Corner Lot Office with
For Sale
$495,000
8814 ROCKY CREEK DRIVE, Tampa, FL 33615
Upgraded office with high traffic, fenced yard, and parking.
Property Size1,890 SF
Lot Size0.24 Acres
Price / SF$261.90
Days on Market518
Property Features for 8814 ROCKY CREEK DRIVE
General Information
Standard status
Active
Size
1,890 SF
Lot size
0.24 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,856
Amenities
Central air
Corner Lot
Pool
Public Pool
Central Air Cooling
Paved
Building Details
Year Built
1966
Listing Agency:
YOUNG COMMERCIAL INVESTMENT
(813) 843-6001
Listed By:
SUN YOUNG · License #3006150
Source:
Corcoran
Added: Mar 13, 2025
Changed: Aug 12
Last Checked: Aug 12 at 6:13AM
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 YOUNG COMMERCIAL INVESTMENT
Investment Insights
Based on property information with market context.
This property, located just west of W. Hillsborough Avenue and Memorial Highway, benefits from extremely high traffic. Situated on a corner lot, the property includes a fenced backyard and a brick-paved parking lot. The interior features four rooms, a kitchen, a large reception area, and two bathrooms, each equipped with a shower. A large screened rear patio and a portable storage shed are also included. The fenced backyard offers sufficient space for parking a boat or RV. All drywall has been redone with concrete enhancement, and the interior has been freshly painted. The current sewer system utilizes a septic tank; however, a public sewer line on Rocky Creek Drive is available for connection if desired after purchase. This property presents an opportunity for a business owner to own their location and eliminate rent payments.
Key Highlights
- Price Reduced by $50,000
- High‑traffic corner lot location** near W. Hillsborough Avenue and Memorial Highway
- Brick‑paved parking lot and fenced backyard** suitable for boat or RV parking
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
$23,013
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
4.65%
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%
$460,260
$460.3K
Cap Rate 7%
$328,757
$328.8K
Cap Rate 9%
$255,700
$255.7K
Market Conditions
NOI Build-Up for 1,890 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
$37.0K $19.56/SF
− Vacancy
−$6.3K −$3.33/SF
EGI
$30.7K $16.23/SF
− OpEx
−$7.7K −$4.06/SF
NOI
$23.0K $12.18/SF
Area
ZIP 33615
Vacancy
17.00%
Lease Rate
$19.56 /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%
$460,260
Cap Rate 7%
$328,757
Cap Rate 9%
$255,700
Alternative Uses
Best Use
Office B
$328.8K
$287.7K – $383.6K
NOI $23,013 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$589.4K
$515.8K – $687.7K
NOI $41,261 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,068
Businesses Nearby
Explore this area
Business Placement
Demographics for 33615, FL
47,434
Population
20,543
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
90%
High-School Grad
8.6 sq mi
ZIP Area
5,516
Density / Sq Mi
$66,257
Median Household Income
$38,858
Median Earnings
$1,586
Median Rent
$291,500
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?
Office units - Upgraded office with high traffic, fenced yard, and parking.
Where is this office units located?
The property is located at 8814 ROCKY CREEK DRIVE Tampa, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Price Reduced by $50,000; High‑traffic corner lot location** near W. Hillsborough Avenue and Memorial Highway; Brick‑paved parking lot and fenced backyard** suitable for boat or RV parking
