Building Details

Year Built 1913

Listing Agency: RE/MAX REALTY UNLIMITED Show Phone

Listed By: Charmaine Blake · License #3033914 Show Phone

Source: Exitrealty

Added: Apr 1, 2025 Changed: Oct 6 Last Checked: Oct 5 at 5:29PM

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Investment Insights

Based on property information with market context.

This mixed-use property is strategically located on Nebraska Avenue near Hillsborough, less than a mile from Highway I-275. The property is zoned SH-Commercial Intensive with Future Land Use CC-35. There are currently two structures on the lot, containing a total of five residential units, an office, and a storage shed. The first building includes two efficiency units, a small retail/office space with one bathroom facing Nebraska, and a rear residential unit with four bedrooms and three bathrooms. The second building is a duplex, featuring a 1/1 unit on the ground floor and an efficiency unit on the top floor. The property has a brand new roof and a new fence. Centrally located, it is close to Urgent Care, Walmart, and restaurants, offering endless income possibilities.

Key Highlights

• SH‑Commercial Intensive zoning with CC‑35 Future Land Use allows for diverse development opportunities.
• Prime location on Nebraska Avenue near Hillsborough, with high visibility and easy access to I‑275.
• Two existing structures provide immediate income potential with a total of 5 residential units, an office, and a storage shed.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,400

Cap Rate

4.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$928,000 $928.0K

Cap Rate 7%

$662,857 $662.9K

Cap Rate 9%

$515,556 $515.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,437 SF

Gross rent

$82.5K $24.00/SF

− Vacancy

−$8.2K −$2.40/SF

EGI

$74.2K $21.60/SF

− OpEx

−$27.8K −$8.10/SF

NOI

$46.4K $13.50/SF

Area

Tampa, FL

Vacancy

10.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$928,000

Cap Rate 7%

$662,857

Cap Rate 9%

$515,556

Alternative Uses

Best Use

Mixed Use

$662.9K

$580.0K – $773.3K (±1% cap)

NOI $46,400 @ 7.0% cap · market cap 4.22%

Second Best

Apartment 5plus

$532.9K

$466.3K – $621.7K (±1% cap)

NOI $37,300 @ 7.0% cap · market cap 3.39%

Theoretical Best

Office A

$800.7K

$700.6K – $934.2K (±1% cap)

NOI $56,051 @ 7.0% cap · market cap 5.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Paralegals of Tampa Bay Law Firm

Suggested Use

Top Pick Law Firm Dental Office Parking Lot & Garage Veterinary Clinic Pet Grooming Service Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,330

Businesses Nearby

Explore this area Business Placement

Demographics for 33603, FL

19,070

Population

9,592

Households

2

Avg Household Size

38

Median Age

39%

College-Educated

90%

High-School Grad

4.1 sq mi

ZIP Area

4,651

Density / Sq Mi

$64,632

Median Household Income

$43,136

Median Earnings

$1,320

Median Rent

$344,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use property with high visibility and income potential.

Where is this mixed-use property located?

The property is located at 5210 N NEBRASKA AVENUE Tampa, FL.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: SH‑Commercial Intensive zoning with CC‑35 Future Land Use allows for diverse development opportunities.; Prime location on Nebraska Avenue near Hillsborough, with high visibility and easy access to I‑275.; Two existing structures provide immediate income potential with a total of 5 residential units, an office, and a storage shed.