Small-Bay Industrial with Dual
For Sale
$2,200,000
2515 N 71st St, Tampa, FL 33619
Two warehouse buildings with dedicated office and restroom areas, recently served by a brand-new roof replacement.
Property Size15,000 SF
Days on Market46
Property Features for 2515 N 71st St
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Commercial
Net Operating Income
$94,000
Building Details
Building Size
15,000 SF
Year Built
1986
Units
2
Listing Agency:
Matthews Real Estate Investment Services, Inc
(813) 692-6560
Listed By:
Dylan Batlle · License #SL3600502 (FL)
(813) 692-6560
Source:
Matthews
Added: Jun 28
Changed: Aug 8
Last Checked: Aug 11 at 4:38AM
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 Matthews Real Estate Investment Services, Inc
Investment Insights
Based on property information with market context.
Offered for sale, this small-bay industrial property includes warehouse buildings positioned along the north and south boundaries, designed to maximize use of the available site area. Each building provides its own office area and restroom, supporting operational flexibility and potential multi-tenant functionality. The property is currently leased to a month-to-month tenant.
Recent capital improvements include a full roof replacement completed within the last 60 days, including new insulation and gutters. The listing also notes that the property is priced with consideration of replacement-cost economics.
Located at 2515 N 71st St in Tampa, the asset is described in the offering materials as one of the few value-add warehouse opportunities under 15,000 SF in the 33619 ZIP code.
Recent capital improvements include a full roof replacement completed within the last 60 days, including new insulation and gutters. The listing also notes that the property is priced with consideration of replacement-cost economics.
Located at 2515 N 71st St in Tampa, the asset is described in the offering materials as one of the few value-add warehouse opportunities under 15,000 SF in the 33619 ZIP code.
Key Highlights
- Two warehouse buildings in Tampa’s 33619 ZIP code, under 15,000 SF, each with dedicated office and restroom areas
- Brand‑new roof replacement completed within the last 60 days, including new insulation and gutters
- Currently leased to a month‑to‑month tenant at a below‑market rental rate
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
$197,964
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
9.00%
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%
$3,959,280
$4.0M
Cap Rate 7%
$2,828,057
$2.8M
Cap Rate 9%
$2,199,600
$2.2M
Market Conditions
NOI Build-Up for 15,000 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
$324.0K $21.60/SF
− Vacancy
−$19.4K −$1.30/SF
EGI
$304.6K $20.30/SF
− OpEx
−$106.6K −$7.11/SF
NOI
$198.0K $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%
$3,959,280
Cap Rate 7%
$2,828,057
Cap Rate 9%
$2,199,600
Alternative Uses
Best Use
Warehouse
$3.16M
$2.77M – $3.69M
NOI $221,215 @ 7.0% cap · market cap 10.06%
Second Best
Flex RnD
$2.83M
$2.47M – $3.30M
NOI $197,964 @ 7.0% cap · market cap 9.00%
Theoretical Best
Office A
$3.49M
$3.06M – $4.08M
NOI $244,620 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33619, FL
39,881
Population
15,360
Households
2.6
Avg Household Size
35
Median Age
23%
College-Educated
83%
High-School Grad
27.5 sq mi
ZIP Area
1,450
Density / Sq Mi
$63,193
Median Household Income
$38,448
Median Earnings
$1,618
Median Rent
$220,300
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
- America 1 Warehousing — 5823 E Columbus Dr, Tampa, FL 33619
- Four Seasons Self Storage Unit — 5912 E Broadway Ave, Tampa, FL 33619
- Movers Near Me — 2804 n 62nd st, tampa, fl 33619
- United Rentals - Storage Containers and Mobile Offices — 1502 Mckay Bay Ct Ste B, Tampa, FL 33619
- Community Moving & Storage — 1841 Massaro Blvd, Tampa, FL 33619
Frequently Asked Questions
What type of property is this?
Warehouse - Two warehouse buildings with dedicated office and restroom areas, recently served by a brand-new roof replacement.
Where is this warehouse located?
The property is located at 2515 N 71st St Tampa, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two warehouse buildings in Tampa’s 33619 ZIP code, under 15,000 SF, each with dedicated office and restroom areas; Brand‑new roof replacement completed within the last 60 days, including new insulation and gutters; Currently leased to a month‑to‑month tenant at a below‑market rental rate
