Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23552 State Rd 54 Lutz, FL 33559-6753

    • Medical Office Space
    • 1,990 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Apr 08, 2020
    $239,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2380694
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical Office Space

    Property Details for 23552 State Rd 54

    Year built
    2005
    Lot size
    0.05 lot acres
    Property size
    1,990 SF
    Zone code
    00C2
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    32-26-19-0000-00500-0060
    APU
    3226190000005000060

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lutz
    County
    Pasco
    State
    Florida
    Longitude
    -82.4265
    Latitude
    28.1848
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,879
    $137,430
    $86,835
    $224,265
    -
    $137,430
    $86,835
    $224,265

    Comparable in this City

    • Value Estimation by Request
      1,986 SF

      23526 State Rd 54

      MEDICAL BUILDING • 1,986 SF
      23526 State Rd 54, Lutz, FL 33559-6753
      View Details
    • Value Estimation by Request
      2,592 SF

      24814 State Rd 54

      MEDICAL BUILDING • 2,592 SF
      24814 State Rd 54, Lutz, FL 33559-6252
      View Details
    • Value Estimation by Request
      3,000 SF

      24754 State Rd 54

      MEDICAL BUILDING • 3,000 SF
      24754 State Rd 54, Lutz, FL 33559-6226
      View Details
    • Value Estimation by Request
      2,070 SF

      24152 State Rd 54

      MEDICAL BUILDING • 2,070 SF
      24152 State Rd 54, Lutz, FL 33559-6754
      View Details
    • Value Estimation by Request
      2,875 SF

      3511 County Line E Rd

      MEDICAL BUILDING • 2,875 SF
      3511 County Line E Rd, Lutz, FL 33559-3384
      View Details
    • Value Estimation
      $780,000
      6,984 SF

      24170 State Rd 54

      MEDICAL BUILDING • 6,984 SF
      24170 State Rd 54, Lutz, FL 33559-6700
      View Details

    Similar Nearby for Sale

    • $175,000
      1,311 SF

      Lutz Duplex with 2018 Roof

      Investor special: duplex in Lutz/Wesley Chapel corridor, tenant occupied.
      4965 Steel Dust Ln, Lutz, FL 33559
      View Details
    • $500,000
      1.28 Acres

      Residential Land in Gated Community

      Exclusive gated community lot, build your dream home!
      2811 Coastal Range Way, Lutz, FL 33559
      View Details
    • $6,500,000

      Prime Commercial Land Opportunity

      36.33+/- acres of commercial land in a flourishing area.
      Sr 54, Lutz, FL 33559
      View Details
    • $950,000

      Lutz Land Opportunity

      Land available in Lutz, Florida.
      3633 Panther Path Rd, Lutz, FL 33559
      View Details
    • Contact for pricing

      Prime Commercial Land Available

      Commercial land for sale in a high-traffic retail area.
      54 & Wesley Chapel Blvd, Lutz, FL 33559
      View Details
    • $6,500,000
      36.33 Acres

      Lutz Commercial Land - 36 Acres

      Prime C-3 zoned land, ideal for development.
      0 Sr 54, Lutz, FL 33559
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      14,140 SF

      Lexington Oaks Medical Office Space

      Prime Wesley Chapel medical office suites.
      26871 Wesley Chapel Blvd, Lutz, FL 33559
      View Details
    • New
      $25 SF/Yr
      7,500 SF

      Lutz Flex/Office Suite For Rent

      Commercial flex/office suite near SR 54 and I-75.
      1927 Passero Ave, Lutz, FL 33559
      View Details
    • Contact for pricing
      29,695 SF

      Eagle Plaza Retail Center

      High-traffic Lutz retail space available
      24400 State Road 54, Lutz, FL 33559
      View Details
    • Contact for pricing

      Land Opportunities in Lutz, FL

      Land available in high-growth Wesley Chapel corridor.
      2908 Grand Cypress Dr, Lutz, FL 33559
      View Details
    • Contact for pricing

      Retail Space on State Road

      Neighborhood shopping center with high traffic and retail opportunities.
      23532 Florida 54, Land O' Lakes, FL 33559
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23552 State Rd 54
    Lutz, FL 33559-6753
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!