Climate-Controlled Storage
For Sale
$450,000
1111 N 34th St., Tampa, FL 33605
Commercial Sale, Tampa, FL
Property Size1,200 SF
Lot Size0.03 Acres
Price / SF$375
Days on Market322
Property Features for 1111 N 34th St.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Subdivision
Ybor City
High school district
000000
Directions
I-4 to south on N 50th St, right on E Adamo Dr, right on N 34th St, property is on right side
Standard status
Active
APN
000000-000.000-0000-212.000
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6336
HOA Fee
$365 Monthly
Utilities
Heating system
Electric (Heating), Heat Pump (Heating), Zoned
Water source
Public
Amenities
club house
Building Details
Year built
2023
Floors in Building
1
Building materials
Masonite
Listing Agency:
DESTINY REALTY
(330) 495-9055
Listed By:
George Schempf
(330) 499-2298
Added: Oct 22, 2025
Changed: Sep 8
Last Checked: Sep 8 at 3:06AM
MLS# 11594032
Copyright © 2026 My State 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.
Unit 212 is a 2023 private-use storage condominium with climate control, a 24' x 50' interior, and a 14' x 14' overhead door. The space includes a bathroom and can accommodate recreational vehicles, boats, trailers, and vehicle collections. The current owner backed a 45' motor coach into the unit, while the surrounding 50' aisles support maneuvering larger equipment.
The property is near I-4, downtown Tampa, and Ybor City. Paddock1 provides a 3,000 sq ft owners-only clubhouse with space for community gatherings and work or meeting functions. The site is commercially zoned, although the HOA does not permit business operations; use is limited to private storage. Public water service and electric heating are in place.
The property is near I-4, downtown Tampa, and Ybor City. Paddock1 provides a 3,000 sq ft owners-only clubhouse with space for community gatherings and work or meeting functions. The site is commercially zoned, although the HOA does not permit business operations; use is limited to private storage. Public water service and electric heating are in place.
Key Highlights
- 24' x 50' climate‑controlled storage condominium
- 14' x 14' overhead door and private bathroom
- 50' aisles accommodate RVs, boats, and trailers
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
$17,697
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
3.93%
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%
$353,940
$353.9K
Cap Rate 7%
$252,814
$252.8K
Cap Rate 9%
$196,633
$196.6K
Market Conditions
NOI Build-Up for 1,200 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
$22.0K $18.36/SF
− Vacancy
−$1.2K −$1.01/SF
EGI
$20.8K $17.35/SF
− OpEx
−$3.1K −$2.60/SF
NOI
$17.7K $14.75/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
15.00%
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%
$353,940
Cap Rate 7%
$252,814
Cap Rate 9%
$196,633
Alternative Uses
Best Use
Warehouse
$252.8K
$221.2K – $295.0K
NOI $17,697 @ 7.0% cap · market cap 3.93%
Second Best
Self Storage
$159.0K
$139.1K – $185.5K
NOI $11,128 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$279.6K
$244.6K – $326.2K
NOI $19,570 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
605
Businesses Nearby
Explore this area
Business Placement
Demographics for 33605, FL
18,243
Population
8,994
Households
2
Avg Household Size
36
Median Age
21%
College-Educated
79%
High-School Grad
7.8 sq mi
ZIP Area
2,339
Density / Sq Mi
$36,790
Median Household Income
$35,889
Median Earnings
$1,122
Median Rent
$235,100
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Self storage facility - Private garage condominium with oversized access, a bathroom, and shared owner amenities for storage use.
Where is this self storage facility located?
The property is located at 1111 N 34th St. Tampa, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 24' x 50' climate‑controlled storage condominium; 14' x 14' overhead door and private bathroom; 50' aisles accommodate RVs, boats, and trailers
