Versatile Commercial Property in
For Sale
$1,500,000
Pending
4109 N ARMENIA, Tampa, FL 33607
High-visibility commercial property suitable for medical, retail, or office use.
Property Size3,990 SF
Days on Market128
Property Features for 4109 N ARMENIA
General Information
Standard status
Pending
Size
3,990 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,777
Building Details
Building Size
3,990 SF
Year Built
1984
Stories
1
Listing Agency:
Coldwell Banker
(786) 210-9669
Listed By:
Liset Rodriguez · License #3361538
(786) 210-9669
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Jul 23 at 10:14AM
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 Coldwell Banker
Investment Insights
Based on property information with market context.
This commercial property in Tampa is configured as a medical office, offering potential for various professional uses. Zoned CG, it accommodates medical, administrative, retail, or other office configurations, suitable for owner-users and investors. The building includes two separate suites, providing an opportunity for an owner-user to occupy one suite while generating rental income from the other. Positioned on a high-visibility corridor, the property benefits from strong traffic exposure and convenient access to major roads, surrounding neighborhoods, and local amenities. It is located 1 mile from St. Joseph's Hospital and approximately 5 miles from Tampa International Airport. The existing layout is suited for medical use and can adapt to meet business needs. The property is located outside of a flood zone. The bike score is 65, making it bikeable. The walk score is 50, indicating it is somewhat walkable, and the transit score is 37, suggesting some transit options are available.
Key Highlights
- Prime commercial location in Tampa with high visibility and strong traffic exposure.
- Zoned CG, allowing for flexible use as medical, administrative, retail, or other office configurations.
- Two separate suites offer owner‑user opportunity to occupy one suite and generate rental income from the other.**
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
$58,145
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
3.88%
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%
$1,162,900
$1.2M
Cap Rate 7%
$830,643
$830.6K
Cap Rate 9%
$646,056
$646.1K
Market Conditions
NOI Build-Up for 3,990 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
$105.3K $26.40/SF
− Vacancy
−$8.4K −$2.11/SF
EGI
$96.9K $24.29/SF
− OpEx
−$38.8K −$9.72/SF
NOI
$58.1K $14.57/SF
Area
Tampa, FL
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$1,162,900
Cap Rate 7%
$830,643
Cap Rate 9%
$646,056
Alternative Uses
Best Use
Healthcare Medical
$830.6K
$726.8K – $969.1K
NOI $58,145 @ 7.0% cap · market cap 3.88%
Second Best
Office B
$774.6K
$677.8K – $903.7K
NOI $54,224 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$929.6K
$813.4K – $1.08M
NOI $65,069 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,612
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33607, FL
24,767
Population
13,158
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
87%
High-School Grad
9.3 sq mi
ZIP Area
2,663
Density / Sq Mi
$66,404
Median Household Income
$43,404
Median Earnings
$1,771
Median Rent
$316,100
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.
Similar Off Market Nearby
- Humane society — 3607 N Armenia Ave, Tampa, FL 33607
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- Wellswood Midtown Animal Hospital — 4145 N Armenia Ave, Tampa, FL 33607
Frequently Asked Questions
What type of property is this?
Medical Office Space - High-visibility commercial property suitable for medical, retail, or office use.
Where is this medical office space located?
The property is located at 4109 N ARMENIA Tampa, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime commercial location in Tampa with high visibility and strong traffic exposure.; Zoned CG, allowing for flexible use as medical, administrative, retail, or other office configurations.; Two separate suites offer owner‑user opportunity to occupy one suite and generate rental income from the other.**
