Fully Leased Medical Office
For Sale
Contact for pricing
10960 Sheldon Rd, Tampa, FL 33626
Fully leased medical office building in excellent location.
Property Size4,960 SF
Lot Size0.12 Acres
Price / SF$302.40
Days on Market330
Property Features for 10960 Sheldon Rd
General Information
Standard status
Active
Size
4,960 SF
Lot size
0.12 Acres
Property subtype
Office
Listing Agency:
Andretta Properties
Listed By:
Bill Besselieu · License #FL
Source:
Crexi
Added: Sep 16, 2025
Changed: Aug 8
Last Checked: Aug 9 at 3:33PM
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 Andretta Properties
Investment Insights
Based on property information with market context.
This fully leased medical office building is located at the entrance of Westchase, an area with over 9,000 households. Situated in the Chase Professional Park on Sheldon Road, the property offers an opportunity for investors seeking income in a visible location. The Chase Professional Park includes two driveway entrances with northbound turn access, a total of 14 buildings, ample parking, and signage. It is connected to an Applebee's and a CVS via a driveway to the south. The subject building, an end unit directly on Sheldon Road, benefits from traffic counts exceeding 30,000 cars per day (AADT). Signage includes a pylon sign along Sheldon Road and building signage. Constructed in 2005 of concrete block, the 4,960 square foot building consists of two equal units. The roof was replaced in 2022, and the building is in excellent, well-maintained condition. The west half of the building features a more open floor plan, while the eastern half has a medical buildout with a circular layout. Other potential uses for the property include attorney or CPA offices. Water and sewer utilities are provided by Hillsborough County, and electric is provided by Tampa Electric. The property is zoned PD/Planned Development and is not located in an Opportunity Zone. Taxes for 2024 were $16,169. Quarterly Owner Association Fees are $2,635.
Key Highlights
- Fully leased medical office building in a desirable location with high visibility (30,000+ AADT).
- Strong investment opportunity with a 5.5% cap rate.
- Relatively new construction (2005) and well‑maintained building with a new roof (2022).
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
$72,281
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
4.82%
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%
$1,445,620
$1.4M
Cap Rate 7%
$1,032,586
$1.0M
Cap Rate 9%
$803,122
$803.1K
Market Conditions
NOI Build-Up for 4,960 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
$130.9K $26.40/SF
− Vacancy
−$10.5K −$2.11/SF
EGI
$120.5K $24.29/SF
− OpEx
−$48.2K −$9.72/SF
NOI
$72.3K $14.57/SF
Area
Tampa, FL
Vacancy
8.00%
Lease Rate
$26.40 /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%
$1,445,620
Cap Rate 7%
$1,032,586
Cap Rate 9%
$803,122
Alternative Uses
Best Use
Healthcare Medical
$1.03M
$903.5K – $1.20M
NOI $72,281 @ 7.0% cap · market cap 4.82%
Second Best
Office B
$962.9K
$842.6K – $1.12M
NOI $67,406 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,888 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33626, FL
31,875
Population
12,392
Households
2.6
Avg Household Size
39
Median Age
64%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
2,591
Density / Sq Mi
$123,580
Median Household Income
$72,888
Median Earnings
$2,127
Median Rent
$506,600
Median Home Value
Market
Vacancy Rate% for Office 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?
Medical Office Space - Fully leased medical office building in excellent location.
Where is this medical office space located?
The property is located at 10960 Sheldon Rd Tampa, FL.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Fully leased medical office building in a desirable location with high visibility (30,000+ AADT).; Strong investment opportunity with a 5.5% cap rate.; Relatively new construction (2005) and well‑maintained building with a new roof (2022).
