Mixed-Use
For Sale
Contact for pricing
3602 - 3626 Manhattan Ave., Tampa, FL 33629
Contiguous parcels with existing retail, medical office, and residential improvements are zoned CG.
Property Size13,164 SF
Price / SF$463.38
Days on Market147
Property Features for 3602 - 3626 Manhattan Ave.
General Information
Standard status
Active
Size
13,164 SF
Class
D
Property subtype
Office, Retail
Zoning
CG
Occupancy
100%
Lease Type
Gross
Investment Type
Redevelopment
Net Operating Income
$201,452
Building Details
Year Built
1950
Buildings
7
Stories
1
Tenancy
Multi
Listing Agency:
RE/MAX Realtec Group
(813) 323-3353
Listed By:
Daniel Nelson · License #RE/MAX Commercial CQ273784
Source:
Crexi
Added: Apr 6
Changed: Aug 29
Last Checked: Aug 29 at 10:24PM
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 RE/MAX Realtec Group
Investment Insights
Based on property information with market context.
This 1.09-acre mixed-use assemblage comprises multiple contiguous parcels at 3602–3626 Manhattan Avenue and 3611 and 3613 South Coolidge Avenue. Existing improvements include retail store, medical office, and residential structures, with the improvements dating to 1950. The property is zoned CG and is positioned for redevelopment or continued use of the existing buildings.
The site is near West Euclid Avenue and South Dale Mabry Highway, with connections to Downtown Tampa, Tampa International Airport, and the wider Tampa Bay region. Surrounding land uses include high-end residential, mixed-use, and neighborhood-serving retail properties. The assemblage is located in Tampa’s 33629 ZIP code.
The site is near West Euclid Avenue and South Dale Mabry Highway, with connections to Downtown Tampa, Tampa International Airport, and the wider Tampa Bay region. Surrounding land uses include high-end residential, mixed-use, and neighborhood-serving retail properties. The assemblage is located in Tampa’s 33629 ZIP code.
Key Highlights
- 1.09‑acre assemblage comprising multiple contiguous parcels
- Addresses include 3602–3626 Manhattan Avenue and 3611 and 3613 South Coolidge Avenue
- Existing retail store, medical office, and residential structures
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
$191,836
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
3.14%
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%
$3,836,720
$3.8M
Cap Rate 7%
$2,740,514
$2.7M
Cap Rate 9%
$2,131,511
$2.1M
Market Conditions
NOI Build-Up for 13,164 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
$347.5K $26.40/SF
− Vacancy
−$27.8K −$2.11/SF
EGI
$319.7K $24.29/SF
− OpEx
−$127.9K −$9.72/SF
NOI
$191.8K $14.57/SF
Area
Tampa, FL
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$3,836,720
Cap Rate 7%
$2,740,514
Cap Rate 9%
$2,131,511
Alternative Uses
Best Use
Healthcare Medical
$2.74M
$2.40M – $3.20M
NOI $191,836 @ 7.0% cap · market cap 3.14%
Second Best
Office B
$2.56M
$2.24M – $2.98M
NOI $178,899 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$3.07M
$2.68M – $3.58M
NOI $214,679 @ 7.0% cap · market cap 3.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 33629, FL
26,394
Population
11,237
Households
2.3
Avg Household Size
41
Median Age
77%
College-Educated
98%
High-School Grad
4.8 sq mi
ZIP Area
5,499
Density / Sq Mi
$158,337
Median Household Income
$88,821
Median Earnings
$1,758
Median Rent
$764,100
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?
Mixed-use property - Contiguous parcels with existing retail, medical office, and residential improvements are zoned CG.
Where is this mixed-use property located?
The property is located at 3602 - 3626 Manhattan Ave. Tampa, FL.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: 1.09‑acre assemblage comprising multiple contiguous parcels; Addresses include 3602–3626 Manhattan Avenue and 3611 and 3613 South Coolidge Avenue; Existing retail store, medical office, and residential structures
