Fully Leased Retail Investment
For Sale
$799,000
4172-4174 E HILLSBOROUGH AVENUE, Tampa, FL 33610
Freestanding retail property with 10-year lease in place.
Property Size3,426 SF
Lot Size0.31 Acres
Price / SF$233.22
Days on Market540
Property Features for 4172-4174 E HILLSBOROUGH AVENUE
General Information
Standard status
Active
Size
3,426 SF
Lot size
0.31 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,405
Amenities
Pool
Public Pool
Building Details
Year Built
1952
Listing Agency:
FLORIDA COMMERCIAL GROUP
(813) 935-9600
Listed By:
TINA MARIE ELOIAN · License #653748
(813) 997-4321
Source:
Corcoran
Added: Apr 10, 2025
Changed: Aug 25
Last Checked: Aug 14 at 6:01AM
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 FLORIDA COMMERCIAL GROUP
Investment Insights
Based on property information with market context.
This fully leased, freestanding retail property is available for sale, offering a 10-year lease. The property is suitable for various businesses, including retail stores, offices, automotive paint, service and body repair, automotive sales, tire shops, mechanic shops, professional services, or service-oriented businesses such as electrical, plumbing, landscaping, HVAC, solar, and roofing. The front building measures 1,791 square feet and features a small office/reception area, two bays for body work including a drying station, and 12 ft ceilings. The property is fully fenced. The second 1,635 square foot building at the rear of the property can be used as a car lot or for additional business operations. The front building includes wall-mounted signage that provides visibility to commuters on E. Hillsborough Avenue. The property is situated in East Tampa, within stable residential neighborhoods with over 42,989 households housing more than 103,156 residences within three miles. The area has an average household income of $44,346 within a 3-mile radius. The location is near 40th Street, 56th Street, Interstate 4, Busch Blvd, Dr. Martin Luther King Jr. Blvd., Nebraska Avenue, and Interstate 275. Downtown Tampa, USF, Temple Terrace, North Tampa, and Interstate 75 are also centrally located. The property, situated on a 0.31-acre lot, includes a small 240 square foot office with a restroom, an onsite storage shed, and 2 grade-level bay doors. It features 12 ft ceiling heights, a paint station with air filtration, an air compressor, a lift, and ample yard space. The property is fully metal fenced and gated for security and is located in a qualified HUBZone. The zoning is CI (Commercial Intensive).
Key Highlights
- 10‑year lease in place, providing immediate and stable income.
- High traffic location with 47,000 vehicles per day on E. Hillsborough Avenue, ensuring excellent visibility.
- Two freestanding buildings: a 1,791 SF front building and a 1,635 SF rear building suitable for a car lot or additional business operations.
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
$39,498
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
4.94%
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%
$789,960
$790.0K
Cap Rate 7%
$564,257
$564.3K
Cap Rate 9%
$438,867
$438.9K
Market Conditions
NOI Build-Up for 3,426 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
$61.7K $18.00/SF
− Vacancy
−$5.2K −$1.53/SF
EGI
$56.4K $16.47/SF
− OpEx
−$16.9K −$4.94/SF
NOI
$39.5K $11.53/SF
Area
ZIP 33610
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$789,960
Cap Rate 7%
$564,257
Cap Rate 9%
$438,867
Alternative Uses
Best Use
Retail
$564.3K
$493.7K – $658.3K
NOI $39,498 @ 7.0% cap · market cap 4.94%
Second Best
Industrial
$314.7K
$275.4K – $367.1K
NOI $22,028 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$790.2K
$691.4K – $921.9K
NOI $55,312 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
17k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Dining 5%
Family Dollar
Shops & Services
5,029 visits/mo
0.4 miles
AutoZone
Shops & Services
4,286 visits/mo
0.5 miles
Chevron
Shops & Services
4,128 visits/mo
0.3 miles
Value Pawn & Jewelry
Shops & Services
2,728 visits/mo
0.2 miles
Salem's Gyros & Subs
Dining
809 visits/mo
0.1 miles
Demographics for 33610, FL
45,218
Population
17,995
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
82%
High-School Grad
18.0 sq mi
ZIP Area
2,512
Density / Sq Mi
$49,765
Median Household Income
$34,773
Median Earnings
$1,307
Median Rent
$210,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Tampa, FL
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Frequently Asked Questions
What type of property is this?
Auto shop - Freestanding retail property with 10-year lease in place.
Where is this auto shop located?
The property is located at 4172-4174 E HILLSBOROUGH AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 10‑year lease in place, providing immediate and stable income.; High traffic location with 47,000 vehicles per day on E. Hillsborough Avenue, ensuring excellent visibility.; Two freestanding buildings: a 1,791 SF front building and a 1,635 SF rear building suitable for a car lot or additional business operations.
