Fully Renovated Office
For Sale
$1,749,000
4409 W EL PRADO Boulevard, Tampa, FL 33629
SINGLE_FAMILY - TAMPA, FL
Property Size4,410 SF
Lot Size0.16 Acres
Price / SF$396.60
Days on Market475
Property Features for 4409 W EL PRADO Boulevard
General Information
Property type
Residential
Property subtype
Office
Zoning
RO
Subdivision
BEL MAR UNIT 3
Directions
Use Google Maps / Waze
Standard status
Active
APN
A-32-29-18-3TG-000000-00176.0
Size
4,410 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BEL MAR UNIT NO 3 LOT 176
Tax Annual Amount
12590
Legal Description
BEL MAR UNIT NO 3 LOT 176
Utilities
Cooling system
Central Air
Building Details
Year built
1967
Floors in Building
2
Building materials
Block
Listing Agency:
KELLER WILLIAMS TAMPA CENTRAL · Keller Williams Realty
(813) 865-0700
Listed By:
Brian Hahs · License #3460665
(813) 928-0255
Added: May 1, 2025
Changed: Aug 17
Last Checked: Aug 18 at 3:06AM
MLS# TB8381184
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.
Investment Insights
Based on property information with market context.
Fully renovated office building on a 0.16-acre lot at 4409 W El Prado Boulevard in Tampa. The building is 4,410 square feet and was constructed with block materials, with central air cooling throughout.
The interior offers a versatile mix of private offices, open collaborative workspaces, conference rooms, and welcoming reception areas, designed for multiple professional uses. Ample windows bring in natural light, and the property includes contemporary, updated systems and finishes.
Zoned RO, the building sits on El Prado Boulevard in the South Tampa corridor described as surrounded by residential neighborhoods, dining, and retail. It is presented as a fit for an owner-user looking for a long-term office home or as an acquisition for investors seeking renovated office space in the area.
The interior offers a versatile mix of private offices, open collaborative workspaces, conference rooms, and welcoming reception areas, designed for multiple professional uses. Ample windows bring in natural light, and the property includes contemporary, updated systems and finishes.
Zoned RO, the building sits on El Prado Boulevard in the South Tampa corridor described as surrounded by residential neighborhoods, dining, and retail. It is presented as a fit for an owner-user looking for a long-term office home or as an acquisition for investors seeking renovated office space in the area.
Key Highlights
- 4,410 SF fully renovated office building on a 0.16‑acre lot
- Zoned RO for office use
- Block construction with central air cooling
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
$59,932
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
3.43%
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%
$1,198,640
$1.2M
Cap Rate 7%
$856,171
$856.2K
Cap Rate 9%
$665,911
$665.9K
Market Conditions
NOI Build-Up for 4,410 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
$105.8K $24.00/SF
− Vacancy
−$25.9K −$5.88/SF
EGI
$79.9K $18.12/SF
− OpEx
−$20.0K −$4.53/SF
NOI
$59.9K $13.59/SF
Area
Tampa, FL
Vacancy
24.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,198,640
Cap Rate 7%
$856,171
Cap Rate 9%
$665,911
Alternative Uses
Best Use
Office B
$856.2K
$749.2K – $998.9K
NOI $59,932 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$899.0K – $1.20M
NOI $71,918 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 33629, FL
26,394
Population
11,237
Households
2.3
Avg Household Size
41
Median Age
77%
College-Educated
98%
High-School Grad
4.8 sq mi
ZIP Area
5,499
Density / Sq Mi
$158,337
Median Household Income
$88,821
Median Earnings
$1,758
Median Rent
$764,100
Median Home Value
Market
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Zoned RO office building with central air, private offices, open workspaces, and conference and reception areas.
Where is this office building located?
The property is located at 4409 W EL PRADO Boulevard Tampa, FL.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: 4,410 SF fully renovated office building on a 0.16‑acre lot; Zoned RO for office use; Block construction with central air cooling
