Multifamily Property with Office
For Sale
$1,100,000
5210 N NEBRASKA Avenue, Tampa, FL 33603
Commercial Sale, TAMPA, FL
Property Size3,437 SF
Lot Size0.25 Acres
Price / SF$320.05
Days on Market898
Property Features for 5210 N NEBRASKA Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
SH-CI
Subdivision
WITCHMERE
Directions
I-275 N to Exit 47 Hillsborough Ave turn right, right on Nebraska and the property will be on the right.
Standard status
Active
APN
A-01-29-18-4FY-000004-00004.3
Size
3,437 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
WITCHMERE N 60 FT OF E 180 FT OF LOT 4 BLOCK 4
Tax Annual Amount
5506
Legal Description
WITCHMERE N 60 FT OF E 180 FT OF LOT 4 BLOCK 4
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1913
Floors in Building
2
Number of units
2
Building materials
Block, Frame
Roof type
Metal
Listing Agency:
RE/MAX REALTY UNLIMITED · RE/MAX International
(813) 684-0016
Listed By:
Charmaine Blake · License #3033914
(813) 787-7012
Added: Mar 16, 2024
Changed: Aug 24
Last Checked: Aug 30 at 6:06AM
MLS# T3512270
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,437-square-foot multifamily property occupies a 0.25-acre parcel with two structures, five residential units, an office component, and a storage shed. The first building combines two efficiency units with a small retail/office area and bathroom, while its rear portion contains four bedrooms and three bathrooms. The second building is configured as a duplex with a one-bedroom, one-bath unit downstairs and an efficiency unit above.
The property fronts Nebraska Avenue near Hillsborough Avenue, with Interstate 275 less than one mile away. Urgent care, Walmart, and restaurants are located nearby. Zoning is SH-CI, with Future Land Use designation CC-35. The site has public water and public sewer, block and frame construction, a metal roof, ductless heating, and window or wall/window cooling. A new roof and fence are also in place.
The property fronts Nebraska Avenue near Hillsborough Avenue, with Interstate 275 less than one mile away. Urgent care, Walmart, and restaurants are located nearby. Zoning is SH-CI, with Future Land Use designation CC-35. The site has public water and public sewer, block and frame construction, a metal roof, ductless heating, and window or wall/window cooling. A new roof and fence are also in place.
Key Highlights
- 3,437‑square‑foot multifamily property on a 0.25‑acre parcel
- Two structures with five residential units, office space, and a storage shed
- SH‑CI zoning with CC‑35 Future Land Use designation
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
$46,709
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
4.25%
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%
$934,180
$934.2K
Cap Rate 7%
$667,271
$667.3K
Cap Rate 9%
$518,989
$519.0K
Market Conditions
NOI Build-Up for 3,437 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
$82.5K $24.00/SF
− Vacancy
−$20.2K −$5.88/SF
EGI
$62.3K $18.12/SF
− OpEx
−$15.6K −$4.53/SF
NOI
$46.7K $13.59/SF
Area
Tampa, FL
Vacancy
24.50%
Lease Rate
$24.00 /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%
$934,180
Cap Rate 7%
$667,271
Cap Rate 9%
$518,989
Alternative Uses
Best Use
Office B
$667.3K
$583.9K – $778.5K
NOI $46,709 @ 7.0% cap · market cap 4.25%
Second Best
Retail
$584.6K
$511.6K – $682.1K
NOI $40,924 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$800.7K
$700.6K – $934.2K
NOI $56,051 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Paved road access
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 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?
Multifamily property - Five residential units, office space, and a storage shed occupy two structures on a quarter-acre Tampa parcel.
Where is this multifamily 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: 3,437‑square‑foot multifamily property on a 0.25‑acre parcel; Two structures with five residential units, office space, and a storage shed; SH‑CI zoning with CC‑35 Future Land Use designation
