Renovated Office
For Sale
$419,900
10302 N NEBRASKA AVENUE, Tampa, FL 33612
Open and private areas provide flexible commercial workspace with ADA access and a gated rear lot.
Property Size1,560 SF
Price / SF$292.61
Days on Market97
Property Features for 10302 N NEBRASKA AVENUE
General Information
Standard status
Active
Size
1,560 SF
Zoning
CG
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,558
Amenities
Central Air
Central, Electric
Building Details
Building Size
1,560 SF
Year Built
1957
Stories
1
Listing Agency:
DIRECT EXPRESS REALTY
(727) 686-0101
Listed By:
Joe Cavaleri
(727) 686-0101
Source:
Evrealestate
Added: May 25
Changed: Aug 29
Last Checked: Jun 10 at 5:44PM
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 DIRECT EXPRESS REALTY
Investment Insights
Based on property information with market context.
This 1,435-square-foot commercial property was built in 1957 and fully renovated for contemporary office use. The interior combines open areas with private rooms, while ADA access supports broader usability. A gated rear lot provides space for storage or parking, and the property was previously used as a daycare.
The property is located on N Nebraska Avenue in Tampa near the University of South Florida, Moffitt Cancer Center, Busch Gardens, and Adventure Island. It sits along a heavily traveled corridor with connectivity to key Tampa districts. The existing layout and stated suitability for office, insurance, and service businesses provide several potential commercial applications.
The property is located on N Nebraska Avenue in Tampa near the University of South Florida, Moffitt Cancer Center, Busch Gardens, and Adventure Island. It sits along a heavily traveled corridor with connectivity to key Tampa districts. The existing layout and stated suitability for office, insurance, and service businesses provide several potential commercial applications.
Key Highlights
- 1,435 SF commercial property fully renovated for office use
- Open interior areas combined with private rooms
- ADA access included
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
$17,551
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
4.18%
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%
$351,020
$351.0K
Cap Rate 7%
$250,729
$250.7K
Cap Rate 9%
$195,011
$195.0K
Market Conditions
NOI Build-Up for 1,435 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
$31.0K $21.60/SF
− Vacancy
−$7.6K −$5.29/SF
EGI
$23.4K $16.31/SF
− OpEx
−$5.9K −$4.08/SF
NOI
$17.6K $12.23/SF
Area
ZIP 33612
Vacancy
24.50%
Lease Rate
$21.60 /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%
$351,020
Cap Rate 7%
$250,729
Cap Rate 9%
$195,011
Alternative Uses
Best Use
Office B
$250.7K
$219.4K – $292.5K
NOI $17,551 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$326.9K
$286.0K – $381.4K
NOI $22,882 @ 7.0% cap · market cap 5.45%
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
806
Businesses Nearby
Explore this area
Business Placement
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
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 units - Open and private areas provide flexible commercial workspace with ADA access and a gated rear lot.
Where is this office units located?
The property is located at 10302 N NEBRASKA AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: 1,435 SF commercial property fully renovated for office use; Open interior areas combined with private rooms; ADA access included
