Multi-Tenant Office
For Sale
Contact for pricing
3709 W JETTON AVE, Tampa, FL 33629
Multi-tenant office building totaling 18,112 SF with 5 tenants, offered for sale in South Tampa.
Property Size18,112 SF
Price / SF$400.29
Days on Market118
Property Features for 3709 W JETTON AVE
General Information
Standard status
Active
Size
18,112 SF
Class
A
Total Parking Spaces
62
Property subtype
Office
Zoning
RO-1 (Residential Office)
Occupancy
98%
Lease Type
Modified Gross
Net Operating Income
$385,426
Building Details
Year Built
1974
Stories
2
Units
62
Tenancy
Multi
Listing Agency:
Franklin Street Tampa
Listed By:
Anthony Suarez · License #FL 3390004
(813) 951-7796
Source:
Crexi
Added: May 11
Changed: Aug 14
Last Checked: Sep 5 at 6:16AM
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 Franklin Street Tampa
Investment Insights
Based on property information with market context.
This multi-tenant office building offers a total of 18,112 SF and is currently configured for 5 tenants. It presents an ownership opportunity for those seeking an office asset with multiple existing occupants.
Located at 3709 W Jetton Ave in Tampa, the property is identified as being in South Tampa. The listing is offered for sale, with the asking price provided as $7,244,800.
Located at 3709 W Jetton Ave in Tampa, the property is identified as being in South Tampa. The listing is offered for sale, with the asking price provided as $7,244,800.
Key Highlights
- Multi‑tenant office building totaling 18,112 SF in South Tampa
- 5 tenants
- Built in 1974
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
$246,142
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
3.40%
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%
$4,922,840
$4.9M
Cap Rate 7%
$3,516,314
$3.5M
Cap Rate 9%
$2,734,911
$2.7M
Market Conditions
NOI Build-Up for 18,112 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
$434.7K $24.00/SF
− Vacancy
−$106.5K −$5.88/SF
EGI
$328.2K $18.12/SF
− OpEx
−$82.0K −$4.53/SF
NOI
$246.1K $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%
$4,922,840
Cap Rate 7%
$3,516,314
Cap Rate 9%
$2,734,911
Alternative Uses
Best Use
Office B
$3.52M
$3.08M – $4.10M
NOI $246,142 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.22M
$3.69M – $4.92M
NOI $295,370 @ 7.0% cap · market cap 4.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,353
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
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building totaling 18,112 SF with 5 tenants, offered for sale in South Tampa.
Where is this office building located?
The property is located at 3709 W JETTON AVE Tampa, FL.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: Multi‑tenant office building totaling 18,112 SF in South Tampa; 5 tenants; Built in 1974
