Fully Leased Medical Office
8588 Starkey Road, Seminole, FL 33777
Fully leased medical office building in central South Pinellas.
Type:Office
Property size:
7,664 SFPrice / SF:
$287/SF- Added:
- Apr 15, 2024
- Days on Market:
- 777
- Last Refresh:
- May 13 at 8:09 pm
Property Features for 8588 Starkey Road
General Information
- Standard status
- Active
- Size
- 7,664 SF
- Property subtype
- Office
Building Details
- Year Built
- 1987
Listing agent TOM Bible
Listing office VIP EXECUTIVE REALTY LLC (813) 475-6019
Listing date Apr 15, 2024
Source Xome
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 VIP EXECUTIVE REALTY LLC
HighLights
- Fully leased medical office building providing immediate income.
- Stable tenants include LabCorp and Orthodontist Specialist of Florida.
- Central South Pinellas location, easily accessible.
- Opportunity for future owner occupancy as leases expire.
- Below replacement cost acquisition.
- Central air conditioning and 3 guest facilities.
Overview
This fully leased medical office investment property is located in the center of South Pinellas, a few blocks from Park Blvd., between US Hwy 19 and the beaches, providing convenient access from all of South Pinellas. The property is currently occupied by stable tenants, including LabCorp, Orthodontist Specialist of Florida, Life Adventures Counseling, and We Buy Houses, offering a steady return on investment. The building has a total size of 7664 square feet. This property is suitable for a practitioner seeking to establish a presence in the market below replacement cost, with the option to occupy the space as the leases expire while benefiting from an interim income stream.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $199.6k | $26.04 |
| − Vacancy | −$40.9k | −$5.34 |
| EGI | $158.7k | $20.70 |
| − OpEx | −$39.7k | −$5.18 |
| NOI | $119.0k | $15.53 |
7,664 SF · lease $26.04/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.98M
NOI $118,994 @ 7.0% cap · market cap 5.41%
Second Best
Healthcare Medical
$1.01M
$883.6K – $1.18M
NOI $70,687 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.99M
$1.74M – $2.33M
NOI $139,543 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Location Insight
- Map
- Local Demand
- City
- Seminole
- County
- Pinellas
- State
- Florida
- Longitude
- -82.7628605
- Latitude
- 27.8500012
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Fully leased medical office building in central South Pinellas.
Where is this medical office space located?
The property is located at 8588 Starkey Road Seminole, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Fully leased medical office building providing immediate income.; Stable tenants include LabCorp and Orthodontist Specialist of Florida.; Central South Pinellas location, easily accessible.
