Boutique Office Property With
For Sale
$825,000
3411 N 29TH STREET, Tampa, FL 33605
Rare professional office with expansion potential in East Tampa.
Property Size2,840 SF
Lot Size0.12 Acres
Price / SF$290.49
Days on Market202
Property Features for 3411 N 29TH STREET
General Information
Standard status
Active
Size
2,840 SF
Lot size
0.12 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,412
Amenities
Central air
Pool
Public Pool
Accessible Hallway(s)
Accessible Kitchen
Accessible Kitchen Appliances
Central Air Cooling
Customized Wheelchair Accessible
Laminate Flooring
Building Details
Year Built
1948
Listing Agency:
SELLSTATE COASTAL REALTY
(813) 940-0101
Listed By:
ERIOLA GOLDMAN · License #3410926
Source:
Corcoran
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 8 at 6:04AM
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 SELLSTATE COASTAL REALTY
Investment Insights
Based on property information with market context.
This boutique professional office property is located in the rapidly evolving East Tampa market and offers room for expansion. The property features seven private offices and a functional layout ideal for professional users. Additional land allows for the potential development of a second building, creating an opportunity for future expansion or increased income. Designed for flexibility, the property is well suited for professional services, medical support offices, real estate firms, consulting groups, insurance, accounting, or small business operators seeking a centrally located Tampa presence. With convenient access to major roadways, downtown Tampa, Ybor City, and surrounding commercial corridors, the location supports both owner-users and investors looking for long-term growth in a high-demand area. The property offers versatility, scalability, and strong upside potential and measures 2840 square feet.
Key Highlights
- Rare boutique professional office property in the rapidly evolving East Tampa market.
- Seven private offices and a functional layout ideal for professional users.
- Versatile property suitable for various professional services, medical support, or small businesses.
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
$38,596
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
4.68%
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%
$771,920
$771.9K
Cap Rate 7%
$551,371
$551.4K
Cap Rate 9%
$428,844
$428.8K
Market Conditions
NOI Build-Up for 2,840 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
$68.2K $24.00/SF
− Vacancy
−$16.7K −$5.88/SF
EGI
$51.5K $18.12/SF
− OpEx
−$12.9K −$4.53/SF
NOI
$38.6K $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%
$771,920
Cap Rate 7%
$551,371
Cap Rate 9%
$428,844
Alternative Uses
Best Use
Office B
$551.4K
$482.5K – $643.3K
NOI $38,596 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$661.6K
$578.9K – $771.9K
NOI $46,315 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
972
Businesses Nearby
Explore this area
Business Placement
Demographics for 33605, FL
18,243
Population
8,994
Households
2
Avg Household Size
36
Median Age
21%
College-Educated
79%
High-School Grad
7.8 sq mi
ZIP Area
2,339
Density / Sq Mi
$36,790
Median Household Income
$35,889
Median Earnings
$1,122
Median Rent
$235,100
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?
Office building - Rare professional office with expansion potential in East Tampa.
Where is this office building located?
The property is located at 3411 N 29TH STREET Tampa, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Rare boutique professional office property in the rapidly evolving East Tampa market.; Seven private offices and a functional layout ideal for professional users.; Versatile property suitable for various professional services, medical support, or small businesses.
