Investment Overview

Marcus & Millichap is pleased to present for sale this Raymond James Office Park located at 2401 West Bay Drive in Large, Florida. This offering consists of six office buildings comprised of a total of 50,807 square feet on a large 4.2-acre parcel with over 450 feet of frontage along West Bay Drive. The offering allows for a new investor to acquire a 99 percent occupied Office Complex with tremendous opportunity to greatly improve the income stream by converting all the short-term, Gross Leases to Net Leases by passing through the CAM, Taxes and Insurance. The leases are currently at an average of $14SF. By keeping the leases at the current rental amount and simply passing the operating expenses through to the tenants can potentially add close to 40 percent greater Net Operating Income. Largo is the third largest city in Pinellas County, Florida as well as the fourth largest city in the Tampa Bay Area with a population of 82,485. Top employers in the Largo Area include HCA Hospital (455 Beds), Tech Data, Largo Medical Center, Florida Suncoast Hospice, SCC Soft Computer, Inc., City of Largo, Palms of Largo and Publix Super Markets, Inc. Numerous apartment complexes surround this Raymond James Office Park including 158 Ridge Luxury Apartment Homes, Grand Oak Apartments, The Rosery Apartments, Bayside Court Apartments, Fountains of Largo, Oak Ridge Apartments, Brittany Bay Apartments, Whispering Palms, The Boulevard and Waterchase Apartments.