Two-Unit Medical Office
For Sale
$899,990
1311-1313 W Fletcher Ave, Tampa, FL 33612
Separate suites provide reception areas, kitchens, bathrooms, and multiple private offices for professional occupancy.
Property Size3,408 SF
Days on Market70
Property Features for 1311-1313 W Fletcher Ave
General Information
Standard status
Active
Size
3,408 SF
Class
B
Property subtype
Office
Building Details
Building Size
3,408 SF
Year Built
1995
Listing Agency:
Grimaldi Commercial Realty Corp
(727) 709-6216
Listed By:
Justin Worthington · License #FL #SL3603509
(727) 709-6216
Source:
Grimaldicommercialrealty
Added: Jun 24
Changed: Aug 31
Last Checked: Aug 31 at 2:01PM
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 Grimaldi Commercial Realty Corp
Investment Insights
Based on property information with market context.
Built in 1995, this 3,408-square-foot office building is divided into two separate suites and carries medical-use zoning. The larger 1,994-square-foot suite includes a reception area, kitchen, bathroom, and six offices. The 1,414-square-foot companion suite offers its own reception area, kitchen, bathroom, six offices, and a mail room.
A 500-square-foot rear deck connects to both suites and overlooks a pond. The property includes ample parking, office park signage on W Fletcher Ave, mature landscaping, and an HOA. Medical practices and attorneys’ offices operate in the surrounding office park, with dining, shopping, and service options nearby. The property is less than a mile from I-275 and is also close to Tampa International Airport.
A 500-square-foot rear deck connects to both suites and overlooks a pond. The property includes ample parking, office park signage on W Fletcher Ave, mature landscaping, and an HOA. Medical practices and attorneys’ offices operate in the surrounding office park, with dining, shopping, and service options nearby. The property is less than a mile from I-275 and is also close to Tampa International Airport.
Key Highlights
- 3,408 SF building divided into two separate office suites
- Medical‑use zoning supports professional and healthcare office configurations
- Main suite measures 1,994 SF; secondary suite measures 1,414 SF
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
$45,149
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
5.02%
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%
$902,980
$903.0K
Cap Rate 7%
$644,986
$645.0K
Cap Rate 9%
$501,656
$501.7K
Market Conditions
NOI Build-Up for 3,408 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
$81.8K $24.00/SF
− Vacancy
−$6.5K −$1.92/SF
EGI
$75.2K $22.08/SF
− OpEx
−$30.1K −$8.83/SF
NOI
$45.1K $13.25/SF
Area
ZIP 33612
Vacancy
8.00%
Lease Rate
$24.00 /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%
$902,980
Cap Rate 7%
$644,986
Cap Rate 9%
$501,656
Alternative Uses
Best Use
Healthcare Medical
$645.0K
$564.4K – $752.5K
NOI $45,149 @ 7.0% cap · market cap 5.02%
Second Best
Office B
$595.5K
$521.0K – $694.7K
NOI $41,683 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$776.3K
$679.3K – $905.7K
NOI $54,343 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Explore this area
Business Placement
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
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.
Frequently Asked Questions
What type of property is this?
Office building - Separate suites provide reception areas, kitchens, bathrooms, and multiple private offices for professional occupancy.
Where is this office building located?
The property is located at 1311-1313 W Fletcher Ave Tampa, FL.
What is the asking price?
The asking price for this property is $899,990.
What are key features of this property?
This property features: 3,408 SF building divided into two separate office suites; Medical‑use zoning supports professional and healthcare office configurations; Main suite measures 1,994 SF; secondary suite measures 1,414 SF
