Industrial Land with
For Sale
Contact for pricing
4002 Garden Lane, Tampa, FL 33610
Planned development industrial site with utilities, septic, and an existing office building near major Tampa routes.
Property Size6,500 SF
Lot Size2.50 Acres
Price / SF$346.15
Days on Market97
Property Features for 4002 Garden Lane
General Information
Standard status
Active
Size
6,500 SF
Lot size
2.50 Acres
Property subtype
Industrial, Land
Zoning
PD
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Office Units
1
Building Details
Tenancy
Single
Listing Agency:
Franklin Street Tampa
Listed By:
Tommy Turner · License #760567
Source:
Crexi
Added: Jun 3
Changed: Sep 6
Last Checked: Sep 6 at 12:37AM
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.
The property is an approximately 2.5-acre East Tampa industrial/land site that includes an existing +/-1,184 SF office building. The site has on-site utilities and an existing septic system. It is located outside both the 100-year and 500-year floodplains. The offering includes an existing septic system, and the site is planned for clearing and stabilization with asphalt millings. The land is zoned Planned Development (PD) with approved plans in place for a +/-6,500 SF warehouse development.
Access is described as easy to E M.L.K. Jr Blvd, SR-301, I-4, I-75, and I-275. The property is noted as being located near the Florida State Fairgrounds and Seminole Hard Rock Hotel & Casino Tampa.
This site can support multiple development approaches, including ground lease, build-to-suit, or sale, with PD approvals already in place for a warehouse of the stated size. The combination of utilities, septic, and floodplain positioning may help reduce early site constraints for an industrial user or developer looking to move forward with an approved plan.
Access is described as easy to E M.L.K. Jr Blvd, SR-301, I-4, I-75, and I-275. The property is noted as being located near the Florida State Fairgrounds and Seminole Hard Rock Hotel & Casino Tampa.
This site can support multiple development approaches, including ground lease, build-to-suit, or sale, with PD approvals already in place for a warehouse of the stated size. The combination of utilities, septic, and floodplain positioning may help reduce early site constraints for an industrial user or developer looking to move forward with an approved plan.
Key Highlights
- +/-2.5‑acre East Tampa industrial/land site near Florida State Fairgrounds and Seminole Hard Rock Hotel & Casino Tampa
- Includes an existing +/-1,184 SF office building on‑site
- On‑site utilities and existing septic system
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
$76,546
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%
$1,530,920
$1.5M
Cap Rate 7%
$1,093,514
$1.1M
Cap Rate 9%
$850,511
$850.5K
Market Conditions
NOI Build-Up for 6,500 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
$135.7K $20.88/SF
− Vacancy
−$33.7K −$5.18/SF
EGI
$102.1K $15.70/SF
− OpEx
−$25.5K −$3.93/SF
NOI
$76.5K $11.78/SF
Area
ZIP 33610
Vacancy
24.80%
Lease Rate
$20.88 /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%
$1,530,920
Cap Rate 7%
$1,093,514
Cap Rate 9%
$850,511
Alternative Uses
Best Use
Office B
$1.09M
$956.8K – $1.28M
NOI $76,546 @ 7.0% cap · market cap 3.40%
Second Best
Warehouse
$725.0K
$634.4K – $845.8K
NOI $50,749 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,941 @ 7.0% cap · market cap 4.66%
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
Utilities to site
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Explore this area
Business Placement
Demographics for 33610, FL
45,218
Population
17,995
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
82%
High-School Grad
18.0 sq mi
ZIP Area
2,512
Density / Sq Mi
$49,765
Median Household Income
$34,773
Median Earnings
$1,307
Median Rent
$210,600
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 - Planned development industrial site with utilities, septic, and an existing office building near major Tampa routes.
Where is this office building located?
The property is located at 4002 Garden Lane Tampa, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: +/-2.5‑acre East Tampa industrial/land site near Florida State Fairgrounds and Seminole Hard Rock Hotel & Casino Tampa; Includes an existing +/-1,184 SF office building on‑site; On‑site utilities and existing septic system
