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    300 Bay Dr Largo, FL 33770
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    300 Bay Dr, Largo, FL 33770

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    • Medical Office Space
    • 33,287 SF
    • 2.52 lot acres
    For Lease
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    FL, Largo - East Bay Dr For Lease
    Contact for pricing

    FL, Largo - East Bay Dr

    Workspaces, services and support to help you work better in WI, Oshkosh - Ohio St

    300 Bay Dr, Largo, FL 33770
    View Listing
    Property ID
    US19-0327011
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Blackhawk Staffing / Employment Agency
    • Lifebridge Church / Church
    • Church / Church
    • Christian International Heal / Church / Mosque

    Property Details for 300 Bay Dr

    Year built
    1990
    Lot size
    2.52 lot acres
    Property type
    Medical Office Space
    Property subtype
    Coworking space

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 24, 2024 $5,000,000 Mj Village Of Largo LLC Arlis Construction U S A LLC Warranty Deed $4.3M · Arlis Construction USA LLC
    Sep 29, 2017 $2,400,000 Arlis Construction USA LLC Christian Intl Clg LLC Grant Deed $1M · Christian Int'l Clg LLC

    Description

    MJ Village, located at 300 East Bay Drive in Largo, Florida, 33770, offers a diverse range of commercial spaces for lease. This newly renovated (2024) property boasts 33,287 square feet across two, two-story buildings situated on 2.52 acres of land. The property features a total of 166 parking spaces and elevators for convenient access. Units are available in sizes ranging from a minimum of 1,500 square feet up to the entire building(s), catering to various business needs, from small offices to larger enterprises. The property underwent a complete exterior renovation, including a new roof, modern facade, fresh paint, enhanced landscaping, updated lighting, and a resurfaced parking lot. Located in the vibrant Downtown Largo Corridor, this prime location enjoys high visibility with over 50,000 vehicles passing daily. The property is zoned for flexible use, accommodating retail, office, medical, and restaurant tenants. First-floor spaces are available at $25 per square foot base rent plus $6.15 per square foot in common area maintenance (CAM) charges. Second-floor spaces are available at $22 per square foot base rent plus $6.15 per square foot in CAM charges. Lease terms are negotiable. The property's building class is C, and it was originally built in 1990. The property is easily accessible from Missouri Ave N. Seven spaces are currently available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Largo
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7849668
    Latitude
    27.9172012

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    Similar Nearby for Lease

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      300 Bay Dr, Largo, FL 33770
      View Details
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      Largo Professional/Medical Office Space

      Move-in ready office space suitable for medical, professional, or retail.
      1033 W Bay Dr, Largo, FL 33770
      View Details
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      Move-in Ready Office Space Available

      3,000 SF professional or medical office space in Largo, Florida.
      1033 W Bay Dr, Largo, FL 33770
      View Details
    • Contact for pricing

      Belleair Bluffs Freestanding Building

      Prominent building suitable for office or medical use.
      575 Indian Rocks Rd N, Belleair Bluffs, FL 33770
      View Details
    View Listing
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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.

    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.

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