Mixed-Use Property Near Midtown Town
For Sale
$2,900,000
3440 and 3426 CYPRESS STREET, Tampa, FL 33607
Commercial General zoning supports retail, office, mixed-use redevelopment, and other permitted business applications.
Property Size5,792 SF
Price / SF$500.69
Days on Market164
Property Features for 3440 and 3426 CYPRESS STREET
General Information
Standard status
Active
Size
5,792 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$5,129
Amenities
Central Air
3
Pond
Water Front, Pond. City Road, State Road, Asphalt, Paved Road.
Building Details
Year Built
1971
Listing Agency:
PREFERRED PROPERTIES
(813) 948-0354
Listed By:
Liz Kelly · License #SL600350
Source:
Xome
Added: Mar 14
Changed: Aug 22
Last Checked: Aug 23 at 2:38AM
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 PREFERRED PROPERTIES
Investment Insights
Based on property information with market context.
This mixed-use property at 3440 and 3426 Cypress Street includes an existing retail building and warehouse structure totaling 5,792 square feet. Built in 1971, the improvements include central air and multiple tenant suites, providing an established configuration for owner occupancy or commercial leasing. The site is zoned CG (Commercial General), supporting retail, office, mixed-use redevelopment, and other permitted business applications.
The property is positioned diagonally across from Midtown Town Center within the Midtown and Westshore corridors. The location also connects with Tampa International Airport, Downtown Tampa, I-275, and the Veterans Expressway. Site characteristics include a pond, city and state road access, and paved road surfaces.
The property is positioned diagonally across from Midtown Town Center within the Midtown and Westshore corridors. The location also connects with Tampa International Airport, Downtown Tampa, I-275, and the Veterans Expressway. Site characteristics include a pond, city and state road access, and paved road surfaces.
Key Highlights
- 5,792‑square‑foot mixed‑use property with existing retail and warehouse structures
- CG (Commercial General) zoning
- Existing improvements include multiple tenant suites and central air
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
$85,419
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
2.95%
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%
$1,708,380
$1.7M
Cap Rate 7%
$1,220,271
$1.2M
Cap Rate 9%
$949,100
$949.1K
Market Conditions
NOI Build-Up for 5,792 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
$106.3K $18.36/SF
− Vacancy
−$5.8K −$1.01/SF
EGI
$100.5K $17.35/SF
− OpEx
−$15.1K −$2.60/SF
NOI
$85.4K $14.75/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
15.00%
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%
$1,708,380
Cap Rate 7%
$1,220,271
Cap Rate 9%
$949,100
Alternative Uses
Best Use
Warehouse
$1.22M
$1.07M – $1.42M
NOI $85,419 @ 7.0% cap · market cap 2.95%
Second Best
Mixed Use
$1.12M
$977.4K – $1.30M
NOI $78,192 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,456 @ 7.0% cap · market cap 3.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,079
Businesses Nearby
Explore this area
Business Placement
Demographics for 33607, FL
24,767
Population
13,158
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
87%
High-School Grad
9.3 sq mi
ZIP Area
2,663
Density / Sq Mi
$66,404
Median Household Income
$43,404
Median Earnings
$1,771
Median Rent
$316,100
Median Home Value
Market
Vacancy Rate% for Industrial in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial General zoning supports retail, office, mixed-use redevelopment, and other permitted business applications.
Where is this mixed-use property located?
The property is located at 3440 and 3426 CYPRESS STREET Tampa, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 5,792‑square‑foot mixed‑use property with existing retail and warehouse structures; CG (Commercial General) zoning; Existing improvements include multiple tenant suites and central air
