Industrial Flex Space with
For Sale
Under Contract
$2,693,480
9945 RACE TRACK Road, Tampa, FL 33626
Commercial Sale, TAMPA, FL
Property Size15,844 SF
Lot Size1.05 Acres
Price / SF$170
Days on Market107
Property Features for 9945 RACE TRACK Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CI
Directions
Property is located on the south side of Racetrack Road between Tampa Road and Hillsborough Avenue in the Westchase / Oldsmar area of Northwest Hillsborough County. From the Veterans Expressway, exit west onto Hillsborough Avenue, turn north onto Racetrack Road, and continue approximately 2 miles to the property located on the left-hand side.
Subdivision
33626 - Tampa/Northdale/Westchase
Standard status
Active Under Contract
APN
U-19-28-17-9FS-000000-C0000.0
Size
15,844 SF
Lot size
1.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
RACETRACK ROAD BUSINESS PARK PARCEL C
Tax Annual Amount
30247
Legal Description
RACETRACK ROAD BUSINESS PARK PARCEL C
Building Details
Year built
2000
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
KELLER WILLIAMS TAMPA PROP. · Keller Williams Realty
(813) 264-7754
Listed By:
Alexander Lucke · License #3351552
(727) 410-2896
Added: May 14
Changed: Aug 26
Last Checked: Aug 28 at 9:06PM
MLS# TB8508609
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.
Built in 2000, this 15,844-square-foot flex property occupies 1.05 acres and combines industrial, office, showroom, and loading functions. Approximately 13,364 square feet is configured for warehouse and operational use, with clear heights ranging from about 16 feet to 21 feet. The front area includes roughly 1,570 square feet of showroom and display space, attached offices, and a 964-square-foot mezzanine-style office overlooking the warehouse. Metal siding, a metal roof, and metal-frame construction support the building’s industrial configuration.
Loading infrastructure includes two 8' x 8' receiving doors, one 12' x 12' overhead door, six 12' x 16' grade-level overhead doors, and three 7' x 14' receiving doors. Two covered drive-through loading or carport areas provide canopy heights of approximately 20 feet. The property has 480-volt, three-phase power with multiple electrical panels. It fronts Racetrack Road for more than 240 feet, with reported traffic exceeding 19,200 AADT, and provides access toward Tampa Road, Hillsborough Avenue, and the Veterans Expressway. Zoned CI, the building is currently owner-occupied and is scheduled for vacant delivery at closing.
Loading infrastructure includes two 8' x 8' receiving doors, one 12' x 12' overhead door, six 12' x 16' grade-level overhead doors, and three 7' x 14' receiving doors. Two covered drive-through loading or carport areas provide canopy heights of approximately 20 feet. The property has 480-volt, three-phase power with multiple electrical panels. It fronts Racetrack Road for more than 240 feet, with reported traffic exceeding 19,200 AADT, and provides access toward Tampa Road, Hillsborough Avenue, and the Veterans Expressway. Zoned CI, the building is currently owner-occupied and is scheduled for vacant delivery at closing.
Key Highlights
- 15,844 SF flex building on 1.05 acres
- More than 240 feet of direct Racetrack Road frontage; traffic exceeds 19,200 AADT
- Approximately 13,364 SF of warehouse and operational space
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
$233,662
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
8.68%
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%
$4,673,240
$4.7M
Cap Rate 7%
$3,338,029
$3.3M
Cap Rate 9%
$2,596,244
$2.6M
Market Conditions
NOI Build-Up for 15,844 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
$290.9K $18.36/SF
− Vacancy
−$16.0K −$1.01/SF
EGI
$274.9K $17.35/SF
− OpEx
−$41.2K −$2.60/SF
NOI
$233.7K $14.75/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
15.00%
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%
$4,673,240
Cap Rate 7%
$3,338,029
Cap Rate 9%
$2,596,244
Alternative Uses
Best Use
Warehouse
$3.34M
$2.92M – $3.89M
NOI $233,662 @ 7.0% cap · market cap 8.68%
Second Best
Flex RnD
$2.99M
$2.61M – $3.49M
NOI $209,103 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,384 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
6
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33626, FL
31,875
Population
12,392
Households
2.6
Avg Household Size
39
Median Age
64%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
2,591
Density / Sq Mi
$123,580
Median Household Income
$72,888
Median Earnings
$2,127
Median Rent
$506,600
Median Home Value
Market
Vacancy Rate% for Industrial in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Owner-user flex property combining warehouse capacity, showroom space, offices, and multiple loading options.
Where is this flex space located?
The property is located at 9945 RACE TRACK Road Tampa, FL.
What is the asking price?
The asking price for this property is $2,693,480.
What are key features of this property?
This property features: 15,844 SF flex building on 1.05 acres; More than 240 feet of direct Racetrack Road frontage; traffic exceeds 19,200 AADT; Approximately 13,364 SF of warehouse and operational space
