Office Building with Additional
New
For Sale
$825,000
3411 N 29TH, Tampa, FL 33605
Seven private offices create a configurable layout for professional business operations.
Property Size2,840 SF
Days on Market7
Property Features for 3411 N 29TH
General Information
Standard status
Active
Size
2,840 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Land Use
commercial
Taxes and HOA fees
Annual Taxes
$7,412
Building Details
Building Size
2,840 SF
Year Built
1948
Listing Agency:
SELLSTATE COASTAL REALTY
(813) 940-0101
Listed By:
Taylor Cresswell · License #3410926
(813) 940-0101
Source:
Elliman
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 23 at 4:48AM
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 office property at 3411 N 29TH in Tampa includes seven private offices within an existing professional workspace. The configuration can support a single business or separate office users, subject to applicable requirements. Built in 1948, the property also includes additional land with potential for a second building, allowing future expansion of the site’s office footprint.
The Tampa location provides access to major roadways serving Downtown Tampa, Ybor City, nearby neighborhoods, and established commercial corridors. Walk Score is 55, BikeScore is 57, and Transit Score is 41, reflecting some pedestrian, bicycle, and transit connectivity. The combination of existing office improvements and additional land offers both current utility and room for future physical expansion.
The Tampa location provides access to major roadways serving Downtown Tampa, Ybor City, nearby neighborhoods, and established commercial corridors. Walk Score is 55, BikeScore is 57, and Transit Score is 41, reflecting some pedestrian, bicycle, and transit connectivity. The combination of existing office improvements and additional land offers both current utility and room for future physical expansion.
Key Highlights
- Seven private offices within the existing office layout
- Additional land with potential for future construction of a second building
- Built in 1948
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
Current Use
Location Intelligence
Trade Area within ½ mile
1,244
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
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Frequently Asked Questions
What type of property is this?
Office building - Seven private offices create a configurable layout for professional business operations.
Where is this office building located?
The property is located at 3411 N 29TH 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: Seven private offices within the existing office layout; Additional land with potential for future construction of a second building; Built in 1948
