Tampa Mixed-Use Retail/Office
For Sale
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203 N Marion St, Tampa, FL 33602
7,748 SF mixed-use property in Tampa's Opportunity Zone.
Property Size7,748 SF
Lot Size0.10 Acres
Price / SF$387.18
Days on Market149
Property Features for 203 N Marion St
General Information
Standard status
Active
Size
7,748 SF
Class
C
Lot size
0.10 Acres
Property subtype
Office, Retail
Zoning
CBD-1
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
Andretta Properties
Listed By:
Bill Besselieu · License #FL
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 10 at 1:17PM
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 Andretta Properties
Investment Insights
Based on property information with market context.
This 7,748 square foot property is located in the city of Tampa and is situated within an Opportunity Zone, subject to verification. The site has a land size of approximately 4,177 square feet with a 40-foot frontage. The zoning is CBD-1. The property is suitable for retail, office, or mixed-use purposes. Its current and past use was as a professional office. Utilities include city water and sewer, and TECO electric power. The power capacity is 3 Mega Watts. Ceiling heights range from 10 to 12 feet. Parking is available in proximate pay lots. Taxes for 2025 are to be determined.
Key Highlights
- Prime CBD‑1 Zoning suitable for Retail/Office/Mixed Use
- Significant Size: 7,748 SF
- High Power Capacity: 3 Mega Watts
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
$105,295
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
3.51%
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%
$2,105,900
$2.1M
Cap Rate 7%
$1,504,214
$1.5M
Cap Rate 9%
$1,169,944
$1.2M
Market Conditions
NOI Build-Up for 7,748 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
$186.0K $24.00/SF
− Vacancy
−$45.6K −$5.88/SF
EGI
$140.4K $18.12/SF
− OpEx
−$35.1K −$4.53/SF
NOI
$105.3K $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%
$2,105,900
Cap Rate 7%
$1,504,214
Cap Rate 9%
$1,169,944
Alternative Uses
Best Use
Office B
$1.50M
$1.32M – $1.75M
NOI $105,295 @ 7.0% cap · market cap 3.51%
Second Best
Mixed Use
$1.49M
$1.31M – $1.74M
NOI $104,598 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,354 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 33602, FL
19,936
Population
11,972
Households
1.7
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
2.6 sq mi
ZIP Area
7,668
Density / Sq Mi
$88,569
Median Household Income
$66,434
Median Earnings
$2,119
Median Rent
$560,400
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?
Mixed-use property - 7,748 SF mixed-use property in Tampa's Opportunity Zone.
Where is this mixed-use property located?
The property is located at 203 N Marion St Tampa, FL.
What is the asking price?
The asking price for this property is $2,999,900.
What are key features of this property?
This property features: Prime CBD‑1 Zoning suitable for Retail/Office/Mixed Use; Significant Size: **7,748 SF**; High Power Capacity: **3 Mega Watts**
