Industrial Flex Warehouse with
For Sale
$2,693,480
9945 Race Track Road TAMPA, Tampa, FL 33626
Owner-user industrial flex building with warehouse, showroom, office, and covered drive-through loading areas.
Property Size15,844 SF
Lot Size1.05 Acres
Price / SF$170
Days on Market39
Property Features for 9945 Race Track Road TAMPA
General Information
Standard status
Active
Size
15,844 SF
Lot size
1.05 Acres
Zoning
CI
Site & Location
Traffic Count
19,200 vehicles/day
Highway Access
Yes
Warehouse & Industrial
Clear Height
21 ft
Dock-High Doors
2
Drive-In Doors
10
Heavy Power
Yes
Taxes and HOA fees
Annual Taxes
$30,247
Amenities
Public Records
false
1.05
Asphalt
Slab
City Street
15844
1
Building Details
Building Size
15,844 SF
Year Built
2000
Buildings
1
Stories
2
Listing Agency:
(904) 569-5862
Listed By:
Anthony Gotham
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 14 at 7:55AM
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.
9945 Race Track Road presents an industrial/flex building with a combined warehouse, showroom, office, and covered loading configuration. Built in 2000, the property features metal frame construction with a steel roof system and includes approximately 13,364 SF of warehouse and operational space with clear heights of about 16' to the underside of beam and roughly 18' to 21' to the ceiling. Loading is supported by a mix of door types, including 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 front portion includes approximately 1,570 SF of showroom/display with attached office, plus approximately 964 SF of second-floor mezzanine-style office overlooking the warehouse. Two covered drive-through loading/carport areas provide canopy height of approximately 20'. The building also has 480-volt three-phase power with multiple electrical panels.
The property is located along highly traveled Race Track Road within the Westchase/Oldsmar submarket, offering over 240 feet of direct frontage. It is positioned for convenient access to Tampa Road, Hillsborough Avenue, and the Veterans Expressway, supporting visibility and signage exposure.
Quality Plus Cleaners currently occupies the building, and the property will be delivered vacant at closing, making it well-suited for an owner-operator seeking immediate occupancy. With both warehouse capacity and dedicated showroom and office space, the layout supports businesses that need functional operations alongside customer-facing display and administrative areas.
The property is located along highly traveled Race Track Road within the Westchase/Oldsmar submarket, offering over 240 feet of direct frontage. It is positioned for convenient access to Tampa Road, Hillsborough Avenue, and the Veterans Expressway, supporting visibility and signage exposure.
Quality Plus Cleaners currently occupies the building, and the property will be delivered vacant at closing, making it well-suited for an owner-operator seeking immediate occupancy. With both warehouse capacity and dedicated showroom and office space, the layout supports businesses that need functional operations alongside customer-facing display and administrative areas.
Key Highlights
- Owner‑occupied industrial/flex building on Racetrack Road; delivered vacant at closing for immediate occupancy
- Approximately 15,844 SF building on 1.05 acres (45,738 SF lot) with 240+ ft of direct frontage on asphalt city street
- Warehouse and operational space totals about 13,364 SF with 16' clear to beam and 18'–21' clear to ceiling
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
$233,662
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
8.68%
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%
$4,673,240
$4.7M
Cap Rate 7%
$3,338,029
$3.3M
Cap Rate 9%
$2,596,244
$2.6M
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
$290.9K $18.36/SF
− Vacancy
−$16.0K −$1.01/SF
EGI
$274.9K $17.35/SF
− OpEx
−$41.2K −$2.60/SF
NOI
$233.7K $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%
$4,673,240
Cap Rate 7%
$3,338,029
Cap Rate 9%
$2,596,244
Alternative Uses
Best Use
Warehouse
$3.34M
$2.92M – $3.89M
NOI $233,662 @ 7.0% cap · market cap 8.68%
Second Best
Office B
$3.08M
$2.69M – $3.59M
NOI $215,320 @ 7.0% cap · market cap 7.99%
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
Lease Details
21 ft
Clear height
2
Dock-high doors
10
Drive-in doors
19,200 VPD
Traffic count
Yes
Heavy power
Yes
Highway access
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 Office 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 - Owner-user industrial flex building with warehouse, showroom, office, and covered drive-through loading areas.
Where is this flex space located?
The property is located at 9945 Race Track Road TAMPA 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: Owner‑occupied industrial/flex building on Racetrack Road; delivered vacant at closing for immediate occupancy; Approximately 15,844 SF building on 1.05 acres (45,738 SF lot) with 240+ ft of direct frontage on asphalt city street; Warehouse and operational space totals about 13,364 SF with 16' clear to beam and 18'–21' clear to ceiling
