Four-Story Office
For Sale
Contact for pricing
1403 N Howard Ave, Tampa, FL 33607
Vacant upon sale with on-site parking, elevator service, and brick exterior construction.
Property Size32,140 SF
Lot Size1.43 Acres
Price / SF$466.71
Days on Market689
Property Features for 1403 N Howard Ave
General Information
Standard status
Active
Size
32,140 SF
Total Parking Spaces
138
Elevators
Yes
Lot size
1.43 Acres
Property subtype
OFFICE
Zoning
PD, RS-50
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Sprinkler System
Yes
Building Details
Year Built
1904
Buildings
1
Stories
4
Building Size
32,140 SF
Construction
brick
Owner Occupied
No
Listing Agency:
William D. Besselieu
Listed By:
William D Besselieu · License #3068945
(813) 263-5854
Source:
Moodyscre
Added: Oct 30, 2024
Changed: Sep 2
Last Checked: Sep 18 at 10:24AM
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 William D. Besselieu
Investment Insights
Based on property information with market context.
The property is a 32,140-square-foot, four-story office building on 1.43 acres, built in 1904. Improvements include brick exterior walls, one elevator with two handicap lifts, HVAC, sprinklers, and building and water tower signage. Ceiling heights are 12′2″ on the first floor, 10′10″ on the second floor, 9′4″ on the third floor, and 9′2″ in the basement. The building will be vacant upon sale.
Located in Tampa at 1403 N Howard Ave, the property has visibility from traffic counts of 269,000 AADT at I-275 and N Howard Ave. Parking includes 138 on-site spaces plus 16 street parking spaces. Zoning is PD and RS-50, with future land use designations of CC-35 and R-10. Water service is provided by the City of Tampa, and electric service is provided by TECO.
Located in Tampa at 1403 N Howard Ave, the property has visibility from traffic counts of 269,000 AADT at I-275 and N Howard Ave. Parking includes 138 on-site spaces plus 16 street parking spaces. Zoning is PD and RS-50, with future land use designations of CC-35 and R-10. Water service is provided by the City of Tampa, and electric service is provided by TECO.
Key Highlights
- 32,140‑square‑foot office building on 1.43 acres
- Four stories with one elevator and two handicap lifts
- 138 on‑site parking spaces plus 16 street parking spaces
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
$436,783
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
2.91%
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%
$8,735,660
$8.7M
Cap Rate 7%
$6,239,757
$6.2M
Cap Rate 9%
$4,853,144
$4.9M
Market Conditions
NOI Build-Up for 32,140 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
$771.4K $24.00/SF
− Vacancy
−$189.0K −$5.88/SF
EGI
$582.4K $18.12/SF
− OpEx
−$145.6K −$4.53/SF
NOI
$436.8K $13.59/SF
Area
Tampa, FL
Vacancy
24.50%
Lease Rate
$24.00 /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%
$8,735,660
Cap Rate 7%
$6,239,757
Cap Rate 9%
$4,853,144
Alternative Uses
Best Use
Office B
$6.24M
$5.46M – $7.28M
NOI $436,783 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.49M
$6.55M – $8.74M
NOI $524,139 @ 7.0% cap · market cap 3.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,303
Businesses Nearby
Explore this area
Business Placement
Demographics for 33607, FL
24,767
Population
13,158
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
87%
High-School Grad
9.3 sq mi
ZIP Area
2,663
Density / Sq Mi
$66,404
Median Household Income
$43,404
Median Earnings
$1,771
Median Rent
$316,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Vacant upon sale with on-site parking, elevator service, and brick exterior construction.
Where is this office building located?
The property is located at 1403 N Howard Ave Tampa, FL.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: 32,140‑square‑foot office building on 1.43 acres; Four stories with one elevator and two handicap lifts; 138 on‑site parking spaces plus 16 street parking spaces
