50/Cortez Blvd, the building has an AADT of 25,700 and includes a large US 19 marquee sign. The site is 5 minutes from Oak Hill Hospital and approximately 12–15 minutes from the Suncoast Parkway, providing access toward Tampa. Zoning is PDP(GC), and the property is identified as being in FEMA flood zone X.
Nine parking spaces are provided, with the source information indicating that additional parking may be added behind the building. The existing configuration supports a range of office and medical-office applications, including the current clinic format.
Positioned on US 19/Commercial Way north of Hwy 50/Cortez Blvd, the building has an AADT of 25,700 and includes a large US 19 marquee sign. The site is 5 minutes from Oak Hill Hospital and approximately 12–15 minutes from the Suncoast Parkway, providing access toward Tampa. Zoning is PDP(GC), and the property is identified as being in FEMA flood zone X.
Nine parking spaces are provided, with the source information indicating that additional parking may be added behind the building. The existing configuration supports a range of office and medical-office applications, including the current clinic format.
Key Highlights
- Two‑story office building constructed in 2008 with an elevator
- Current layout includes 5+ exam rooms, multiple offices, conference room, kitchen, and storage rooms
- Located on US 19/Commercial Way with AADT of 25,700
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
$52,799
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
4.80%
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%
$1,055,980
$1.1M
Cap Rate 7%
$754,271
$754.3K
Cap Rate 9%
$586,656
$586.7K
Market Conditions
NOI Build-Up for 3,600 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
$90.7K $25.20/SF
− Vacancy
−$20.3K −$5.64/SF
EGI
$70.4K $19.56/SF
− OpEx
−$17.6K −$4.89/SF
NOI
$52.8K $14.67/SF
Area
Spring Hill, FL
Vacancy
22.40%
Lease Rate
$25.20 /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%
$1,055,980
Cap Rate 7%
$754,271
Cap Rate 9%
$586,656
Alternative Uses
Best Use
Office B
$754.3K
$660.0K – $880.0K
NOI $52,799 @ 7.0% cap · market cap 4.80%
Second Best
Healthcare Medical
$662.8K
$580.0K – $773.3K
NOI $46,397 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,570 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Explore this area
Business Placement
Demographics for 34613, FL
18,869
Population
10,532
Households
1.8
Avg Household Size
61
Median Age
21%
College-Educated
92%
High-School Grad
37.2 sq mi
ZIP Area
507
Density / Sq Mi
$56,175
Median Household Income
$36,815
Median Earnings
$1,108
Median Rent
$181,800
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?
Office building - Flexible office layout with medical-office improvements, prominent roadside signage, and ADA-compliant access.
Where is this office building located?
The property is located at 7044 Commercial Way Spring Hill, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two‑story office building constructed in 2008 with an elevator; Current layout includes 5+ exam rooms, multiple offices, conference room, kitchen, and storage rooms; Located on US 19/Commercial Way with AADT of 25,700
