Riverview Medical Office Redevelopment
For Sale
$1,395,000
10508 GIBSONTON DR, Riverview, FL 33578
Turnkey medical office near new hospital, ideal for retail.
Property Size1,800 SF
Lot Size1.00 Acre
Price / SF$218.58
Days on Market150
Property Features for 10508 GIBSONTON DR
General Information
Standard status
Active
Size
1,800 SF
Lot size
1.00 Acre
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,155
Building Details
Building Size
1,800 SF
Year Built
1979
Listing Agency:
BAY NATIONAL REALTY, INC.
(813) 786-6280
Listed By:
Daneel Tatum · License #3235939
(813) 786-6280
Source:
Elliman
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 8 at 6:25AM
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 BAY NATIONAL REALTY, INC.
Investment Insights
Based on property information with market context.
This property presents a redevelopment opportunity near the new Advent Health Riverview Hospital, situated approximately 0.06 miles away. The existing turnkey medical office includes five exam rooms, a waiting area, a receptionist area, an administrative office, two private doctor's offices, one and a half restrooms, a lab area, a nurses’ station, and a breakroom with a kitchenette. The property is located on a 1.08-acre lot with monument signage and over 25 parking spaces. It features 125 feet of primary road frontage and has been recently updated with a new tile room. Zoned Planned Development (PD) with a Future Land Use designation of Suburban Mixed Use-6 (SMU-6), the highest and best use for the vacant property is retail development. The location benefits from high visibility on Gibsonton Drive, with approximately 42,500 vehicles passing daily. The property has conditional approval for a 6382 square foot two-story medical office. It is located across the street from a Lowe’s and has proximity to Interstate I75 and US Highway 301.
Key Highlights
- Prime redevelopment opportunity for retail due to location and zoning.
- High traffic exposure with approximately 42,500 vehicles per day and excellent visibility from Gibsonton Drive.
- Located 4 minutes from the new Advent Health Riverview Hospital.
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
$94,600
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
6.78%
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%
$1,892,000
$1.9M
Cap Rate 7%
$1,351,429
$1.4M
Cap Rate 9%
$1,051,111
$1.1M
Market Conditions
NOI Build-Up for 6,382 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
$172.3K $27.00/SF
− Vacancy
−$14.6K −$2.30/SF
EGI
$157.7K $24.71/SF
− OpEx
−$63.1K −$9.88/SF
NOI
$94.6K $14.82/SF
Area
Riverview, FL
Vacancy
8.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,892,000
Cap Rate 7%
$1,351,429
Cap Rate 9%
$1,051,111
Alternative Uses
Best Use
Healthcare Medical
$1.35M
$1.18M – $1.58M
NOI $94,600 @ 7.0% cap · market cap 6.78%
Second Best
Office B
$1.35M
$1.18M – $1.57M
NOI $94,486 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,325 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33578, FL
58,854
Population
25,850
Households
2.3
Avg Household Size
35
Median Age
37%
College-Educated
94%
High-School Grad
20.4 sq mi
ZIP Area
2,885
Density / Sq Mi
$80,223
Median Household Income
$46,967
Median Earnings
$1,766
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical office near new hospital, ideal for retail.
Where is this medical office space located?
The property is located at 10508 GIBSONTON DR Riverview, FL.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Prime redevelopment opportunity for retail due to location and zoning.; High traffic exposure with approximately 42,500 vehicles per day and excellent visibility from Gibsonton Drive.; Located 4 minutes from the new Advent Health Riverview Hospital.
