Midtown Investment
For Sale
$2,250,000
3007 W CYPRESS STREET, Tampa, FL 33609
Multi-tenant commercial building in a high-growth Tampa submarket.
Property Size6,400 SF
Lot Size0.38 Acres
Price / SF$351.56
Days on Market173
Property Features for 3007 W CYPRESS STREET
General Information
Standard status
Active
Size
6,400 SF
Lot size
0.38 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,879
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Parking Spaces - 13 to 18
Vinyl Flooring
Building Details
Year Built
1985
Listing Agency:
THE SOMERDAY GROUP PL
(813) 520-9123
Listed By:
ALEXANDER MATOS
Source:
Corcoran
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 8 at 6:06AM
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 THE SOMERDAY GROUP PL
Investment Insights
Based on property information with market context.
This multi-tenant commercial building offers an investment opportunity in Midtown, strategically located along the highly traveled W. Cypress Street corridor, minutes from the rapidly expanding Midtown Tampa district. The building features approximately 7,600+ square feet of space and is positioned within one of Tampa’s most active redevelopment corridors. The property benefits from strong street frontage, excellent visibility, and convenient access to I-275, Kennedy Boulevard, Downtown Tampa, Tampa International Airport, and Midtown Tampa. The surrounding area is characterized by dense residential neighborhoods, a strong daytime population, and continued commercial and mixed-use development, supporting long-term tenant demand and rental growth. The property is zoned for commercial use and delivers stable in-place income with upside potential through rental growth and long-term corridor appreciation. The asset offers efficient operating expenses, as tenants are individually metered and responsible for their own electrical service. The parking lot was recently resurfaced, reducing near-term capital expenditure concerns. Units 6, 5, and 4 were completely remodeled in 2021 and 2025, providing modernized interiors that support stronger tenant retention and future rental upside. A current rent roll is available, with leases provided upon request.
Key Highlights
- Strategically located in a rapidly expanding Midtown Tampa district along the highly traveled W. Cypress Street corridor.
- Multi‑tenant commercial building with stable in‑place income and upside potential through rental growth.
- Excellent visibility and convenient access to I‑275, Kennedy Boulevard, Downtown Tampa, Tampa International Airport, and Midtown Tampa.
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
$86,976
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
3.87%
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%
$1,739,520
$1.7M
Cap Rate 7%
$1,242,514
$1.2M
Cap Rate 9%
$966,400
$966.4K
Market Conditions
NOI Build-Up for 6,400 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
$153.6K $24.00/SF
− Vacancy
−$37.6K −$5.88/SF
EGI
$116.0K $18.12/SF
− OpEx
−$29.0K −$4.53/SF
NOI
$87.0K $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%
$1,739,520
Cap Rate 7%
$1,242,514
Cap Rate 9%
$966,400
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $86,976 @ 7.0% cap · market cap 3.87%
Second Best
Mixed Use
$1.23M
$1.08M – $1.44M
NOI $86,400 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,371 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 33609, FL
17,902
Population
9,169
Households
2
Avg Household Size
38
Median Age
63%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
4,476
Density / Sq Mi
$105,083
Median Household Income
$66,567
Median Earnings
$1,818
Median Rent
$526,000
Median Home Value
Market
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-tenant commercial building in a high-growth Tampa submarket.
Where is this mixed-use property located?
The property is located at 3007 W CYPRESS STREET Tampa, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Strategically located in a rapidly expanding Midtown Tampa district along the highly traveled W. Cypress Street corridor.; Multi‑tenant commercial building with stable in‑place income and upside potential through rental growth.; Excellent visibility and convenient access to I‑275, Kennedy Boulevard, Downtown Tampa, Tampa International Airport, and Midtown Tampa.
