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Palms Professional Bldg 2700 E Bay Dr 19,811 SF 85% Leased Office Building Largo, FL 33771 $3,850,000 ($194.34/SF) 6.90% Cap Rate
Investment Highlights
- Corner-site visibility along a major corridor with approximately 60,000 daily drivers.
- Ample on-site parking with 72 spaces in a non-flood zone. [2700 east bay dr | PDF]
- New TPO roof installed in 2021 with multiple newer HVAC systems.
Executive Summary
20,000 SQ FT MOL MEDICAL/OFFICE BUILDING FOR SALE. Great opportunity to purchase a two story block building on busy East Bay Dr., or State Road 686, with a high traffic count - newer roof and air conditioners - corner location with a 200 x 200 foot lot, and 74 parking spaces - excellent tenants in place, but lots of upside once current vacancies are filled - complete rent roll and income/expense details available with an executed Confidentiality Agreement.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
19,811 SF
Building Class
B
Year Built/Renovated
1975/1996
Price
$3,850,000
Price Per SF
$194.34
Cap Rate
6.90%
NOI
$265,650
Percent Leased
85%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
9,905 SF
Slab To Slab
12’
Building FAR
0.49
Lot Size
0.92 AC
Zoning
C-1 - commercial
Parking
75 Spaces (4 Spaces per 1,000 SF Leased)
Amenities
- Property Manager on Site
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Fl-Ste 103
- 549 SF
- Office
- Full Build-Out
- Now
- 1st Fl-Ste 107-109
- 2,519 SF
- Office
- Shell Space
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 103 | 549 SF | Office | Full Build-Out | Now |
| 1st Fl-Ste 107-109 | 2,519 SF | Office | Shell Space | Now |
1st Fl-Ste 103
| Size |
| 549 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 107-109
| Size |
| 2,519 SF |
| Space Use |
| Office |
| Condition |
| Shell Space |
| Available |
| Now |
Walk Score®
Very Walkable (71)
Property Taxes
| Parcel Number | 36-29-15-00000-230-0700 | Improvements Assessment | $1,314,344 |
| Land Assessment | $595,656 | Total Assessment | $1,910,000 |
Property Taxes
Parcel Number
36-29-15-00000-230-0700
Land Assessment
$595,656
Improvements Assessment
$1,314,344
Total Assessment
$1,910,000
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Palms Professional Bldg | 2700 E Bay Dr
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