For Sale
$479,000
3510 N NEBRASKA Avenue, Tampa, FL 33603
Commercial Sale, TAMPA, FL
Property Size2,591 SF
Lot Size0.15 Acres
Price / SF$184.87
Days on Market363
Property Features for 3510 N NEBRASKA Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CI
Subdivision
LA VERGNE SUB
Directions
From I-275 North, take Exit 46B for Martin Luther King Jr. Blvd (US-92). Head east on MLK Jr. Blvd, then turn left onto N Nebraska Ave. Property will be on the right.
Standard status
Active
APN
A-12-29-18-4HU-A00000-00002.0
Size
2,591 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LA VERGNE SUBDIVISION LOT 2 BLOCK A LESS RD R/W
Tax Annual Amount
821
Legal Description
LA VERGNE SUBDIVISION LOT 2 BLOCK A LESS RD R/W
Utilities
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1927
Floors in Building
1
Building materials
Block
Listing Agency:
BHHS FLORIDA PROPERTIES GROUP · Berkshire Hathaway HomeServices
(813) 907-8200
Listed By:
Madlena McAllister · License #3433083
(813) 203-9758
Added: Sep 12, 2025
Changed: Sep 2
Last Checked: Sep 9 at 8:06AM
MLS# TB8427075
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,119
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$562,380
$562.4K
Cap Rate 7%
$401,700
$401.7K
Cap Rate 9%
$312,433
$312.4K
Market Conditions
NOI Build-Up for 2,591 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.0K $21.24/SF
− Vacancy
−$3.9K −$1.51/SF
EGI
$51.1K $19.73/SF
− OpEx
−$23.0K −$8.88/SF
NOI
$28.1K $10.85/SF
Area
Tampa, FL
Vacancy
7.10%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$562,380
Cap Rate 7%
$401,700
Cap Rate 9%
$312,433
Alternative Uses
Best Use
Apartment 5plus
$401.7K
$351.5K – $468.7K
NOI $28,119 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$603.6K
$528.2K – $704.2K
NOI $42,254 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 33603, FL
19,070
Population
9,592
Households
2
Avg Household Size
38
Median Age
39%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,651
Density / Sq Mi
$64,632
Median Household Income
$43,136
Median Earnings
$1,320
Median Rent
$344,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this commercial land located?
The property is located at 3510 N NEBRASKA Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $479,000.
