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    Hyde Park Condo with Bay Views Title is generated by Realmo AI

    2109 BAYSHORE BOULEVARD 602, Tampa, FL 33606

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    For Sale
    $235,000

    Renovated one-bedroom condo with bay views and modern amenities.

    Type:Condo/Townhome
    Property size:
    494 SF
    Price / SF:
    $475/SF
    Added:
    Jan 19, 2025
    Days on Market:
    501
    Last Refresh:
    May 19 at 9:34 pm

    Property Features for 2109 BAYSHORE BOULEVARD 602

    General Information

    Standard status
    Active
    Size
    494 SF
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1924

    We can help!

    Listing Contact
    Pamela Reyes

    Listing agent Pamela Reyes License #3352101

    Listing office PREMIER PROPERTIES OF SRQ LLC

    Listing date Jan 19, 2025

    Source Exitrealty

    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 PREMIER PROPERTIES OF SRQ LLC

    HighLights

    • Enjoy panoramic bay and sunrise views from your large 6th‑floor balcony.
    • Prime location on Bayshore Blvd, walking distance to Hyde Park Village and restaurants.
    • Tastefully renovated with modern updates including an updated kitchen and bathroom with a rain shower system.
    • Building amenities include a large pool, BBQ grill, dry sauna, laundry facility, and bike storage.
    • HOA fee includes water, sewer, trash, security, parking, and pest control.
    • High ceilings (9.5 ft) and new flooring.

    Overview

    Located in Hyde Park, this one-bedroom, one-bath condo offers water views from the 6th floor. The renovated condo features panoramic bay views and sunrises, as well as views of Downtown Tampa from the large balcony. The condo has high ceilings (9.5 ft), an updated kitchen, new flooring, and a completely updated bathroom with a Rain Shower System (with body jets). The HVAC system was replaced in 2019. Building amenities include a large pool surrounded by landscaping, a BBQ grill, a dry sauna, a laundry facility, and bike storage. The HOA fee covers water, sewer, trash, security, parking, and pest control. Situated on Bayshore Blvd., the building is within walking distance of Hyde Park Village and restaurants. The location provides access to Gasparilla festivities and views of the parade. The building is located near Tampa General Hospital, MacDill Airforce Base, and Downtown or Amelie Arena. The property size is 494 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Steve Rupert Mediations Mediation Service WTM Management Business Management Consultant RCB Financial Corporation Financial Advisor Bayshore Royal Condominium Condominium Complex Scene Menu Marketing & Advertising

    Suggested Use

    Law Firm Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4827364
    Latitude
    27.9265217

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    FAQs

    What type of property is this?
    Residential income property - Renovated one-bedroom condo with bay views and modern amenities.
    Where is this residential income property located?
    The property is located at 2109 BAYSHORE BOULEVARD 602 Tampa, FL.
    What is the asking price?
    The asking price for this property is $235,000.
    What are key features of this property?
    This property features: Enjoy panoramic bay and sunrise views from your large 6th‑floor balcony.; Prime location on Bayshore Blvd, walking distance to Hyde Park Village and restaurants.; Tastefully renovated with modern updates including an updated kitchen and bathroom with a rain shower system.
    (305) 710-0011
    We can help!
    Listing Contact
    Pamela Reyes
    Real Estate License ID: 3352101
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    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.

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    2109 BAYSHORE BOULEVARD 602, TAMPA, FL 33606
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