PD-Zoned Restaurant Development
For Sale
$3,900,000
1504 S Howard Avenue TAMPA, Tampa, FL 33606
PD-zoned parcel with an approved restaurant plan and parking for 47 near Hyde Park and Bayshore.
Property Size23,991 SF
Lot Size0.50 Acres
Price / SF$162.56
Days on Market47
Property Features for 1504 S Howard Avenue TAMPA
General Information
Standard status
Active
Size
23,991 SF
Total Parking Spaces
47
Lot size
0.50 Acres
Zoning
PD
Taxes and HOA fees
Annual Taxes
$49,084
Amenities
1
Public Records
true
23991
0.56
false
Asphalt
Other
Business District,City Street,Main Throrughfare
Building Details
Building Size
23,991 SF
Year Built
1957
Buildings
1
Stories
1
Listing Agency:
(904) 569-5862
Listed By:
Morgan Friesen
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 7
Changed: Aug 22
Last Checked: Aug 22 at 3:29AM
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 Morgan Friesen
Investment Insights
Based on property information with market context.
This offering presents a PD-zoned development parcel of approximately half an acre, currently approved for restaurant use. Included are architectural plans for an interior restaurant concept totaling 7,800 square feet with seating for 185, along with a 600-square-foot patio seating area. On-site parking is planned for 47 spaces to support the proposed operation, and the plans are included to help a buyer move forward with development efficiently.
The property includes a house located at 1401 DeSoto, built in 1957, totaling 2,550 square feet, and it provides multiple frontages: 59 feet on DeSoto and 232 feet each on Howard and Hills. The parcel is described as being in South Tampa’s SOHO area, steps away from Hyde Park and Bayshore Blvd, with surrounding established residential neighborhoods plus retail, dining, and nightlife.
For restaurateurs, owner-users, and investors, the combination of PD zoning and a ready, approved restaurant framework supports a straightforward path to develop a dining concept with indoor and outdoor seating, supported by on-site parking. The PD designation is described as offering flexibility to combine residential, commercial, institutional, recreational, and other uses, which can be useful for tailoring a future site plan within the planned development framework.
The property includes a house located at 1401 DeSoto, built in 1957, totaling 2,550 square feet, and it provides multiple frontages: 59 feet on DeSoto and 232 feet each on Howard and Hills. The parcel is described as being in South Tampa’s SOHO area, steps away from Hyde Park and Bayshore Blvd, with surrounding established residential neighborhoods plus retail, dining, and nightlife.
For restaurateurs, owner-users, and investors, the combination of PD zoning and a ready, approved restaurant framework supports a straightforward path to develop a dining concept with indoor and outdoor seating, supported by on-site parking. The PD designation is described as offering flexibility to combine residential, commercial, institutional, recreational, and other uses, which can be useful for tailoring a future site plan within the planned development framework.
Key Highlights
- 0.56‑acre, 1‑lot parcel in a PD zoning district with approved restaurant use plans
- Approved restaurant seating: 185 seats with 7,800 SF interior and 600 SF patio seating
- Parking for 47 spaces included with the approved restaurant development plan
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
$328,197
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
8.42%
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%
$6,563,940
$6.6M
Cap Rate 7%
$4,688,529
$4.7M
Cap Rate 9%
$3,646,633
$3.6M
Market Conditions
NOI Build-Up for 23,991 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
$460.6K $19.20/SF
− Vacancy
−$23.0K −$0.96/SF
EGI
$437.6K $18.24/SF
− OpEx
−$109.4K −$4.56/SF
NOI
$328.2K $13.68/SF
Area
Tampa, FL
Vacancy
5.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$6,563,940
Cap Rate 7%
$4,688,529
Cap Rate 9%
$3,646,633
Alternative Uses
Best Use
Specialty Retail
$4.69M
$4.10M – $5.47M
NOI $328,197 @ 7.0% cap · market cap 8.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.59M
$4.89M – $6.52M
NOI $391,245 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Dining 21%
Sunoco
Shops & Services
13,815 visits/mo
0.5 miles
Cinnaholic
Dining
4,650 visits/mo
0.5 miles
7-Eleven
Shops & Services
3,441 visits/mo
0.4 miles
Demographics for 33606, FL
22,271
Population
10,918
Households
2
Avg Household Size
30
Median Age
77%
College-Educated
98%
High-School Grad
3.3 sq mi
ZIP Area
6,749
Density / Sq Mi
$113,634
Median Household Income
$46,311
Median Earnings
$1,931
Median Rent
$796,000
Median Home Value
Market
Vacancy Rate% for Retail in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - PD-zoned parcel with an approved restaurant plan and parking for 47 near Hyde Park and Bayshore.
Where is this commercial land located?
The property is located at 1504 S Howard Avenue TAMPA Tampa, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 0.56‑acre, 1‑lot parcel in a PD zoning district with approved restaurant use plans; Approved restaurant seating: 185 seats with 7,800 SF interior and 600 SF patio seating; Parking for 47 spaces included with the approved restaurant development plan
