Turnkey Office Building Near
For Sale
$899,900
4206 NEBRASKA AVENUE, Tampa, FL 33603
Two-story office building in Seminole Heights, minutes from Downtown Tampa.
Property Size2,331 SF
Price / SF$386.06
Days on Market395
Property Features for 4206 NEBRASKA AVENUE
General Information
Standard status
Active
Size
2,331 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$5,650
Amenities
Central Air
3
Oversized Lot, Asphalt.
Building Details
Year Built
1913
Stories
2
Listing Agency:
SOUTH CEDAR REAL ESTATE, INC
(813) 374-7907
Listed By:
Greg Wilkerson · License #SL3439534
Source:
Xome
Added: Aug 1, 2025
Changed: Aug 25
Last Checked: Aug 29 at 6:02AM
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 SOUTH CEDAR REAL ESTATE, INC
Investment Insights
Based on property information with market context.
This two-story office building is located in the Seminole Heights neighborhood, minutes from Downtown Tampa. The property features a flexible layout suitable for multiple office configurations. It includes three restrooms and a full kitchen/breakroom. A detached garage provides additional storage or workspace. The property also features a fully fenced backyard, suitable for outdoor work areas or potential expansion. Onsite parking is available. The property benefits from visibility and signage opportunities. The second story can be leased separately, creating an additional income stream or allowing for a live/work or shared-office setup. Its location provides proximity to major commuter routes, including I-275, and is within walking distance of Seminole Heights’ restaurants, retail, and professional services. The property is suitable for professional offices, medical practices, creative studios, co-working spaces, or boutique agencies. The building size is 2048 square feet.
Key Highlights
- Prime location in highly sought‑after Seminole Heights, minutes from Downtown Tampa and near major commuter routes (I‑275).
- Flexible layout suitable for various business types with multiple office configurations.
- Potential for additional income stream by leasing out the second story separately.
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
$31,678
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
3.52%
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%
$633,560
$633.6K
Cap Rate 7%
$452,543
$452.5K
Cap Rate 9%
$351,978
$352.0K
Market Conditions
NOI Build-Up for 2,331 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
$55.9K $24.00/SF
− Vacancy
−$13.7K −$5.88/SF
EGI
$42.2K $18.12/SF
− OpEx
−$10.6K −$4.53/SF
NOI
$31.7K $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%
$633,560
Cap Rate 7%
$452,543
Cap Rate 9%
$351,978
Alternative Uses
Best Use
Office B
$452.5K
$396.0K – $528.0K
NOI $31,678 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$543.1K
$475.2K – $633.6K
NOI $38,014 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 33603, FL
19,070
Population
9,592
Households
2
Avg Household Size
38
Median Age
39%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,651
Density / Sq Mi
$64,632
Median Household Income
$43,136
Median Earnings
$1,320
Median Rent
$344,100
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 - Two-story office building in Seminole Heights, minutes from Downtown Tampa.
Where is this office building located?
The property is located at 4206 NEBRASKA AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Prime location in highly sought‑after Seminole Heights, minutes from Downtown Tampa and near major commuter routes (I‑275).; Flexible layout suitable for various business types with multiple office configurations.; Potential for additional income stream by leasing out the second story separately.
