Vacant Office Building with Hwy
For Sale
$795,000
18843 N Us Highway 41, Lutz, FL 33549
Vacant office building on a 0.82-acre lot with direct frontage on U.S. Highway 41 and requires full rehabilitation.
Property Size3,576 SF
Lot Size0.82 Acres
Price / SF$222.32
Days on Market125
Property Features for 18843 N Us Highway 41
General Information
Standard status
Active
Size
3,576 SF
Lot size
0.82 Acres
Site & Location
Traffic Count
34,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$10,249
Listing Agency:
RE/MAX PREMIER GROUP
(813) 995-1600
Listed By:
Sunny Sidhu · License #3326186
(813) 995-1600
Source:
Exprealty
Added: Apr 26
Changed: Aug 20
Last Checked: Aug 28 at 12:53PM
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 PREMIER GROUP
Investment Insights
Based on property information with market context.
This vacant office building sits on a 0.82-acre lot with direct frontage on U.S. Highway 41. The property requires rehabilitation and is being sold as-is. Known conditions include mold, roof replacement needed, and full interior rehabilitation requirements.
The location is minutes from Dale Mabry Highway and I-275 and is positioned within an established commercial corridor. U.S. Highway 41 carries approximately 33,500–34,000 vehicles per day directly in front of the property, supporting consistent visibility.
The building is currently vacant, and access is restricted. Proof of funds or lender pre-approval must be submitted prior to scheduling, and buyers and their agents must execute the attached Hazardous Property Access & Liability Release Form before accessing the property.
The location is minutes from Dale Mabry Highway and I-275 and is positioned within an established commercial corridor. U.S. Highway 41 carries approximately 33,500–34,000 vehicles per day directly in front of the property, supporting consistent visibility.
The building is currently vacant, and access is restricted. Proof of funds or lender pre-approval must be submitted prior to scheduling, and buyers and their agents must execute the attached Hazardous Property Access & Liability Release Form before accessing the property.
Key Highlights
- Vacant office/commercial building on a 0.82‑acre lot with direct frontage on U.S. Highway 41
- Building requires full rehabilitation; known conditions include mold, roof replacement needed, and full interior rehabilitation required
- Approx. 33,500–34,000 vehicles per day on US Highway 41 directly in front of the property
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
$24,132
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
3.04%
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%
$482,640
$482.6K
Cap Rate 7%
$344,743
$344.7K
Cap Rate 9%
$268,133
$268.1K
Market Conditions
NOI Build-Up for 3,576 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
$39.5K $11.04/SF
− Vacancy
−$7.3K −$2.04/SF
EGI
$32.2K $9.00/SF
− OpEx
−$8.0K −$2.25/SF
NOI
$24.1K $6.75/SF
Area
Hillsborough County, FL
Vacancy
18.50%
Lease Rate
$11.04 /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%
$482,640
Cap Rate 7%
$344,743
Cap Rate 9%
$268,133
Alternative Uses
Best Use
Office B
$344.7K
$301.7K – $402.2K
NOI $24,132 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$906.2K – $1.21M
NOI $72,495 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
34,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 33549, FL
17,816
Population
7,586
Households
2.3
Avg Household Size
44
Median Age
40%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
1,460
Density / Sq Mi
$85,066
Median Household Income
$53,991
Median Earnings
$1,582
Median Rent
$339,400
Median Home Value
Market
Vacancy Rate% for Office in South region
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 - Vacant office building on a 0.82-acre lot with direct frontage on U.S. Highway 41 and requires full rehabilitation.
Where is this office building located?
The property is located at 18843 N Us Highway 41 Lutz, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Vacant office/commercial building on a 0.82‑acre lot with direct frontage on U.S. Highway 41; Building requires full rehabilitation; known conditions include mold, roof replacement needed, and full interior rehabilitation required; Approx. 33,500–34,000 vehicles per day on US Highway 41 directly in front of the property
