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    Eric Odum, Tampa, FL

    License ID: CQ1033005
    Roi Commercial Property Broker
    Association
    Pinellas Suncoast Association Of Realtors Inc

    Service Locations

    Contact details

    Phone:
    (813) 514-1070
    Office Address:
    301 W Platt St, Tampa, FL, 33606

    Performance

    Listings
    16

    Listings

    For Sale (11)

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    • $1,000,000
      1.74 Acres

      Temple Terrace Commercial Land

      1.74 Acres, High Traffic Area
      8447 56Th St, Tampa, FL 33617
      View Details
    • $1,445,000

      Prime Retail Opportunity in Temple Terrace

      Retail development opportunity with high visibility and traffic volume.
      8901 N 56Th St, Tampa, FL 33617
      View Details
    • $3,500,000

      Land O Lakes Commercial Land

      Commercial land with high visibility and versatile usage options.
      3034 Collier Pkwy, Land O Lakes, FL 34639
      View Details
    • $2,500,000

      Zephyrhills Commercial Office Land

      Prime commercial land in Zephyrhills, FL, with office zoning.
      Daughtery Rd & Dairy Rd, Zephyrhills, FL
      View Details
    • $980,000
      8,760 SF

      Oldsmar Industrial/Self Storage Opportunity

      8,760 SF industrial property in Oldsmar, Florida for sale.
      3884 Tampa Rd, Oldsmar, FL 34677
      View Details
    • $1,000,000

      Prime Commercial Land in Tampa

      1.74 acre commercial property with high traffic and development potential.
      8447 N 56Th St, Tampa, FL 33617
      View Details
    • $1,445,000

      Commercial Land in Temple Terrace

      1.75 acres of shovel-ready land near retail corridor.
      8901 N 56Th St, Temple Terrace, FL 33617
      View Details
    • Contact for pricing

      High-Traffic Retail Center on FL-54

      Retail spaces in high-visibility center with recent renovations and improvements.
      7268 St Rd 54, New Port Richey, FL 34653
      View Details
    • $1,000,000

      Prime Commercial Land Opportunity

      1.74 acre commercial property ideal for hotel, restaurant, or retail.
      8447 N 56Th St, Temple Terrace, FL 33617
      View Details
    • $2,500,000

      Zephyrhills Land Investment Opportunity

      Prime land in Zephyrhills, FL, ideal for office development.
      Daughtery Rd & Dairy Rd, Zephyrhills, FL 33540
      View Details
    • $3,500,000

      Prime Commercial Land Opportunity

      6.08 acre commercial parcel near State Road 54.
      Collier Pkwy And Weeks Blvd, Land O' Lakes, FL 34639
      View Details

    For Lease (5)

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    • $14 SF/Yr
      21,136 SF

      7 Springs Plaza: Retail Opportunity

      High-traffic retail center in New Port Richey, FL
      7268 Fl-54, New Port Richey, FL 34653
      View Details
    • $14 SF/Yr
      1,700 SF

      Retail Space on Roosevelt Blvd

      Retail space available for lease on Roosevelt Blvd, Largo, FL.
      2902-2926 Roosevelt Blvd, Largo, FL
      View Details
    • $14 SF/Yr
      1,456 SF

      Retail Space on FL-54

      Retail space in high-traffic center with recent renovations.
      7254-7294 State Road 54, New Port Richey, FL 34653
      View Details
    • $5,800 /Mo
      100 SF

      Professional Office Space Available

      Private office setting with conference space and on-site security.
      412 E Madison St, Tampa, FL 33602
      View Details
    • $3,200 /Mo

      Commercial Land with Highway Frontage

      Prime commercial land with versatile buildings and highway frontage.
      20031 Us Highway 301, Dade City, FL 33523
      View Details

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    Eric Odum, Tampa, FL
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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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    Eric Odum, Tampa, FL
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