Office Building with Three Private
New
For Sale
$565,000
4006 W STATE STREET, Tampa, FL 33609
CI zoning and a flexible interior support a small-business office layout.
Property Size1,544 SF
Price / SF$365.93
Days on Market4
Property Features for 4006 W STATE STREET
General Information
Standard status
Active
Size
1,544 SF
Total Parking Spaces
4
Property subtype
Office
Zoning
CI
Additional Details
Highway Access
Yes
Office Units
1
Amenities
full kitchen
conference room
full bath
laundry
storage closets
side entrance
paver walkway
rear covered patio
0.1 acres, Dimensions: 50x88
Shingle
Septic Tank
Additional parcels description:, Parcel Number: A-21-29-18-3LG-000007-00010.0, Public Survey Range: 18, Public Survey Section: 21, Annual Amount: $6,799.49, Tax Block: 7, Tax Book Number: 23-21, Legal Description: BROADMOOR PARK REVISED PLAT LOT 10 BLOCK 7 LESS DRAINAGE DITCH, Lot: 10, Year: 2026, Zoning: CI
Vinyl
Central Air
Central
Listing ID: MFRTB8553180, Standard Status: Active, MLS Status: Active, Property Subtype: Office, On market as of 2026-09-29, Special Conditions: None
Built in 1964, Living area: 1278, Living area units: Square Feet, Building faces North, 1 storey, Levels: One, Construction Materials: Block
Subdivision: BROADMOOR PARK REV, MLS Area (Major): 33609 - Tampa / Palma Ceia, County/Parish: Hillsborough
Electricity Available, Water Source: Public
Slab
Frontage Type: City Street, Road Surface: Asphalt
Dishwasher, Dryer, Microwave, Refrigerator, Washer
Building Details
Year Built
1964
Buildings
1
Construction
block
Listing Agency:
PINEYWOODS REALTY LLC
(813) 225-1890
Listed By:
Ryan Chamblee · License #3684206
(786) 888-1889
Source:
Miharaandassociates
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 11:07AM
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 PINEYWOODS REALTY LLC
Investment Insights
Based on property information with market context.
This 1,544-square-foot office building has an open entry area, a full kitchen, a separate conference room, and three private offices. One office includes an attached full bath; the conference-room area has another full bath, laundry, storage closets, and a side entrance. The side entry opens to a paver walkway and covered rear patio, while paver parking at the front accommodates four vehicles. The property may also be used as a residential dwelling.
The building is 1 minute from the Dale Mabry/I-275 north and south ramps and Midtown Tampa, 6 minutes from Tampa International Airport, and 8 minutes from Downtown Tampa. The roof, HVAC, tankless water heater, appliances, and interior renovations were completed within the last 6-7 years. The property is in the Plant High School district.
The building is 1 minute from the Dale Mabry/I-275 north and south ramps and Midtown Tampa, 6 minutes from Tampa International Airport, and 8 minutes from Downtown Tampa. The roof, HVAC, tankless water heater, appliances, and interior renovations were completed within the last 6-7 years. The property is in the Plant High School district.
Key Highlights
- 1,544‑square‑foot office building with three private offices
- Separate conference room, full kitchen, and two full baths
- Paver parking for four vehicles and a covered rear patio
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
$20,983
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
3.71%
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%
$419,660
$419.7K
Cap Rate 7%
$299,757
$299.8K
Cap Rate 9%
$233,144
$233.1K
Market Conditions
NOI Build-Up for 1,544 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
$37.1K $24.00/SF
− Vacancy
−$9.1K −$5.88/SF
EGI
$28.0K $18.12/SF
− OpEx
−$7.0K −$4.53/SF
NOI
$21.0K $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%
$419,660
Cap Rate 7%
$299,757
Cap Rate 9%
$233,144
Alternative Uses
Best Use
Office B
$299.8K
$262.3K – $349.7K
NOI $20,983 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$359.7K
$314.8K – $419.7K
NOI $25,180 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,177
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - CI zoning and a flexible interior support a small-business office layout.
Where is this office building located?
The property is located at 4006 W STATE STREET Tampa, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 1,544‑square‑foot office building with three private offices; Separate conference room, full kitchen, and two full baths; Paver parking for four vehicles and a covered rear patio
