Mixed-Use Commercial
For Sale
Contact for pricing
Pending
217 APOLLO BEACH BLVD, Apollo Beach, FL 33572
Mixed-use building offering warehouse space with multiple grade-level overhead doors and an additional fronting retail/office suite.
Property Size21,469 SF
Days on Market139
Property Features for 217 APOLLO BEACH BLVD
General Information
Standard status
Pending
Size
21,469 SF
Class
A
Property subtype
Retail, Industrial, Mixed Use
Zoning
PD
Lease Type
NNN
Investment Type
Value Add
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
3
Building Details
Year Built
2004
Buildings
1
Stories
1
Units
11
Tenancy
Multi
Listing Agency:
Aprile Real Estate, Inc.
Listed By:
Jason Aprile · License #FL 3204780
(813) 532-6432
Source:
Crexi
Added: Apr 22
Changed: Aug 27
Last Checked: Sep 7 at 12:25AM
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 Aprile Real Estate, Inc.
Investment Insights
Based on property information with market context.
This mixed-use commercial building includes an approximately 11,000 SF warehouse available beginning August 2026. The warehouse features three grade-level overhead doors and a truck-well, with the option for a new tenant or owner/occupant. An additional approximately 1,014 SF retail/office space is available at the front, contiguous with the rear warehouse area.
The property is located just off US 41 on Apollo Beach Blvd, approximately 4 miles from Interstate 75. It offers multiple access points with right-in, right-out, and left-in, left-out entries on Apollo Beach Blvd and US 41. The building is shadow-anchored by Publix Supermarket, and it is across US 41 from Waterset, a newly developed 3,800 home community.
The overall offering totals 21,469 SF and presents a value-add investment opportunity with both rear warehouse functionality and front retail/office frontage along Apollo Beach Blvd.
The property is located just off US 41 on Apollo Beach Blvd, approximately 4 miles from Interstate 75. It offers multiple access points with right-in, right-out, and left-in, left-out entries on Apollo Beach Blvd and US 41. The building is shadow-anchored by Publix Supermarket, and it is across US 41 from Waterset, a newly developed 3,800 home community.
The overall offering totals 21,469 SF and presents a value-add investment opportunity with both rear warehouse functionality and front retail/office frontage along Apollo Beach Blvd.
Key Highlights
- 21,469 SF mixed‑use commercial building built in 2004, located in Apollo Beach
- 11,000 SF warehouse space available August 2026 with three grade‑level overhead doors and one truck‑well
- Additional 1,014 SF retail/office space available fronting Apollo Beach Blvd, contiguous to the rear warehouse area
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
$260,744
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
5.79%
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%
$5,214,880
$5.2M
Cap Rate 7%
$3,724,914
$3.7M
Cap Rate 9%
$2,897,156
$2.9M
Market Conditions
NOI Build-Up for 21,469 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
$394.2K $18.36/SF
− Vacancy
−$21.7K −$1.01/SF
EGI
$372.5K $17.35/SF
− OpEx
−$111.7K −$5.21/SF
NOI
$260.7K $12.15/SF
Area
Hillsborough County, FL
Vacancy
5.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
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%
$5,214,880
Cap Rate 7%
$3,724,914
Cap Rate 9%
$2,897,156
Alternative Uses
Best Use
Industrial
$3.72M
$3.26M – $4.35M
NOI $260,744 @ 7.0% cap · market cap 5.79%
Second Best
Flex RnD
$3.30M
$2.89M – $3.85M
NOI $231,092 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$6.22M
$5.44M – $7.25M
NOI $435,231 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
3
Drive-in doors
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33572, FL
22,395
Population
10,394
Households
2.2
Avg Household Size
47
Median Age
45%
College-Educated
97%
High-School Grad
13.1 sq mi
ZIP Area
1,710
Density / Sq Mi
$113,775
Median Household Income
$59,262
Median Earnings
$2,057
Median Rent
$430,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed-use building offering warehouse space with multiple grade-level overhead doors and an additional fronting retail/office suite.
Where is this flex space located?
The property is located at 217 APOLLO BEACH BLVD Apollo Beach, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 21,469 SF mixed‑use commercial building built in 2004, located in Apollo Beach; 11,000 SF warehouse space available August 2026 with three grade‑level overhead doors and one truck‑well; Additional 1,014 SF retail/office space available fronting Apollo Beach Blvd, contiguous to the rear warehouse area
