Racetrack Road Flex/Industrial
For Sale
$2,693,480
Pending
9945 RACE TRACK, Tampa, FL 33626
Industrial/flex property on Racetrack Road with showroom and office space.
Property Size15,844 SF
Lot Size1.05 Acres
Days on Market105
Property Features for 9945 RACE TRACK
General Information
Standard status
Pending
Size
15,844 SF
Lot size
1.05 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$30,247
Building Details
Building Size
15,844 SF
Year Built
2000
Listing Agency:
Keller Williams Tampa Properties
(727) 410-2896
Listed By:
Alexander Lucke · License #3351552
(727) 410-2896
Source:
Elliman
Added: May 16
Changed: Aug 28
Last Checked: Aug 26 at 11:07AM
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 Keller Williams Tampa Properties
Investment Insights
Based on property information with market context.
Located on Racetrack Road in the Westchase/Oldsmar submarket, this property offers an industrial/flex opportunity. Constructed in 2000, the building has a metal frame and steel frame metal roof system. The property contains approximately 15,844 square feet situated on approximately 45,738 square feet of land with over approximately 240 feet of direct frontage. The building features a combination of warehouse, showroom, office, and covered loading areas. The layout includes approximately 13,364 square feet of warehouse and operational space featuring approximately 16’ clear to beam and approximately 18’ to 21’ clear to ceiling depending on building section. Loading capabilities include two 8’ x 8’ receiving doors, one 12’ x 12’ overhead door, six oversized 12’ x 16’ grade-level overhead doors, and three 7’ x 14’ receiving doors. The property also features two covered drive-through loading/carport areas with canopy heights reaching approximately 20’. The building is serviced by 480-volt three-phase power with multiple electrical panels designed for high-output industrial operations. The front portion of the building features approximately 1,570 square feet of showroom/display area with attached office space, along with approximately 964 square feet of second-floor mezzanine-style office overlooking the warehouse area. The property has excellent visibility, signage exposure, and access to Tampa Road, Hillsborough Avenue, and the Veterans Expressway.
Key Highlights
- Rare owner‑user industrial/flex opportunity in the Westchase/Oldsmar submarket with immediate occupancy.
- High visibility location on Racetrack Road with ±240 feet of frontage and high traffic counts (±19,200 AADT).
- Functional layout with ±13,364 SF of warehouse space, ±1,570 SF of showroom/display area, and ±964 SF of mezzanine office space.
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
$209,103
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
7.76%
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%
$4,182,060
$4.2M
Cap Rate 7%
$2,987,186
$3.0M
Cap Rate 9%
$2,323,367
$2.3M
Market Conditions
NOI Build-Up for 15,844 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
$342.2K $21.60/SF
− Vacancy
−$20.5K −$1.30/SF
EGI
$321.7K $20.30/SF
− OpEx
−$112.6K −$7.11/SF
NOI
$209.1K $13.20/SF
Area
Tampa, FL
Vacancy
6.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$4,182,060
Cap Rate 7%
$2,987,186
Cap Rate 9%
$2,323,367
Alternative Uses
Best Use
Flex RnD
$2.99M
$2.61M – $3.49M
NOI $209,103 @ 7.0% cap · market cap 7.76%
Second Best
Industrial
$2.75M
$2.41M – $3.21M
NOI $192,428 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,384 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33626, FL
31,875
Population
12,392
Households
2.6
Avg Household Size
39
Median Age
64%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
2,591
Density / Sq Mi
$123,580
Median Household Income
$72,888
Median Earnings
$2,127
Median Rent
$506,600
Median Home Value
Market
Vacancy Rate% for Industrial in Tampa, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- LOKO Cuisine — 107 Dunbar Ave, Oldsmar, FL 34677
Frequently Asked Questions
What type of property is this?
Flex space - Industrial/flex property on Racetrack Road with showroom and office space.
Where is this flex space located?
The property is located at 9945 RACE TRACK Tampa, FL.
What is the asking price?
The asking price for this property is $2,693,480.
What are key features of this property?
This property features: Rare owner‑user industrial/flex opportunity in the Westchase/Oldsmar submarket with immediate occupancy.; High visibility location on Racetrack Road with ±240 feet of frontage and high traffic counts (±19,200 AADT).; Functional layout with ±13,364 SF of warehouse space, ±1,570 SF of showroom/display area, and ±964 SF of mezzanine office space.
