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    Property profile & analytics

    3273 Commercial Way Spring Hill, FL 34606

    • Office buildings
    • 4,750 SF
    • 1.20 lot acres
    For Sale
    View listing
    $1,568,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9251685
    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

    • Office buildings

    Property Details for 3273 Commercial Way

    Year built
    1959
    Lot size
    1.20 lot acres
    Property size
    4,750 SF
    Property type
    Office buildings
    APN
    R16-223-17-3810-0010-0050
    APU
    R1622317381000100050

    Description

    This exceptional 4,750 square foot commercial property, located at 3273 Commercial Way in Spring Hill, Florida (zip code 34606), presents a unique investment opportunity. Situated on a 1.17-acre lot, this single-story building offers high visibility from its prime location on a busy highway. The property features three separate entrances, ideal for multi-tenant occupancy. The layout includes seven offices and four bathrooms, catering to a variety of business needs. One unit is a studio space, another offers a waiting room and three offices, and the largest unit boasts ample space and a roll-up garage door. The property's versatility makes it suitable for various uses, including executive offices, medical offices, and retail spaces. Ample land provides extensive parking. The asking price is $1,568,000, translating to $330.11 per square foot. The seller is open to selling associated practice and equipment for an additional $100,000. This property offers significant potential for growth and return on investment. The unique landmark feature adds to its high visibility and memorability. This is a rare opportunity to acquire a well-positioned commercial property with substantial space and high traffic exposure in a thriving Florida market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $808,000
      Market price range: $257k - $809k
      AI Estimate
      $637,000
      Market price range: $157k - $637k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $535,000
      Current use
      AUTO REPAIR, GARAGE
      $1,135,000
      Change: +112% Conversion: Difficult
      RETAIL STORES
      $705,000
      Change: +31% Conversion: Moderate
      MEDICAL BUILDING
      $640,000
      Change: +20% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring Hill
    County
    Hernando
    State
    Florida
    Longitude
    -82.6119
    Latitude
    28.4786
    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
    2022
    $11,018
    $330,593
    $351,924
    $682,517
    -
    $412,032
    $373,330
    $785,362

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation
      $620,000
      4,464 SF

      2190 Commercial Way

      PROFESSIONAL BUILDING • 4,464 SF
      2190 Commercial Way, Spring Hill, FL 34606-3807
      View Details
    • Value Estimation
      $1,395,000
      15,920 SF

      4026 Commercial Way

      PROFESSIONAL BUILDING • 15,920 SF
      4026 Commercial Way, Spring Hill, FL 34606-2398
      View Details
    • Value Estimation by Request
      870 SF

      5327 Commercial Way, Unit B107

      PROFESSIONAL BUILDING • 870 SF
      5327 Commercial Way, Spring Hill, FL 34606-1499
      View Details
    • Value Estimation by Request
      3,040 SF

      6103 Deltona Blvd

      PROFESSIONAL BUILDING • 3,040 SF
      6103 Deltona Blvd, Spring Hill, FL 34606-1011
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    • Value Estimation by Request
      1,056 SF

      1279 Kass Cir

      PROFESSIONAL BUILDING • 1,056 SF
      1279 Kass Cir, Spring Hill, FL 34606-4308
      View Details

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      Renovated Commercial Building on Highway

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    Similar Nearby for Lease

    • $807 /Mo
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      Commercial Space For Lease

      Commercial space available in high-traffic Spring Hill location.
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    • $807 /Mo
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      SPRING HILL Mixed-Use Property

      Mixed-use property for lease in high-traffic SPRING HILL location.
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    • $9,690 /Mo

      Commercial Way Office Space

      Office space for lease on high-traffic Commercial Way.
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    • $1,000 /Mo
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      Spring Hill Office Space Available

      Office space for lease in high-traffic Spring Hill location.
      4504 Commercial Way, Spring Hill, FL 34606
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    • $12,000 /Mo

      Commercial Space on Commercial Way

      Office space for lease in high-traffic Spring Hill location.
      4504 Commercial Way, Spring Hill, FL 34606
      View Details
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    3273 Commercial Way
    Spring Hill, FL 34606
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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.

    More about this property
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