Starkey Health Clinic Medical
For Sale
Contact for pricing
8588 Starkey Rd, Seminole, FL 33777
Medical office building in Seminole, surrounded by healthcare facilities.
Property Size7,760 SF
Price / SF$283.51
Days on Market864
Property Features for 8588 Starkey Rd
General Information
Standard status
Active
Size
7,760 SF
Class
C
Property subtype
Office
Zoning
RM
Occupancy
88%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$63,135
Building Details
Year Built
1987
Year Renovated
2019
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
VIP Executive Realty, LLC
(727) 365-5402
Listed By:
Michelle Bible · License #SL3162316
Source:
Crexi
Added: Apr 10, 2024
Changed: Aug 8
Last Checked: Aug 20 at 9:25PM
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
Investment Insights
Based on property information with market context.
The Starkey Health Clinic Medical Office Building is located at 8588 Starkey Road in Seminole. The property is situated in a healthcare hub, near Northside Hospital, St. Pete General, The VA Center, Largo Medical Center, The Heart & Vascular Institute, and HealthSouth Rehab Hosp. The building is surrounded by two elementary schools, a middle school, a high school, an assisted living facility, three churches, and a variety of dining options. LabCorp, Orthodontist Specialist of Florida and Life Adventures Counseling are tenants. One small 1,000sf space is currently available for lease. The property is suitable for any medical practice or healthcare-related business. The property size is 7760 square feet.
Key Highlights
- Strategically located in a healthcare hub surrounded by six major medical centers.
- Stable tenants like LabCorp and Orthodontist Specialist of Florida provide a comfortable return on investment.
- One 1,000sf space currently available for lease.
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
$120,484
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
5.48%
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%
$2,409,680
$2.4M
Cap Rate 7%
$1,721,200
$1.7M
Cap Rate 9%
$1,338,711
$1.3M
Market Conditions
NOI Build-Up for 7,760 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
$202.1K $26.04/SF
− Vacancy
−$41.4K −$5.34/SF
EGI
$160.6K $20.70/SF
− OpEx
−$40.2K −$5.18/SF
NOI
$120.5K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /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%
$2,409,680
Cap Rate 7%
$1,721,200
Cap Rate 9%
$1,338,711
Alternative Uses
Best Use
Office B
$1.72M
$1.51M – $2.01M
NOI $120,484 @ 7.0% cap · market cap 5.48%
Second Best
Healthcare Medical
$1.02M
$894.7K – $1.19M
NOI $71,572 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$2.02M
$1.77M – $2.35M
NOI $141,291 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33777, FL
17,793
Population
8,375
Households
2.1
Avg Household Size
48
Median Age
38%
College-Educated
95%
High-School Grad
5.5 sq mi
ZIP Area
3,235
Density / Sq Mi
$88,680
Median Household Income
$44,959
Median Earnings
$1,682
Median Rent
$298,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building in Seminole, surrounded by healthcare facilities.
Where is this medical office space located?
The property is located at 8588 Starkey Rd 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: Strategically located in a healthcare hub surrounded by six major medical centers.; Stable tenants like LabCorp and Orthodontist Specialist of Florida provide a comfortable return on investment.; One 1,000sf space currently available for lease.
