Downtown Redevelopment Land
For Sale
$2,500,000
1001 N Franklin Street TAMPA, Tampa, FL 33602
Zoned CBD-1 for medium-to-high-rise development, located on the northeast corner of Franklin and Tyler.
Property Size9,880 SF
Price / SF$258.16
Days on Market42
Property Features for 1001 N Franklin Street TAMPA
General Information
Standard status
Active
Size
9,880 SF
Zoning
CBD-1
Taxes and HOA fees
Annual Taxes
$12,073
Amenities
2
Public Records
false
5460
52 x 105
0.13
Asphalt,Brick
Slab
Business District,City Street
9880
1
Public Maintained Road
Building Details
Building Size
9,880 SF
Year Built
1905
Buildings
1
Stories
2
Listing Agency:
(904) 569-5862
Listed By:
Anthony Gotham
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 7
Changed: Aug 16
Last Checked: Aug 16 at 1:32PM
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 Anthony Gotham
Investment Insights
Based on property information with market context.
The property at 1001 N. Franklin Street is a redevelopment site located in downtown Tampa. Current zoning is CBD-1, which allows medium to high-rise development with no FAR restrictions, supporting a range of vertical project concepts consistent with the area’s denser built form.
Situated on the northeast corner of Franklin Street and Tyler Street, the site is positioned amid active downtown uses. The area includes luxury high-rise apartments, dining and entertainment venues, and the newly renovated Herman Massey Park across the street.
This parcel is best suited for developers and land buyers focused on assembling a downtown footprint for higher-density, medium-to-high-rise development under CBD-1. With zoning not imposing FAR limits, it offers straightforward planning flexibility for a project aligned with the district’s established mix of residential and entertainment-oriented activity. Redevelopment-minded investors and owner-operators should review CBD-1 requirements in detail to confirm design, site planning, and any project-specific constraints prior to moving forward.
Situated on the northeast corner of Franklin Street and Tyler Street, the site is positioned amid active downtown uses. The area includes luxury high-rise apartments, dining and entertainment venues, and the newly renovated Herman Massey Park across the street.
This parcel is best suited for developers and land buyers focused on assembling a downtown footprint for higher-density, medium-to-high-rise development under CBD-1. With zoning not imposing FAR limits, it offers straightforward planning flexibility for a project aligned with the district’s established mix of residential and entertainment-oriented activity. Redevelopment-minded investors and owner-operators should review CBD-1 requirements in detail to confirm design, site planning, and any project-specific constraints prior to moving forward.
Key Highlights
- Zoned CBD‑1 for medium to high‑rise development (no FAR restrictions stated)
- Located on the NE corner of Franklin St and Tyler St at 1001 N Franklin St in downtown Tampa
- 1905 building on a 0.13‑acre lot (52 x 105) with slab foundation
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
$142,816
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
5.71%
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%
$2,856,320
$2.9M
Cap Rate 7%
$2,040,229
$2.0M
Cap Rate 9%
$1,586,844
$1.6M
Market Conditions
NOI Build-Up for 9,684 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
$177.8K $18.36/SF
− Vacancy
−$9.8K −$1.01/SF
EGI
$168.0K $17.35/SF
− OpEx
−$25.2K −$2.60/SF
NOI
$142.8K $14.75/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
15.00%
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%
$2,856,320
Cap Rate 7%
$2,040,229
Cap Rate 9%
$1,586,844
Alternative Uses
Best Use
Warehouse
$2.04M
$1.79M – $2.38M
NOI $142,816 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.97M – $2.63M
NOI $157,927 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 33602, FL
19,936
Population
11,972
Households
1.7
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
2.6 sq mi
ZIP Area
7,668
Density / Sq Mi
$88,569
Median Household Income
$66,434
Median Earnings
$2,119
Median Rent
$560,400
Median Home Value
Market
Vacancy Rate% for Industrial in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Zoned CBD-1 for medium-to-high-rise development, located on the northeast corner of Franklin and Tyler.
Where is this commercial land located?
The property is located at 1001 N Franklin Street TAMPA Tampa, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Zoned CBD‑1 for medium to high‑rise development (no FAR restrictions stated); Located on the NE corner of Franklin St and Tyler St at 1001 N Franklin St in downtown Tampa; 1905 building on a 0.13‑acre lot (52 x 105) with slab foundation
