Renovated Office
New
For Sale
$565,000
4006 W STATE Street, Tampa, FL 33609
Commercial Sale, TAMPA, FL
Property Size1,278 SF
Lot Size0.10 Acres
Price / SF$442.10
Days on Market4
Property Features for 4006 W STATE Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CI
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Washer
Subdivision
BROADMOOR PARK REV
Directions
From Dale Mabry and W Cypress head south on Dale Mabry to right on State to property address on left.
Standard status
Active
APN
A-21-29-18-3LG-000007-00010.0
Size
1,278 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
BROADMOOR PARK REVISED PLAT LOT 10 BLOCK 7 LESS DRAINAGE DITCH
Tax Annual Amount
6799
Legal Description
BROADMOOR PARK REVISED PLAT LOT 10 BLOCK 7 LESS DRAINAGE DITCH
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Listing Agency:
PINEYWOODS REALTY LLC
(813) 225-1890
Listed By:
Ryan Chamblee · License #3684206
(813) 784-5454
Added: Sep 29
Changed: Oct 2
Last Checked: Oct 2 at 6:06AM
MLS# TB8553180
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 1,278-square-foot block office property was built in 1964 and occupies a 0.1-acre lot. Its interior includes an open entry area, kitchen, conference room, three private offices, two full bathrooms, laundry, and storage. A side entrance opens toward a covered rear patio. Front paver parking accommodates four vehicles. The roof, HVAC, tankless water heater, appliances, and interior were updated within the last 6-7 years. The property has CI zoning and may also be used as a residence.
The site is one minute from the Dale Mabry/I-275 ramps and Midtown Tampa, six minutes from Tampa International Airport, and eight minutes from Downtown Tampa.
The site is one minute from the Dale Mabry/I-275 ramps and Midtown Tampa, six minutes from Tampa International Airport, and eight minutes from Downtown Tampa.
Key Highlights
- 1,278‑square‑foot office building on a 0.1‑acre lot
- CI zoning; residential use is also stated as an option
- Three private offices, conference room, kitchen, and two full bathrooms
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
$17,368
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
3.07%
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%
$347,360
$347.4K
Cap Rate 7%
$248,114
$248.1K
Cap Rate 9%
$192,978
$193.0K
Market Conditions
NOI Build-Up for 1,278 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
$30.7K $24.00/SF
− Vacancy
−$7.5K −$5.88/SF
EGI
$23.2K $18.12/SF
− OpEx
−$5.8K −$4.53/SF
NOI
$17.4K $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%
$347,360
Cap Rate 7%
$248,114
Cap Rate 9%
$192,978
Alternative Uses
Best Use
Office B
$248.1K
$217.1K – $289.5K
NOI $17,368 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.7K
$260.5K – $347.4K
NOI $20,842 @ 7.0% cap · market cap 3.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
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
View Realmo Analytics
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 three-office plan support small-business use.
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: 1,278‑square‑foot office building on a 0.1‑acre lot; CI zoning; residential use is also stated as an option; Three private offices, conference room, kitchen, and two full bathrooms
