Two-Story Office
For Sale
Under Contract
$695,000
3816 GUNN Highway, Tampa, FL 33618
Commercial Sale, TAMPA, FL
Property Size3,000 SF
Lot Size0.07 Acres
Price / SF$231.67
Days on Market184
Property Features for 3816 GUNN Highway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CG
Subdivision
ONE CARROLLWOOD PLACE A CONDOM
Directions
Heading north on Gunn Hwy, One Carrollwood Place is located on the left side of the road just before the intersection of Linebaugh Ave.
Standard status
Active Under Contract
APN
U-21-28-18-14J-000000-03816.0
Size
3,000 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ONE CARROLLWOOD PLACE A CONDOMINIUM UNIT 3816
Tax Annual Amount
8909
Legal Description
ONE CARROLLWOOD PLACE A CONDOMINIUM UNIT 3816
Utilities
Cooling system
Central Air
Building Details
Year built
1985
Building materials
Block, Stucco
Listing Agency:
KELLER WILLIAMS TAMPA PROP. · Keller Williams Realty
(813) 264-7754
Listed By:
Alexander Lucke · License #3351552
(727) 410-2896
Added: Feb 26
Changed: Aug 24
Last Checked: Aug 29 at 12:06AM
MLS# TB8480942
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story office condominium at 3816 Gunn Highway provides approximately 3,000 square feet of commercial space within One Carrollwood Place. Built in 1985, the property combines private executive offices, conference areas, and open work zones across two levels. Floor-to-ceiling windows bring natural light into the work environment, while the layout supports separation between departments or distinct suites.
An approximately 750-square-foot operational and storage suite sits near the entrance and includes exposed ceiling height, concrete flooring, integrated lighting, and direct restroom access. The area can accommodate product storage, equipment staging, IT infrastructure, archives, light distribution, or service operations. The property is positioned along Gunn Highway with access to Dale Mabry Highway and the Veterans Expressway. Nearby retail, dining, and service amenities serve employees and visitors.
An approximately 750-square-foot operational and storage suite sits near the entrance and includes exposed ceiling height, concrete flooring, integrated lighting, and direct restroom access. The area can accommodate product storage, equipment staging, IT infrastructure, archives, light distribution, or service operations. The property is positioned along Gunn Highway with access to Dale Mabry Highway and the Veterans Expressway. Nearby retail, dining, and service amenities serve employees and visitors.
Key Highlights
- Approximately 3,000 SF across two floors
- Approximately 750 SF storage and operational suite near the entrance
- Private offices, conference space, and open work areas
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
$40,770
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
5.87%
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%
$815,400
$815.4K
Cap Rate 7%
$582,429
$582.4K
Cap Rate 9%
$453,000
$453.0K
Market Conditions
NOI Build-Up for 3,000 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
$72.0K $24.00/SF
− Vacancy
−$17.6K −$5.88/SF
EGI
$54.4K $18.12/SF
− OpEx
−$13.6K −$4.53/SF
NOI
$40.8K $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%
$815,400
Cap Rate 7%
$582,429
Cap Rate 9%
$453,000
Alternative Uses
Best Use
Office B
$582.4K
$509.6K – $679.5K
NOI $40,770 @ 7.0% cap · market cap 5.87%
Second Best
Flex RnD
$565.6K
$494.9K – $659.9K
NOI $39,593 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$698.9K
$611.6K – $815.4K
NOI $48,924 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,578
Businesses Nearby
Explore this area
Business Placement
Demographics for 33618, FL
26,474
Population
12,394
Households
2.1
Avg Household Size
45
Median Age
48%
College-Educated
95%
High-School Grad
8.4 sq mi
ZIP Area
3,152
Density / Sq Mi
$79,850
Median Household Income
$50,134
Median Earnings
$1,400
Median Rent
$379,200
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 units - Professional condominium layout includes private offices, conference space, open work areas, and an integrated storage suite.
Where is this office units located?
The property is located at 3816 GUNN Highway Tampa, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Approximately 3,000 SF across two floors; Approximately 750 SF storage and operational suite near the entrance; Private offices, conference space, and open work areas
