Renovated Professional Office
For Sale
$1,749,000
4409 EL PRADO BOULEVARD, Tampa, FL 33629
Flexible workspace offers private offices, collaborative areas, conference rooms, and reception space for varied professional uses.
Property Size4,191 SF
Price / SF$417.32
Days on Market489
Property Features for 4409 EL PRADO BOULEVARD
General Information
Standard status
Active
Size
4,191 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$12,590
Amenities
Central Air
3
Asphalt.
Building Details
Year Built
1967
Stories
2
Listing Agency:
KELLER WILLIAMS TAMPA CENTRAL
(813) 865-0700
Listed By:
Brian Hahs · License #3460665
Source:
Xome
Added: Apr 18, 2025
Changed: Aug 12
Last Checked: Aug 19 at 6:14AM
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 KELLER WILLIAMS TAMPA CENTRAL
Investment Insights
Based on property information with market context.
This 4191-square-foot office building was built in 1967 and fully renovated with a contemporary professional build-out. The interior combines private offices, open collaborative areas, conference rooms, and reception space, giving the property a practical mix of dedicated and shared work areas. Central air, updated systems, contemporary finishes, and abundant windows further support a polished workplace environment.
The property is located at 4409 El Prado Boulevard in South Tampa, along a corridor described as highly visible and accessible. Surrounding context includes upscale residential neighborhoods, dining, and retail, with Downtown Tampa, Westshore, and Tampa International Airport identified as nearby destinations. Access to major roadways supports convenient arrival for employees and visitors.
The property is located at 4409 El Prado Boulevard in South Tampa, along a corridor described as highly visible and accessible. Surrounding context includes upscale residential neighborhoods, dining, and retail, with Downtown Tampa, Westshore, and Tampa International Airport identified as nearby destinations. Access to major roadways supports convenient arrival for employees and visitors.
Key Highlights
- 4191 SF office building at 4409 EL PRADO BOULEVARD, TAMPA, FL 33629
- Fully renovated professional office build‑out
- Private offices, open collaborative areas, conference rooms, and reception space
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
$56,956
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
3.26%
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%
$1,139,120
$1.1M
Cap Rate 7%
$813,657
$813.7K
Cap Rate 9%
$632,844
$632.8K
Market Conditions
NOI Build-Up for 4,191 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
$100.6K $24.00/SF
− Vacancy
−$24.6K −$5.88/SF
EGI
$75.9K $18.12/SF
− OpEx
−$19.0K −$4.53/SF
NOI
$57.0K $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%
$1,139,120
Cap Rate 7%
$813,657
Cap Rate 9%
$632,844
Alternative Uses
Best Use
Office B
$813.7K
$712.0K – $949.3K
NOI $56,956 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$976.4K
$854.3K – $1.14M
NOI $68,347 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 33629, FL
26,394
Population
11,237
Households
2.3
Avg Household Size
41
Median Age
77%
College-Educated
98%
High-School Grad
4.8 sq mi
ZIP Area
5,499
Density / Sq Mi
$158,337
Median Household Income
$88,821
Median Earnings
$1,758
Median Rent
$764,100
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 - Flexible workspace offers private offices, collaborative areas, conference rooms, and reception space for varied professional uses.
Where is this office building located?
The property is located at 4409 EL PRADO BOULEVARD Tampa, FL.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: 4191 SF office building at 4409 EL PRADO BOULEVARD, TAMPA, FL 33629; Fully renovated professional office build‑out; Private offices, open collaborative areas, conference rooms, and reception space
