Business Professional Office Building For
For Sale
Contact for pricing
1345 N Falkenburg Rd, Tampa, FL 33619
Business Professional Office Building with street frontage in Tampa, FL.
Property Size5,638 SF
Lot Size0.52 Acres
Price / SF$212.84
Days on Market154
Property Features for 1345 N Falkenburg Rd
General Information
Standard status
Active
Size
5,638 SF
Lot size
0.52 Acres
Property subtype
Office
Zoning
BPO
Building Details
Year Renovated
2021
Listing Agency:
Turner Cole Company
Listed By:
Joe Cole · License #FL BK3056701
Source:
Crexi
Added: Mar 23
Changed: Aug 8
Last Checked: Aug 22 at 3:56AM
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 Turner Cole Company
Investment Insights
Based on property information with market context.
This Business Professional Office Building is located on N Falkenburg Rd in Tampa, FL. The property is zoned BPO Business Professional Office, making it suitable for professional and medical use. The gross building area measures 5,638 square feet, which includes a 4,373-square-foot heated office area. The property is situated on a 22,500 square foot (approximately 1/2 acre) lot. It features a front and gated parking lot.
Key Highlights
- Prime location on N Falkenburg Rd in Tampa, FL with high street frontage.
- BPO (Business Professional Office) Zoning suitable for professional and medical use.
- Spacious 5,638 sq ft gross building area, including 4,373 sq ft of heated office space.
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
$76,620
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
6.39%
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%
$1,532,400
$1.5M
Cap Rate 7%
$1,094,571
$1.1M
Cap Rate 9%
$851,333
$851.3K
Market Conditions
NOI Build-Up for 5,638 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
$135.3K $24.00/SF
− Vacancy
−$33.2K −$5.88/SF
EGI
$102.2K $18.12/SF
− OpEx
−$25.5K −$4.53/SF
NOI
$76.6K $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%
$1,532,400
Cap Rate 7%
$1,094,571
Cap Rate 9%
$851,333
Alternative Uses
Best Use
Office B
$1.09M
$957.8K – $1.28M
NOI $76,620 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,945 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
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 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 - Business Professional Office Building with street frontage in Tampa, FL.
Where is this office building located?
The property is located at 1345 N Falkenburg Rd Tampa, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime location on N Falkenburg Rd in Tampa, FL with high street frontage.; BPO (Business Professional Office) Zoning suitable for professional and medical use.; Spacious 5,638 sq ft gross building area, including 4,373 sq ft of heated office space.
