Three-Story Office
For Sale
$11,500,000
6801 E HILLSBOROUGH Avenue, Tampa, FL 33610
SINGLE_FAMILY - TAMPA, FL
Property Size79,728 SF
Lot Size5.22 Acres
Price / SF$144.24
Days on Market490
Property Features for 6801 E HILLSBOROUGH Avenue
General Information
Property type
Residential
Property subtype
Office
Parking features
Secured, Underground/Basement
Lot features
Drainage Canal
Directions
E Hillsborough to address on South of Street
Subdivision
33610 - Tampa / East Lake
Standard status
Active
APN
U-02-29-19-1MM-B00000-00146.0
Lot size
5.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
EAST LAKE PARK COMMERCIAL LOTS E 50 FT OF LOT 138 AND LOTS 139 THRU 152 INCL BLOCK B
Tax Annual Amount
182553
Legal Description
EAST LAKE PARK COMMERCIAL LOTS E 50 FT OF LOT 138 AND LOTS 139 THRU 152 INCL BLOCK B
Utilities
Cooling system
Central Air
Building Details
Year built
1982
Floors in Building
3
Building materials
Concrete, Metal Frame
Roof type
Built-Up
Listing Agency:
SUNCOAST REALTY SOLUTIONS, LLC
(813) 280-4510
Listed By:
Brandi Gabbard · License #3112912
(727) 798-6216
Added: Apr 11, 2025
Changed: Aug 3
Last Checked: Aug 13 at 12:06AM
MLS# TB8362309
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.
This three-story office building features an east and west annex configuration with a breezeway between the wings, plus an additional mailroom/warehouse building. The property was built in 1982 and is constructed with concrete and metal frame, with central air cooling and a built-up roof. Parking is available on site, including secured surface and under-building (underground/basement) parking, along with visitor parking for public use.
Set on a 5.22-acre lot, the building is positioned near the I-4/Orient Road exit and I-75, supporting continued office use or redevelopment planning.
With multiple building components and on-site parking capacity across secured and visitor options, the property’s layout is designed to accommodate a range of office and support space configurations within a single campus.
Set on a 5.22-acre lot, the building is positioned near the I-4/Orient Road exit and I-75, supporting continued office use or redevelopment planning.
With multiple building components and on-site parking capacity across secured and visitor options, the property’s layout is designed to accommodate a range of office and support space configurations within a single campus.
Key Highlights
- 5.22‑acre office campus near I‑4/Orient Road exit and I‑75
- 79,728 SF total building area
- East and west three‑story annexes with breezeway between wings
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
$938,902
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
8.16%
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%
$18,778,040
$18.8M
Cap Rate 7%
$13,412,886
$13.4M
Cap Rate 9%
$10,432,244
$10.4M
Market Conditions
NOI Build-Up for 79,728 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
$1.66M $20.88/SF
− Vacancy
−$412.9K −$5.18/SF
EGI
$1.25M $15.70/SF
− OpEx
−$313.0K −$3.93/SF
NOI
$938.9K $11.78/SF
Area
ZIP 33610
Vacancy
24.80%
Lease Rate
$20.88 /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%
$18,778,040
Cap Rate 7%
$13,412,886
Cap Rate 9%
$10,432,244
Alternative Uses
Best Use
Office B
$13.41M
$11.74M – $15.65M
NOI $938,902 @ 7.0% cap · market cap 8.16%
Second Best
Warehouse
$8.89M
$7.78M – $10.37M
NOI $622,484 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$18.39M
$16.09M – $21.45M
NOI $1,287,193 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Explore this area
Business Placement
Demographics for 33610, FL
45,218
Population
17,995
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
82%
High-School Grad
18.0 sq mi
ZIP Area
2,512
Density / Sq Mi
$49,765
Median Household Income
$34,773
Median Earnings
$1,307
Median Rent
$210,600
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 - East and west annex office building with breezeway, plus an additional mailroom/warehouse building, providing onsite parking options.
Where is this office building located?
The property is located at 6801 E HILLSBOROUGH Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: 5.22‑acre office campus near I‑4/Orient Road exit and I‑75; 79,728 SF total building area; East and west three‑story annexes with breezeway between wings
