Renovated Flex Space
For Sale
$4,600,000
3605-3615 E 7th Avenue, Tampa, FL 33605
Four-building commercial property with fenced grounds, on-site parking, office accommodations, and industrial zoning flexibility.
Property Size14,963 SF
Lot Size1.19 Acres
Days on Market194
Property Features for 3605-3615 E 7th Avenue
General Information
Standard status
Active
Size
14,963 SF
Class
B
Lot size
1.19 Acres
Property subtype
Other Special Purpose
Zoning
IG
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
33 ft
Drive-In Doors
2
Additional Details
Furnished
Yes
Amenities
gym
updated restrooms and private showers
kitchen/breakroom
fully furnished
Building Details
Building Size
14,963 SF
Year Built
1959
Buildings
4
Tenancy
Multi
Owner Occupied
Yes
Abandoned
No
Properties For Sale
at 3605-3615 E 7th Avenue Contact us- Size
- 2,000 SF
- Lease Type
- NNN
3605 E 7th Ave
Listing Agency:
Sperry Commercial Global Affiliates - FCG Property Consultants
(813) 935-9600
Listed By:
Tina Marie Eloian · License #BK653748
(813) 935-9600
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 31 at 4:52AM
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 Sperry Commercial Global Affiliates - FCG Property Consultants
Investment Insights
Based on property information with market context.
This renovated flex space portfolio comprises four buildings and five spaces across 1.19 acres. Improvements include a 3,432 SF tenant-occupied building, a 6,000 SF office with multiple suites, kitchen, gym, updated restrooms, private showers, and attached 1,000 SF warehouse, plus a 4,000 SF warehouse and a 2,000 SF office. The warehouse offers ceiling heights exceeding 33 feet, two grade-level roll-up doors, and an open interior layout. Both office buildings are furnished, and the property is fenced with on-site parking.
The property fronts E. 7th Avenue in Tampa, with 255 feet of frontage and signage. It is positioned at the 36th Street intersection in East Ybor City, approximately one-half mile south of Interstate 4. The site records over 10,000 VPD on 7th Avenue, while Interstate 4 serves over 168,000 vehicles daily. Tampa International Airport is a 15-minute commute, and Downtown Tampa is 3 miles away.
IG zoning supports distribution, manufacturing, mixed use, workshop, and storage applications. The buildings offer separate occupancy options, including office and warehouse combinations.
The property fronts E. 7th Avenue in Tampa, with 255 feet of frontage and signage. It is positioned at the 36th Street intersection in East Ybor City, approximately one-half mile south of Interstate 4. The site records over 10,000 VPD on 7th Avenue, while Interstate 4 serves over 168,000 vehicles daily. Tampa International Airport is a 15-minute commute, and Downtown Tampa is 3 miles away.
IG zoning supports distribution, manufacturing, mixed use, workshop, and storage applications. The buildings offer separate occupancy options, including office and warehouse combinations.
Key Highlights
- Four‑building portfolio with five spaces across 1.19 acres
- 255’ of direct frontage and signage on E. 7th Avenue
- IG zoning supports distribution, manufacturing, mixed use, workshop, and storage
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
$220,669
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
4.80%
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%
$4,413,380
$4.4M
Cap Rate 7%
$3,152,414
$3.2M
Cap Rate 9%
$2,451,878
$2.5M
Market Conditions
NOI Build-Up for 14,963 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
$274.7K $18.36/SF
− Vacancy
−$15.1K −$1.01/SF
EGI
$259.6K $17.35/SF
− OpEx
−$38.9K −$2.60/SF
NOI
$220.7K $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%
$4,413,380
Cap Rate 7%
$3,152,414
Cap Rate 9%
$2,451,878
Alternative Uses
Best Use
Warehouse
$3.15M
$2.76M – $3.68M
NOI $220,669 @ 7.0% cap · market cap 4.80%
Second Best
Office B
$2.90M
$2.54M – $3.39M
NOI $203,347 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,017 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
33 ft
Clear height
2
Drive-in doors
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Balanced
Demand for This Use
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?
Flex space - Four-building commercial property with fenced grounds, on-site parking, office accommodations, and industrial zoning flexibility.
Where is this flex space located?
The property is located at 3605-3615 E 7th Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: Four‑building portfolio with five spaces across 1.19 acres; 255’ of direct frontage and signage on E. 7th Avenue; IG zoning supports distribution, manufacturing, mixed use, workshop, and storage
