Versatile Office Building on 5.22
For Sale
$11,500,000
6801 E HILLSBOROUGH AVENUE, Tampa, FL 33610
79,728 SF office building near I-4 and I-75.
Property Size79,728 SF
Lot Size5.22 Acres
Price / SF$144.24
Days on Market490
Property Features for 6801 E HILLSBOROUGH AVENUE
General Information
Standard status
Active
Size
79,728 SF
Lot size
5.22 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$182,553
Amenities
Central air
Drainage Canal
Pool
Public Pool
Basement
Built-Up Roof
Central Air Cooling
Over 30 Spaces
Secured
Building Details
Year Built
1982
Listing Agency:
SUNCOAST REALTY SOLUTIONS, LLC
(813) 280-4510
Listed By:
BRANDI GABBARD · License #3112912
Source:
Corcoran
Added: Apr 11, 2025
Changed: Aug 12
Last Checked: Aug 12 at 7:15AM
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 SUNCOAST REALTY SOLUTIONS, LLC
Investment Insights
Based on property information with market context.
This 79,728 square-foot office building is located on a 5.22-acre plot near the I4/Orient Road Exit and I75. The property features an East and West Annex three-story office building with a breezeway between wings, plus an additional mailroom/warehouse building. The property is suitable for redevelopment or continued use in its current state. Ample parking is available on site, including secured surface and under-building parking, plus visitor parking.
Key Highlights
- Strategically located on 5.22 acres near I4/Orient Road Exit and I75.
- Substantial 79,728 square foot office building.
- Ideal for redevelopment or continued use.
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
$938,902
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
8.16%
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%
$18,778,040
$18.8M
Cap Rate 7%
$13,412,886
$13.4M
Cap Rate 9%
$10,432,244
$10.4M
Market Conditions
NOI Build-Up for 79,728 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
$1.66M $20.88/SF
− Vacancy
−$412.9K −$5.18/SF
EGI
$1.25M $15.70/SF
− OpEx
−$313.0K −$3.93/SF
NOI
$938.9K $11.78/SF
Area
ZIP 33610
Vacancy
24.80%
Lease Rate
$20.88 /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%
$18,778,040
Cap Rate 7%
$13,412,886
Cap Rate 9%
$10,432,244
Alternative Uses
Best Use
Office B
$13.41M
$11.74M – $15.65M
NOI $938,902 @ 7.0% cap · market cap 8.16%
Second Best
Warehouse
$8.89M
$7.78M – $10.37M
NOI $622,484 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$18.39M
$16.09M – $21.45M
NOI $1,287,193 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Explore this area
Business Placement
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
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 building - 79,728 SF office building near I-4 and I-75.
Where is this office building located?
The property is located at 6801 E HILLSBOROUGH AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: Strategically located on 5.22 acres near I4/Orient Road Exit and I75.; Substantial 79,728 square foot office building.; Ideal for redevelopment or continued use.
