Leased Medical Office End
For Sale
$1,499,900
10960 Sheldon Road TAMPA, Tampa, FL 33626
Fully leased two-suite medical office end unit with 2022 roof replacement and prominent pylon and building signage.
Property Size5,090 SF
Lot Size0.12 Acres
Price / SF$294.68
Days on Market55
Property Features for 10960 Sheldon Road TAMPA
General Information
Standard status
Active
Size
5,090 SF
Lot size
0.12 Acres
Zoning
PD/Planned Development
Occupancy
100%
Site & Location
Traffic Count
30,000 vehicles/day
Road Access
Yes
Utilities to Site
Yes
Additional Details
Cap Rate
5.5%
Office Units
2
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
(904) 569-5862
Listed By:
Richard Petersen
(904) 569-5862
Source:
Movetojacksonville
Added: Jun 30
Changed: Jul 6
Last Checked: Aug 22 at 3:28AM
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 Richard Petersen
Investment Insights
Based on property information with market context.
This fully leased medical office building was built in 2005 and features concrete block construction. The property includes approximately 4,960 square feet and is configured as two equal-sized units. The western unit offers a more open floor plan, while the eastern unit has a more medical-focused buildout with a circular layout. Both suites benefit from ongoing maintenance, and the roof was replaced in 2022.
The building sits at the entrance of Chase Professional Park, with access described as two driveway entrances and northbound turn access. The park includes 14 total buildings, along with parking and signage. The end unit is positioned directly on Sheldon Road, supported by a pylon sign and additional building signage, with traffic counts reported at 30,000+ AADT.
The property is suited for owners seeking a leased medical office asset with practical versatility, as other professional uses are noted including attorney and CPA. It is zoned PD/Planned Development and includes ample parking, along with utilities provided through Hillsborough County for water and sewer and electricity through Tampa Electric. For additional operating details, buyers are directed to request further financial information through a confidentiality agreement.
The building sits at the entrance of Chase Professional Park, with access described as two driveway entrances and northbound turn access. The park includes 14 total buildings, along with parking and signage. The end unit is positioned directly on Sheldon Road, supported by a pylon sign and additional building signage, with traffic counts reported at 30,000+ AADT.
The property is suited for owners seeking a leased medical office asset with practical versatility, as other professional uses are noted including attorney and CPA. It is zoned PD/Planned Development and includes ample parking, along with utilities provided through Hillsborough County for water and sewer and electricity through Tampa Electric. For additional operating details, buyers are directed to request further financial information through a confidentiality agreement.
Key Highlights
- Fully leased 4,960 SF medical office building (concrete block), built in 2005, with two equal +/- sized units
- End unit on Sheldon Road with 30,000+ AADT and signage including a pylon sign and on‑building signage
- Roof replacement completed in 2022; slab foundation; single‑story building with air conditioning
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
$74,176
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
4.95%
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%
$1,483,520
$1.5M
Cap Rate 7%
$1,059,657
$1.1M
Cap Rate 9%
$824,178
$824.2K
Market Conditions
NOI Build-Up for 5,090 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
$134.4K $26.40/SF
− Vacancy
−$10.8K −$2.11/SF
EGI
$123.6K $24.29/SF
− OpEx
−$49.5K −$9.72/SF
NOI
$74.2K $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%
$1,483,520
Cap Rate 7%
$1,059,657
Cap Rate 9%
$824,178
Alternative Uses
Best Use
Healthcare Medical
$1.06M
$927.2K – $1.24M
NOI $74,176 @ 7.0% cap · market cap 4.95%
Second Best
Office B
$988.2K
$864.7K – $1.15M
NOI $69,173 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,008 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
30,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Under-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 Office in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased two-suite medical office end unit with 2022 roof replacement and prominent pylon and building signage.
Where is this medical office space located?
The property is located at 10960 Sheldon Road TAMPA Tampa, FL.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Fully leased 4,960 SF medical office building (concrete block), built in 2005, with two equal +/- sized units; End unit on Sheldon Road with 30,000+ AADT and signage including a pylon sign and on‑building signage; Roof replacement completed in 2022; slab foundation; single‑story building with air conditioning
