Flex Space with Loading
For Sale
$1,499,000
10517 RIVERVIEW Drive, Riverview, FL 33578
Commercial Sale, RIVERVIEW, FL
Property Size4,500 SF
Lot Size0.69 Acres
Price / SF$382.40
Days on Market217
Property Features for 10517 RIVERVIEW Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RDD-DT1
Appliances
Microwave, Refrigerator
Subdivision
COPELAND & MORRISONS SUB
Lot features
Central Business District, Near Public Transit, Oversized Lot, Paved, Suburb
Directions
301 in Riverview to West on Riverview Drive to property address on south side of street.
Standard status
Active
APN
U-17-30-20-2RI-000002-00009.0
Size
3,920 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COPELAND AND MORRISONS SUBDIVISION LOTS 9 10 AND 11 AND WESTERLY 25 FT OF VACATED STREET ABUTTING ON EAST BLOCK 2
Tax Annual Amount
12578
Legal Description
COPELAND AND MORRISONS SUBDIVISION LOTS 9 10 AND 11 AND WESTERLY 25 FT OF VACATED STREET ABUTTING ON EAST BLOCK 2
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
kitchen
reception area
Building Details
Year built
1967
Floors in Building
1
Number of units
1
Flooring type
Concrete, Epoxy, Tile - Ceramic
Building materials
Block, Stucco
Roof type
Built-Up
Listing Agency:
RE/MAX REALTY UNLIMITED · RE/MAX International
(813) 684-0016
Listed By:
Michael Ginty · License #653815
(813) 684-0016
Added: Jan 21
Changed: Aug 24
Last Checked: Aug 26 at 12:06AM
MLS# TB8465465
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.
This flex-space property is a masonry building with several sizable rooms, a reception area, kitchen, and three bathrooms. The interior includes concrete, epoxy, and ceramic tile flooring, along with central heating and air conditioning. A rear loading dock with ramp access, gated passage along the building, and open storage support practical operations. The property also includes public water and sewer service, a built-up roof, and 250-amp electrical service.
The building fronts Riverview Drive west of US 301, along a connector between US 301 and US 41 in Riverview. A fenced asphalt-paved area surrounds the building, with parking positioned at the front and rear access available through the side gate. The property was built in 1967 and is zoned RDD-DT1.
The building fronts Riverview Drive west of US 301, along a connector between US 301 and US 41 in Riverview. A fenced asphalt-paved area surrounds the building, with parking positioned at the front and rear access available through the side gate. The property was built in 1967 and is zoned RDD-DT1.
Key Highlights
- Flexible masonry building with several large rooms, reception area, kitchen, and 3 bathrooms
- Rear loading dock with ramp access
- 250‑amp electrical service
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
$58,036
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
3.87%
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%
$1,160,720
$1.2M
Cap Rate 7%
$829,086
$829.1K
Cap Rate 9%
$644,844
$644.8K
Market Conditions
NOI Build-Up for 3,920 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
$88.4K $22.56/SF
− Vacancy
−$11.1K −$2.82/SF
EGI
$77.4K $19.74/SF
− OpEx
−$19.3K −$4.94/SF
NOI
$58.0K $14.81/SF
Area
Riverview, FL
Vacancy
12.50%
Lease Rate
$22.56 /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%
$1,160,720
Cap Rate 7%
$829,086
Cap Rate 9%
$644,844
Alternative Uses
Best Use
Office B
$829.1K
$725.5K – $967.3K
NOI $58,036 @ 7.0% cap · market cap 3.87%
Second Best
Flex RnD
$482.2K
$422.0K – $562.6K
NOI $33,756 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,577 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Balanced
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.
Similar Off Market Nearby
- DiMisa™️ 721 Gourmet Catering — 8205 US-301 South, Riverview, FL 33578
- Coastal Café — 7409 US-301, Riverview, FL 33578
Frequently Asked Questions
What type of property is this?
Flex space - Masonry commercial building with flexible rooms, office amenities, gated rear access, and paved on-site parking.
Where is this flex space located?
The property is located at 10517 RIVERVIEW Drive Riverview, FL.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Flexible masonry building with several large rooms, reception area, kitchen, and 3 bathrooms; Rear loading dock with ramp access; 250‑amp electrical service
