Class A Office Space,
For Sale
Contact for pricing
Pending
1120 E Kennedy Blvd Suite 226, Tampa, FL 33602
Premier office suite in Channelside District with parking.
Property Size2,088 SF
Days on Market190
Property Features for 1120 E Kennedy Blvd Suite 226
General Information
Standard status
Pending
Size
2,088 SF
Class
A
Property subtype
Office
Listing Agency:
KELLER WILLIAMS TAMPA CENTRAL
Listed By:
Brian T. Hahs, PA · License #BK3460665
Source:
Crexi
Added: Feb 4
Changed: Aug 12
Last Checked: Aug 12 at 9:34AM
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 KELLER WILLIAMS TAMPA CENTRAL
Investment Insights
Based on property information with market context.
This 2088 square foot Class A office space is available for purchase at 1120 E. Kennedy Blvd in Tampa, Florida. Located in the Channelside District of Downtown Tampa, this turnkey suite is suitable for professionals seeking a modern workspace. The office suite features an efficient layout designed to support collaborative and private work environments. Furniture may be included in the purchase. The property includes an on-site concierge service and covered garage parking, with eleven dedicated parking passes. As one of only four corner office units, it offers large windows and abundant natural light. The suite may also be purchased in combination with Suite 225, an 824 square foot unit featuring a functional layout and five dedicated parking passes. Combined, the two suites provide a total of 3,032 square feet of office space with sixteen dedicated parking passes. The Channelside address provides access to dining, retail, and entertainment, with access to I-275, the Selmon Expressway, and Tampa’s downtown core.
Key Highlights
- Prime Class A office space in the vibrant Channelside District of Downtown Tampa.
- Turnkey suite (2208 RSF) ready for immediate occupancy, furniture may be included.
- Includes eleven dedicated covered garage parking passes.
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
$28,376
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
2.85%
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%
$567,520
$567.5K
Cap Rate 7%
$405,371
$405.4K
Cap Rate 9%
$315,289
$315.3K
Market Conditions
NOI Build-Up for 2,088 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
$50.1K $24.00/SF
− Vacancy
−$12.3K −$5.88/SF
EGI
$37.8K $18.12/SF
− OpEx
−$9.5K −$4.53/SF
NOI
$28.4K $13.59/SF
Area
Tampa, FL
Vacancy
24.50%
Lease Rate
$24.00 /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%
$567,520
Cap Rate 7%
$405,371
Cap Rate 9%
$315,289
Alternative Uses
Best Use
Office B
$405.4K
$354.7K – $472.9K
NOI $28,376 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$486.4K
$425.6K – $567.5K
NOI $34,051 @ 7.0% cap · market cap 3.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,887
Businesses Nearby
Explore this area
Business Placement
Demographics for 33602, FL
19,936
Population
11,972
Households
1.7
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
2.6 sq mi
ZIP Area
7,668
Density / Sq Mi
$88,569
Median Household Income
$66,434
Median Earnings
$2,119
Median Rent
$560,400
Median Home Value
Market
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Premier office suite in Channelside District with parking.
Where is this office units located?
The property is located at 1120 E Kennedy Blvd Suite 226 Tampa, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime Class A office space in the vibrant Channelside District of Downtown Tampa.; Turnkey suite (2208 RSF) ready for immediate occupancy, furniture may be included.; Includes eleven dedicated covered garage parking passes.
