Two-Story Office
For Sale
Contact for pricing
211 S Boulevard, Tampa, FL 33606
Zoned CG, this two-story office bungalow offers a reception area, nine offices, conference room, and kitchen.
Property Size3,727 SF
Price / SF$449.42
Days on Market151
Property Features for 211 S Boulevard
General Information
Standard status
Active
Size
3,727 SF
Total Parking Spaces
8
Property subtype
OFFICE
Zoning
CG
Additional Details
Highway Access
Yes
Amenities
reception area
conference room
kitchen
Building Details
Buildings
1
Stories
2
Construction
bungalow style
Listing Agency:
Saunders Real Estate, LLC
(727) 409-0101
Listed By:
Liz Menéndez · License #SL3087046
(727) 409-0101
Source:
Moodyscre
Added: Mar 16
Changed: Jul 30
Last Checked: Aug 12 at 11:58AM
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 Saunders Real Estate, LLC
Investment Insights
Based on property information with market context.
This two-story bungalow-style office property is set up for day-to-day professional use, with a reception area, nine offices, a conference room, and a kitchen. The interior also includes five restrooms, supporting staff and visitor flow within the space.
The property offers surface parking with seven dedicated spaces plus one ADA/handicap space. It is zoned CG and is not located in the historic district. Convenient access to the Lee Roy Selmon Expressway and downtown Tampa is noted for the South Tampa submarket.
Overall, the layout provides multiple private office rooms alongside a centralized reception and meeting space, making it suitable for organizations that need a mix of individual workspaces and collaboration.
The property offers surface parking with seven dedicated spaces plus one ADA/handicap space. It is zoned CG and is not located in the historic district. Convenient access to the Lee Roy Selmon Expressway and downtown Tampa is noted for the South Tampa submarket.
Overall, the layout provides multiple private office rooms alongside a centralized reception and meeting space, making it suitable for organizations that need a mix of individual workspaces and collaboration.
Key Highlights
- Zoned CG
- Two‑story bungalow‑style layout with reception area
- Nine offices plus conference room
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
$50,650
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
3.02%
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%
$1,013,000
$1.0M
Cap Rate 7%
$723,571
$723.6K
Cap Rate 9%
$562,778
$562.8K
Market Conditions
NOI Build-Up for 3,727 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
$89.4K $24.00/SF
− Vacancy
−$21.9K −$5.88/SF
EGI
$67.5K $18.12/SF
− OpEx
−$16.9K −$4.53/SF
NOI
$50.6K $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%
$1,013,000
Cap Rate 7%
$723,571
Cap Rate 9%
$562,778
Alternative Uses
Best Use
Office B
$723.6K
$633.1K – $844.2K
NOI $50,650 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$868.3K
$759.8K – $1.01M
NOI $60,780 @ 7.0% cap · market cap 3.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,926
Businesses Nearby
Explore this area
Business Placement
Demographics for 33606, FL
22,271
Population
10,918
Households
2
Avg Household Size
30
Median Age
77%
College-Educated
98%
High-School Grad
3.3 sq mi
ZIP Area
6,749
Density / Sq Mi
$113,634
Median Household Income
$46,311
Median Earnings
$1,931
Median Rent
$796,000
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 - Zoned CG, this two-story office bungalow offers a reception area, nine offices, conference room, and kitchen.
Where is this office building located?
The property is located at 211 S Boulevard Tampa, FL.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Zoned CG; Two‑story bungalow‑style layout with reception area; Nine offices plus conference room
