Two-Story Office Building with
For Sale
$1,100,000
7044 COMMERCIAL Way, Weeki Wachee, FL 34613
Commercial Sale, WEEKI WACHEE, FL
Property Size3,984 SF
Lot Size0.60 Acres
Price / SF$305.56
Days on Market585
Property Features for 7044 COMMERCIAL Way
General Information
Property type
Commercial Sale
Property subtype
Office
Appliances
Refrigerator
Subdivision
COMMERCIAL HIGHLANDS US 19
Directions
From US 19 and Cortez Blvd, go north on US 19. Building is on the right. Look for the only 2-story building.
Standard status
Active
APN
R35-222-17-1564-0000-A370
Size
3,600 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COMMERCIAL HIGHLANDS US 19 UNREC LOTS A-37 & A-38
Tax Annual Amount
7917
Legal Description
COMMERCIAL HIGHLANDS US 19 UNREC LOTS A-37 & A-38
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2008
Floors in Building
2
Building materials
Concrete
Listing Agency:
HOME LAND REAL ESTATE INC
(352) 556-0909
Listed By:
Kimberly Pye, PA · License #3315876
(352) 279-1150
Added: Feb 7, 2025
Changed: Aug 24
Last Checked: Sep 15 at 5:06AM
MLS# W7872158
Copyright © 2026 Stellar MLS. 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.
This two-story office building sits on 0.6 acres and was constructed in 2008. The interior includes a lobby and waiting area, more than five exam rooms, several larger rooms, private offices, a conference room, kitchen, storage areas, two staircases, and an elevator. Three bathrooms are provided, including one full bathroom with a shower. The property is ADA compliant and equipped with a fire sprinkler system.
Located at 7044 Commercial Way in Weeki Wachee, the building fronts US 19 near Hwy 50/Cortez Blvd. Reported AADT is 25,700. The site includes a large marquee sign, nine parking spaces, public water, and a septic tank. Zoning is PDP(GC), and the property is designated as being outside the flood zone in X Zone. Central heating and central air conditioning serve the building.
Located at 7044 Commercial Way in Weeki Wachee, the building fronts US 19 near Hwy 50/Cortez Blvd. Reported AADT is 25,700. The site includes a large marquee sign, nine parking spaces, public water, and a septic tank. Zoning is PDP(GC), and the property is designated as being outside the flood zone in X Zone. Central heating and central air conditioning serve the building.
Key Highlights
- Two‑story office building with elevator, two staircases, and ADA‑compliant design
- 0.6‑acre site with 9 parking spaces and additional rear parking area
- More than 5 exam rooms, multiple offices, large rooms, and conference space
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
$33,204
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
3.02%
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%
$664,080
$664.1K
Cap Rate 7%
$474,343
$474.3K
Cap Rate 9%
$368,933
$368.9K
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
$60.5K $16.80/SF
− Vacancy
−$5.1K −$1.43/SF
EGI
$55.3K $15.37/SF
− OpEx
−$22.1K −$6.15/SF
NOI
$33.2K $9.22/SF
Area
Hernando County, FL
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
40.00%
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%
$664,080
Cap Rate 7%
$474,343
Cap Rate 9%
$368,933
Alternative Uses
Best Use
Healthcare Medical
$474.3K
$415.1K – $553.4K
NOI $33,204 @ 7.0% cap · market cap 3.02%
Second Best
Office B
$347.1K
$303.7K – $404.9K
NOI $24,294 @ 7.0% cap · market cap 2.21%
Theoretical Best
Office A
$820.1K
$717.6K – $956.7K
NOI $57,404 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Configured with exam rooms, offices, conference space, storage, and bathrooms.
Where is this office building located?
The property is located at 7044 COMMERCIAL Way Weeki Wachee, 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 with elevator, two staircases, and ADA‑compliant design; 0.6‑acre site with 9 parking spaces and additional rear parking area; More than 5 exam rooms, multiple offices, large rooms, and conference space
