Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1001 N Franklin St Tampa, FL 33602

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,500,000

    Prime commercial land for redevelopment in downtown Tampa.

    Lot size:
    0.13 Acres

    Property Features for 1001 N Franklin St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.13 Acres

    Building Details

    Year built
    1905

    We can help!

    Listing Contact
    Michael Palermo
    Michael Palermo
    Source: Elliman

    Listing Agency: PALERMO REAL ESTATE PROF. INC. Listing Agent: Michael Palermo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Downtown Tampa Redevelopment Opportunity

    This property presents a redevelopment opportunity in downtown Tampa. The current zoning (CBD-1) allows for medium to high-rise development without floor area ratio (FAR) restrictions. Situated at the northeast corner of Franklin Street and Tyler Street, the location at 1001 N. Franklin St. is in the heart of downtown Tampa. The surrounding area includes luxury high-rise apartments, dining and entertainment venues, and the newly renovated Herman Massey Park across the street. This commercial land is suitable for commercial real estate development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Real Estate Agency Daycare Center Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4597117
    Latitude
    27.9524178

    Nearby Similar for Sale

    • $799,000
      3,000 SF

      Versatile Office Building in Tampa

      Two-story office building in Carrollwood submarket, ideal for investors.
      3804 Gunn Hwy, Tampa, FL 33618
      View Details
    • $750,000
      3,000 SF

      Versatile Office Condo in Tampa

      Two-story office condo with flexible space in Carrollwood submarket.
      3816 Gunn Hwy, Tampa, FL 33618
      View Details
    • $400,000
      2,882 SF

      Versatile Tampa Commercial Opportunity

      Unique property suitable for retail, office, or redevelopment.
      2222 E Dr Martin Luther King Jr Blvd, Tampa, FL 33610
      View Details
    • $875,000
      3,160 SF

      Linebaugh Avenue Professional Office Suites

      Two contiguous office suites in a high-traffic Tampa corridor.
      6938 W Linebaugh Ave, Tampa, FL 33625
      View Details
    • $500,000
      2,763 SF

      East Tampa Commercial Opportunity

      Pharmacy space in a bustling commercial corridor.
      3302 E Dr Martin Luther King Jr Blvd, Tampa, FL 33610
      View Details
    • $375,000
      1,274 SF

      Turnkey Office Condo in Tampa

      Move-in ready office condo in a prime Tampa location.
      5404 Hoover Blvd, Tampa, FL 33634
      View Details
    • $750,000
      4,028 SF

      Prime Commercial Property in Tampa

      Strategically located commercial property with accessibility, visibility, and versatility.
      3546 N 40Th St, Tampa, FL 33605
      View Details
    • $900,000
      Pending

      Westchase Professional Office Duplex

      3,000 sq ft professional office duplex in Westchase, Tampa.
      10941 Countryway Blvd, Tampa, FL 33626
      View Details
    • $699,000
      1,866 SF

      Tampa Commercial Property with CI Zoning

      Commercial property with flexible zoning and income potential in Tampa.
      3607 E Mohawk Ave, Tampa, FL 33610
      View Details
    • $895,000
      3,189 SF

      Professional Office Building on Gunn Highway

      Well-maintained office building in a desirable Tampa location.
      8345 Gunn Hwy, Tampa, FL 33626
      View Details
    • New
      $575,000
      1,528 SF

      Versatile Mixed-Use Property in Tampa

      High-visibility commercial mixed-use property with flexibility and upside potential.
      2807 Locicero Dr, Tampa, FL 33619
      View Details
    • $1,550,000
      7,342 SF

      North Tampa Commercial Building For Sale

      7,324 SF commercial building with three units and detached garage.
      8202 N Armenia Ave, Tampa, FL 33604
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial land for redevelopment in downtown Tampa.
    Where is this commercial land located?
    The property is located at 1001 N Franklin St Tampa, FL.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - Prime downtown Tampa location at the NE corner of Franklin Street and Tyler Street; - Redevelopment opportunity with CBD-1 zoning allowing medium to high-rise development; - No FAR (Floor Area Ratio) restrictions for development
    (813) 637-0117
    Request Owner's contact information
    1001 N Franklin St Tampa, FL 33602
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1001 N Franklin St
    Tampa, FL 33602
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1001 N Franklin St Tampa, FL 33602
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael Palermo
    Michael Palermo
    Real Estate License ID: 681569
    (813) 637-0117 (813) 629-3181
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!