Downtown Redevelopment Land
For Sale
$2,500,000
1001 N FRANKLIN ST, Tampa, FL 33602
Zoned CBD-1 for medium-to-high-rise development, located on the northeast corner of Franklin and Tyler.
Property Size9,684 SF
Days on Market377
Property Features for 1001 N FRANKLIN ST
General Information
Standard status
Active
Size
9,684 SF
Property subtype
Business
Zoning
CBD-1
Site & Location
Neighborhood
Downtown River Arts Neighborhood Association
Taxes and HOA fees
Annual Taxes
$12,073
Building Details
Building Size
9,684 SF
Year Built
1905
Listing Agency:
PALERMO REAL ESTATE PROF. INC.
Listed By:
Michael Palermo · License #681569
(813) 629-3181
Source:
Judibeck
Added: Oct 13, 2025
Changed: Oct 19
Last Checked: Oct 23 at 2:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of PALERMO REAL ESTATE PROF. INC.
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Investment Insights
Based on property information with market context.
The property at 1001 N. Franklin Street is a redevelopment site located in downtown Tampa. Current zoning is CBD-1, which allows medium to high-rise development with no FAR restrictions, supporting a range of vertical project concepts consistent with the area’s denser built form.
Situated on the northeast corner of Franklin Street and Tyler Street, the site is positioned amid active downtown uses. The area includes luxury high-rise apartments, dining and entertainment venues, and the newly renovated Herman Massey Park across the street.
This parcel is best suited for developers and land buyers focused on assembling a downtown footprint for higher-density, medium-to-high-rise development under CBD-1. With zoning not imposing FAR limits, it offers straightforward planning flexibility for a project aligned with the district’s established mix of residential and entertainment-oriented activity. Redevelopment-minded investors and owner-operators should review CBD-1 requirements in detail to confirm design, site planning, and any project-specific constraints prior to moving forward.
Situated on the northeast corner of Franklin Street and Tyler Street, the site is positioned amid active downtown uses. The area includes luxury high-rise apartments, dining and entertainment venues, and the newly renovated Herman Massey Park across the street.
This parcel is best suited for developers and land buyers focused on assembling a downtown footprint for higher-density, medium-to-high-rise development under CBD-1. With zoning not imposing FAR limits, it offers straightforward planning flexibility for a project aligned with the district’s established mix of residential and entertainment-oriented activity. Redevelopment-minded investors and owner-operators should review CBD-1 requirements in detail to confirm design, site planning, and any project-specific constraints prior to moving forward.
Key Highlights
- Zoned CBD‑1 for medium to high‑rise development (no FAR restrictions stated)
- Located on the NE corner of Franklin St and Tyler St at 1001 N Franklin St in downtown Tampa
- 1905 building on a 0.13‑acre lot (52 x 105) with slab foundation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,816
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,856,320
$2.9M
Cap Rate 7%
$2,040,229
$2.0M
Cap Rate 9%
$1,586,844
$1.6M
Market Conditions
NOI Build-Up for 9,684 SF
Gross rent
$177.8K $18.36/SF
− Vacancy
−$9.8K −$1.01/SF
EGI
$168.0K $17.35/SF
− OpEx
−$25.2K −$2.60/SF
NOI
$142.8K $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 Rate 5%
$2,856,320
Cap Rate 7%
$2,040,229
Cap Rate 9%
$1,586,844
Alternative Uses
Best Use
Warehouse
$2.04M
$1.79M – $2.38M
NOI $142,816 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.97M – $2.63M
NOI $157,927 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 33602, FL
19,936
Population
11,972
Households
1.7
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
2.6 sq mi
ZIP Area
7,668
Density / Sq Mi
$88,569
Median Household Income
$66,434
Median Earnings
$2,119
Median Rent
$560,400
Median Home Value
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Market
Vacancy Rate% for Industrial in Tampa, FL
Frequently Asked Questions
What type of property is this?
Commercial land - Zoned CBD-1 for medium-to-high-rise development, located on the northeast corner of Franklin and Tyler.
Where is this commercial land located?
The property is located at 1001 N FRANKLIN ST Tampa, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Zoned CBD‑1 for medium to high‑rise development (no FAR restrictions stated); Located on the NE corner of Franklin St and Tyler St at 1001 N Franklin St in downtown Tampa; 1905 building on a 0.13‑acre lot (52 x 105) with slab foundation
