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    13191 Starkey Rd Largo, FL 33773

    Sponsored
    For Sale
    $740,000

    Two adjacent office condos, 3,550 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional investment opportunity presents two adjacent, contiguous office condominiums totaling 3,550 square feet, ideally situated within the well-maintained Crown Point Center in Largo, Florida. Located at 13191 Starkey Road, Units 15 & 16, this corner unit boasts convenient access from both sides of the building and two separate parking lots. The property features a bright and spacious reception area, an open workspace perfect for cubicles, three private offices, a dedicated filing/storage area, a large open production/bullpen area, and additional restrooms and a private breakroom. Unit 15 encompasses 2,080 square feet, while Unit 16 offers 1,470 square feet. Built in 1988, this Class B office building sits on a substantial 195,302 square foot lot (APN: 12-30-15-19-773-000-0150, 12-30-15-19773-000-0160). The asking price is $740,000, with a lease type of NNN. Monthly association dues for both units total $1,500, encompassing roof, exterior, common area maintenance, water, sewer, garbage, and exterior insurance. Crown Point Center is home to a variety of medical and professional offices and offers ample parking. The property's strategic location near the intersection of Starkey Road and Ulmerton Road, close to US-19 and I-275, provides easy access to all Tampa Bay area markets. Currently occupied, please schedule a viewing appointment.

    Property Features for 13191 Starkey Rd

    General Information

    Property type
    Office buildings
    Class
    B

    Building Details

    Year Built
    1988
    Buildings
    1
    Stories
    1

    HighLights

    • Two adjacent, 3,550 SF office condos in Largo, FL's Crown Point Center.
    • Corner unit with convenient access and ample parking.
    • Features reception area, open workspace, three private offices, storage, and breakroom.
    • $740,000 asking price, NNN lease, $1,500/month HOA dues (includes roof, exterior, common area, water, sewer, garbage, and exterior insurance).
    • Excellent location near major roadways, offering easy access to Tampa Bay.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gramlich & Associates Mechanical Engineer Kotlowski Services Store Jewish Federation of Floridas ... Social Services Organization Ann Depoole Social Worker Valdez & Sons Garage ... Garage Door Supplier

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Largo
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7615137
    Latitude
    27.8928366

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    FAQs

    What type of property is this?
    Office building - Two adjacent office condos, 3,550 SF
    Where is this office building located?
    The property is located at 13191 Starkey Rd Largo, FL.
    What is the asking price?
    The asking price for this property is $740,000.
    What are key features of this property?
    This property features: Two adjacent, 3,550 SF office condos in Largo, FL's Crown Point Center.; Corner unit with convenient access and ample parking.; Features reception area, open workspace, three private offices, storage, and breakroom.
    (813) 254-6756
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    13191 Starkey Rd Largo, FL 33773
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    Largo, FL 33773
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    13191 Starkey Rd Largo, FL 33773
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