Fenced Flex Building with Loading
For Sale
$1,499,000
10517 Riverview Dr, Riverview, FL 33578
Masonry flex property with office amenities, gated rear access, paved parking, and a loading dock with ramp access.
Property Size3,920 SF
Price / SF$382.40
Days on Market58
Property Features for 10517 Riverview Dr
General Information
Standard status
Active
Size
3,920 SF
Building Details
Year Built
1967
Listing Agency:
RE/MAX REALTY UNLIMITED
(904) 569-5862
Listed By:
Michael Ginty
Source:
Chenoregroup
Added: Jul 4
Changed: Aug 30
Last Checked: Aug 25 at 4:17AM
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 RE/MAX REALTY UNLIMITED
Investment Insights
Based on property information with market context.
This masonry flex property was built in 1967 and includes several large rooms, a reception area, kitchen, and 3 bathrooms. The building has a loading dock with rear ramp access, while gated access along the side leads to open storage behind the structure. A 250 amp electrical service supports the property, and the site includes a fenced, fully paved asphalt area with parking in front.
The property fronts Riverview Drive west of US 301 in Riverview, Florida, along a connector between US 301 and US 41. It is identified with RDD-DT1 zoning and is situated near public transit. The surrounding context includes a suburban setting, a main thoroughfare, paved public streets, and county-road access.
The property fronts Riverview Drive west of US 301 in Riverview, Florida, along a connector between US 301 and US 41. It is identified with RDD-DT1 zoning and is situated near public transit. The surrounding context includes a suburban setting, a main thoroughfare, paved public streets, and county-road access.
Key Highlights
- Masonry flex building constructed in 1967
- Loading dock with rear ramp access
- 3 bathrooms, kitchen, reception area, and several large rooms
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
$58,036
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
3.87%
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%
$1,160,720
$1.2M
Cap Rate 7%
$829,086
$829.1K
Cap Rate 9%
$644,844
$644.8K
Market Conditions
NOI Build-Up for 3,920 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
$88.4K $22.56/SF
− Vacancy
−$11.1K −$2.82/SF
EGI
$77.4K $19.74/SF
− OpEx
−$19.3K −$4.94/SF
NOI
$58.0K $14.81/SF
Area
Riverview, FL
Vacancy
12.50%
Lease Rate
$22.56 /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%
$1,160,720
Cap Rate 7%
$829,086
Cap Rate 9%
$644,844
Alternative Uses
Best Use
Office B
$829.1K
$725.5K – $967.3K
NOI $58,036 @ 7.0% cap · market cap 3.87%
Second Best
Flex RnD
$482.2K
$422.0K – $562.6K
NOI $33,756 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,577 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33578, FL
58,854
Population
25,850
Households
2.3
Avg Household Size
35
Median Age
37%
College-Educated
94%
High-School Grad
20.4 sq mi
ZIP Area
2,885
Density / Sq Mi
$80,223
Median Household Income
$46,967
Median Earnings
$1,766
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- DiMisa™️ 721 Gourmet Catering — 8205 US-301 South, Riverview, FL 33578
- Coastal Café — 7409 US-301, Riverview, FL 33578
Frequently Asked Questions
What type of property is this?
Flex space - Masonry flex property with office amenities, gated rear access, paved parking, and a loading dock with ramp access.
Where is this flex space located?
The property is located at 10517 Riverview Dr Riverview, FL.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Masonry flex building constructed in 1967; Loading dock with rear ramp access; 3 bathrooms, kitchen, reception area, and several large rooms
