South Tampa Commercial
For Sale
Contact for pricing
Pending
3715 W Horatio St, Tampa, FL 33609
Prime location suitable for office, retail, or medical use.
Property Size4,360 SF
Days on Market153
Property Features for 3715 W Horatio St
General Information
Standard status
Pending
Size
4,360 SF
Class
C
Total Parking Spaces
12
Property subtype
Office, Retail
Zoning
Commercial General-CG
Occupancy
100%
Lease Type
Gross
Investment Type
Value Add
Building Details
Year Built
1961
Year Renovated
2022
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Broker
Listed By:
Kris Horneland · License #BK 3059242
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Jul 24 at 6:42AM
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 Broker
Investment Insights
Based on property information with market context.
Located in the center of South Tampa, this 4360-square-foot commercial space is suitable for a professional office or retail showroom. The property could be converted to medical or dental use by utilizing less of the space to increase the parking ratio.
Key Highlights
- Prime location in the center of South Tampa
- Suitable for professional office or retail showroom
- Potential conversion to medical/dental office
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
$59,252
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
4.39%
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%
$1,185,040
$1.2M
Cap Rate 7%
$846,457
$846.5K
Cap Rate 9%
$658,356
$658.4K
Market Conditions
NOI Build-Up for 4,360 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
$104.6K $24.00/SF
− Vacancy
−$25.6K −$5.88/SF
EGI
$79.0K $18.12/SF
− OpEx
−$19.8K −$4.53/SF
NOI
$59.3K $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%
$1,185,040
Cap Rate 7%
$846,457
Cap Rate 9%
$658,356
Alternative Uses
Best Use
Office B
$846.5K
$740.7K – $987.5K
NOI $59,252 @ 7.0% cap · market cap 4.39%
Second Best
Retail
$741.6K
$648.9K – $865.3K
NOI $51,915 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.02M
$888.8K – $1.19M
NOI $71,103 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,271
Businesses Nearby
Explore this area
Business Placement
Demographics for 33609, FL
17,902
Population
9,169
Households
2
Avg Household Size
38
Median Age
63%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
4,476
Density / Sq Mi
$105,083
Median Household Income
$66,567
Median Earnings
$1,818
Median Rent
$526,000
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?
Office units - Prime location suitable for office, retail, or medical use.
Where is this office units located?
The property is located at 3715 W Horatio St Tampa, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime location in the center of South Tampa; Suitable for professional office or retail showroom; Potential conversion to medical/dental office
