Freestanding Building on Hillsborough
1515 W Hillsborough Ave, Tampa, FL
For Sale
Contact for pricing
2,416 SF building on a 14,027 SF lot.
Property Size2,416 SF
Lot Size0.36 Acres
Price / SF$297.60
Days on Market353
Property Features for 1515 W Hillsborough Ave
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Listing Agency:
Bay Street Commercial
Listed By:
Michael Braccia, P.A. · License FL SL3033512
(813) 625-2375
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Nov 8
Last Checked: Nov 12 at 5:57AM
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 Bay Street Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,416 square foot freestanding building is situated on a 14,027 square foot lot zoned CG (Commercial General). The property is located on West Hillsborough Avenue, east of Rome Avenue, between the Wellswood and Seminole Heights neighborhoods. The site is fully fenced and features an electric security gate, along with 13 parking spaces. Formerly a lab, the building offers retail appeal with storefront glass along Hillsborough Avenue. The interior includes two large open spaces, four private offices, two restrooms, and a break room. A separate storage room is located at the rear of the property. The property also features large, highly visible signage. The traffic count is 56,500 vehicles per day.
Key Highlights
- High traffic count of 56,500 VPD on W. Hillsborough Avenue.
- Excellent retail appeal with storefront glass and large, highly visible signage.
- Located on a 14,027 SF CG (Commercial General) zoned lot.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,833
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$656,660
$656.7K
Cap Rate 7%
$469,043
$469.0K
Cap Rate 9%
$364,811
$364.8K
Market Conditions
NOI Build-Up for 2,416 SF
Gross rent
$58.0K $24.00/SF
− Vacancy
−$14.2K −$5.88/SF
EGI
$43.8K $18.12/SF
− OpEx
−$10.9K −$4.53/SF
NOI
$32.8K $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 Rate 5%
$656,660
Cap Rate 7%
$469,043
Cap Rate 9%
$364,811
Alternative Uses
Best Use
Office B
$469.0K
$410.4K – $547.2K
NOI $32,833 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$562.9K
$492.5K – $656.7K
NOI $39,400 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Tampa, FL
Properties on Market for Office buildings in Tampa
Vacancy Rate% for Office in Tampa, FL
Frequently Asked Questions
What type of property is this?
Office building - 2,416 SF building on a 14,027 SF lot.
Where is this office building located?
The property is located at 1515 W Hillsborough Ave Tampa, FL.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: High traffic count of 56,500 VPD on W. Hillsborough Avenue.; Excellent retail appeal with storefront glass and large, highly visible signage.; Located on a 14,027 SF CG (Commercial General) zoned lot.
