Two-Unit Office
For Sale
$625,000
8344 Forest Oaks Boulevard, Spring Hill, FL 34606
Fully leased two-suite office building with separate electrical meters and security systems in a deed-restricted office park.
Property Size3,000 SF
Price / SF$208.33
Days on Market279
Property Features for 8344 Forest Oaks Boulevard
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office
Occupancy
100%
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$5,869
Amenities
security system
Central Air
3
Metal
17 Parking Spaces. Unassigned.
Zero Lot Line.
Building Details
Year Built
2007
Construction
concrete block and stucco
Tenancy
Multi
Listing Agency:
Buckner Real Estate, Inc.
(352) 796-4544
Listed By:
Charles Buckner · License #SL3459089
(352) 796-4544
Source:
Xome
Added: Nov 17, 2025
Changed: Aug 23
Last Checked: Aug 23 at 6:17AM
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 Buckner Real Estate, Inc.
Investment Insights
Based on property information with market context.
This two-unit office building totals 3,000 SF and is fully leased. The property is well maintained and features concrete block and stucco construction with a metal roof. It is divided evenly into two 1,500 SF suites, and each suite operates under a modified gross lease structure.
Both suites are separately metered for electricity and equipped with security systems. The building is located within a deed-restricted office park governed by a Property Owners Association (POA), with investment details available in the listing brochure and 3D virtual tours provided for each unit. Additional information is available upon request.
Both suites are separately metered for electricity and equipped with security systems. The building is located within a deed-restricted office park governed by a Property Owners Association (POA), with investment details available in the listing brochure and 3D virtual tours provided for each unit. Additional information is available upon request.
Key Highlights
- 3,000 SF office building that is fully leased and well‑maintained
- Divided into two 1,500 SF units in a deed‑restricted office park
- Each suite has a modified gross lease and is separately metered for electricity
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
$43,999
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
7.04%
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%
$879,980
$880.0K
Cap Rate 7%
$628,557
$628.6K
Cap Rate 9%
$488,878
$488.9K
Market Conditions
NOI Build-Up for 3,000 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
$75.6K $25.20/SF
− Vacancy
−$16.9K −$5.64/SF
EGI
$58.7K $19.56/SF
− OpEx
−$14.7K −$4.89/SF
NOI
$44.0K $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%
$879,980
Cap Rate 7%
$628,557
Cap Rate 9%
$488,878
Alternative Uses
Best Use
Office B
$628.6K
$550.0K – $733.3K
NOI $43,999 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$959.2K
$839.3K – $1.12M
NOI $67,141 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 34606, FL
28,548
Population
14,009
Households
2
Avg Household Size
53
Median Age
20%
College-Educated
89%
High-School Grad
11.6 sq mi
ZIP Area
2,461
Density / Sq Mi
$54,730
Median Household Income
$33,778
Median Earnings
$1,192
Median Rent
$227,700
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 units - Fully leased two-suite office building with separate electrical meters and security systems in a deed-restricted office park.
Where is this office units located?
The property is located at 8344 Forest Oaks Boulevard Spring Hill, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,000 SF office building that is fully leased and well‑maintained; Divided into two 1,500 SF units in a deed‑restricted office park; Each suite has a modified gross lease and is separately metered for electricity
