Strip Center with NNN
For Sale
$4,750,000
10426 N Dale Mabry Hwy, Tampa, FL 33618
Established retail center with service-oriented tenancy, recent capital upgrades, and customer parking along a major retail corridor.
Property Size13,520 SF
Price / SF$351.33
Days on Market139
Property Features for 10426 N Dale Mabry Hwy
General Information
Standard status
Active
Size
13,520 SF
Total Parking Spaces
70
Property subtype
Shopping Strip
Additional Details
Cap Rate
6.65%
Traffic Count
70,500 vehicles/day
Amenities
Premier Retail Location: Situated in a Highly Desirable Retail Corridor Right With Exceptional Exposure off Dale Mabry Highway (70,500 VPD, Source: FDOT)
Strong Demographics & Purchasing Power: Highly Attractive Demographic Profile With 9,500 Residents Within A 1-mile Radius And Median Household Income Exceeding $84,000, Supporting High Demand Retail
Excellent Parking & Accessibility: Strong Parking Ratio Of 5.03 (70 Total Spaces) Enhances Tenant Accessibility And Supports High-traffic Uses, Driving Customer Convenience And Sales Performance.
Significant Capital Improvements: Extensive Capital Improvements Were Done To The Property Over The Last 5 Years Significantly Reducing The Effective Age. This Includes A New Roof, Exterior Paint, Parking Lot Seal, And Electrical Upgrades.
Established & Growing Trade Area: Located In A Well-established Yet High-growth Market With A Projected 6% Population Increase Over The Next 5 Years.
Stable NNN Lease Structure: All Tenants Operate Under NNN Leases Offering A Low-maintenance Investment And Minimizing Potential Downside From Expense Increases.
Building Details
Building Size
13,520 SF
Year Built
1982
Tenancy
Multi
Parking Ratio
5.03 per 1,000 SF
Listing Agency:
Orlando Office
(407) 557-3802
Listed By:
Alex Goodale · License #FL: SL3582293
(407) 557-3802
Source:
Marcusmillichap
Added: Apr 14
Changed: Aug 30
Last Checked: Aug 30 at 1:45AM
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 Orlando Office
Investment Insights
Based on property information with market context.
Fairway North Plaza is a 13,520-square-foot strip center built in 1982 at 10426 N Dale Mabry Hwy in Tampa, Florida. The property is occupied by a mix of service-based tenants under NNN leases, providing a defined expense structure for ownership. Recent improvements include a new roof, exterior painting, parking lot sealing, and electrical work.
The center fronts Dale Mabry Highway, where exposure is estimated at approximately 70,500 vehicles per day. On-site parking includes 70 spaces, equivalent to 5.03 spaces per 1,000 square feet. The surrounding area includes approximately 9,500 residents within one mile, with median household income exceeding $84,000 and projected population growth of 6% over the next five years. The offering reflects a 6.65% cap rate.
The center fronts Dale Mabry Highway, where exposure is estimated at approximately 70,500 vehicles per day. On-site parking includes 70 spaces, equivalent to 5.03 spaces per 1,000 square feet. The surrounding area includes approximately 9,500 residents within one mile, with median household income exceeding $84,000 and projected population growth of 6% over the next five years. The offering reflects a 6.65% cap rate.
Key Highlights
- 13,520‑square‑foot strip center built in 1982
- Service‑based tenant mix with NNN leases
- Approximately 70,500 vehicles per day along Dale Mabry Highway
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
$160,983
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
3.39%
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%
$3,219,660
$3.2M
Cap Rate 7%
$2,299,757
$2.3M
Cap Rate 9%
$1,788,700
$1.8M
Market Conditions
NOI Build-Up for 13,520 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
$243.4K $18.00/SF
− Vacancy
−$13.4K −$0.99/SF
EGI
$230.0K $17.01/SF
− OpEx
−$69.0K −$5.10/SF
NOI
$161.0K $11.91/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,219,660
Cap Rate 7%
$2,299,757
Cap Rate 9%
$1,788,700
Alternative Uses
Best Use
Retail
$2.30M
$2.01M – $2.68M
NOI $160,983 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.15M
$2.76M – $3.67M
NOI $220,484 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
70,500 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,214
Businesses Nearby
297k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 29%
Groceries 11%
Apparel 6%
Publix
Groceries
31,743 visits/mo
0.3 miles
McDonald's
Dining
25,599 visits/mo
0.0 miles
Starbucks
Dining
23,625 visits/mo
0.3 miles
Thorntons
Shops & Services
21,894 visits/mo
0.4 miles
Culver's
Dining
19,268 visits/mo
0.2 miles
Demographics for 33618, FL
26,474
Population
12,394
Households
2.1
Avg Household Size
45
Median Age
48%
College-Educated
95%
High-School Grad
8.4 sq mi
ZIP Area
3,152
Density / Sq Mi
$79,850
Median Household Income
$50,134
Median Earnings
$1,400
Median Rent
$379,200
Median Home Value
Market
Vacancy Rate% for Retail in Tampa, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Established retail center with service-oriented tenancy, recent capital upgrades, and customer parking along a major retail corridor.
Where is this strip mall located?
The property is located at 10426 N Dale Mabry Hwy Tampa, FL.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 13,520‑square‑foot strip center built in 1982; Service‑based tenant mix with NNN leases; Approximately 70,500 vehicles per day along Dale Mabry Highway
