Tampa Office Building For
For Sale
Contact for pricing
1403 N Howard Ave, Tampa, FL 33607
Four-story office building in Tampa with on-site parking.
Property Size32,140 SF
Lot Size0.93 Acres
Price / SF$466.71
Days on Market673
Property Features for 1403 N Howard Ave
General Information
Standard status
Active
Size
32,140 SF
Lot size
0.93 Acres
Property subtype
OFFICE
Listing Agency:
William D. Besselieu
(813) 263-5854
Listed By:
William D Besselieu · License #3068945
(813) 263-5854
Source:
Moodyscre
Added: Oct 30, 2024
Changed: Aug 8
Last Checked: Apr 5 at 8:19PM
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.
This four-story office building, also available for lease, is located in the city of Tampa. Constructed in 1904, the building has a square footage of 32,140. It features one elevator and two handicap lifts. Ceiling heights vary by floor: 12 feet 2 inches on the 1st floor, 10 feet 10 inches on the 2nd floor, 9 feet 4 inches on the 3rd floor, and 9 feet 2 inches in the basement. The property includes building and water tower signage. The exterior walls are brick, and the building is equipped with sprinklers and HVAC. There are 138 on-site parking spots, plus 16 street parking spots, on the 1.43-acre lot. The zoning is PD, RS-50, with a future land use designation of CC-35, R-10. Utilities include water from the City of Tampa and electric from TECO. Real estate taxes for 2023 were $88,618.68. The property is vacant upon sale and offers high visibility with traffic counts of 269,000 AADT (I-275 + N Howard Ave). The folio numbers are 177878-0000, 177934-0000, 178104-0000, and 177882-0000.
Key Highlights
- High Visibility: Boasting a traffic count of 269,000 AADT.
- Ample Parking: Benefit from 138 on‑site parking spots plus 16 street parking spots.
- Substantial Size: 32,140 square feet building on 1.43 acres.
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
Property Profile
Current Use
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
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 - Four-story office building in Tampa with on-site parking.
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: High Visibility: Boasting a traffic count of 269,000 AADT.; Ample Parking: Benefit from 138 on‑site parking spots plus 16 street parking spots.; Substantial Size: 32,140 square feet building on 1.43 acres.
