Renovated Office
For Sale
$1,749,000
4409 W El Prado Boulevard TAMPA, Tampa, FL 33629
Fully renovated office building with private offices, collaborative workspace, conference rooms, and reception areas.
Property Size4,191 SF
Price / SF$396.60
Days on Market35
Property Features for 4409 W El Prado Boulevard TAMPA
General Information
Standard status
Active
Size
4,191 SF
Zoning
RO
Taxes and HOA fees
Annual Taxes
$12,589
Amenities
2
true
6985
0.16
false
Asphalt
Slab
Main Throrughfare
4191
1
Building Details
Building Size
4,191 SF
Year Built
1967
Buildings
1
Stories
2
Listing Agency:
(904) 569-5862
Listed By:
Barbara Brittingham
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 14
Changed: Aug 15
Last Checked: Aug 15 at 10:16AM
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 Barbara Brittingham
Investment Insights
Based on property information with market context.
This fully renovated office building offers a modern, high-quality professional office build-out with a versatile layout. Interior spaces include a mix of private offices, open collaborative work areas, conference rooms, and reception areas, designed to accommodate a range of professional workflows. Ample windows provide natural light throughout the building.
The property is located on W El Prado Boulevard in Tampa, with convenient access to major roadways. The surrounding area is described as including upscale residential neighborhoods as well as dining and retail, with Downtown Tampa, Westshore, and Tampa International Airport noted as nearby.
The improvements are described as updated throughout, including contemporary finishes and upgraded systems, along with professional curb appeal.
The property is located on W El Prado Boulevard in Tampa, with convenient access to major roadways. The surrounding area is described as including upscale residential neighborhoods as well as dining and retail, with Downtown Tampa, Westshore, and Tampa International Airport noted as nearby.
The improvements are described as updated throughout, including contemporary finishes and upgraded systems, along with professional curb appeal.
Key Highlights
- Fully renovated 2‑story office building built in 1967, with total building area of 4,191 SF and 1 building
- Professional office build‑out with private offices, open collaborative workspaces, conference rooms, and reception areas
- Air conditioning included; foundation type is slab
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
$64,266
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
3.67%
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%
$1,285,320
$1.3M
Cap Rate 7%
$918,086
$918.1K
Cap Rate 9%
$714,067
$714.1K
Market Conditions
NOI Build-Up for 4,410 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
$116.4K $26.40/SF
− Vacancy
−$9.3K −$2.11/SF
EGI
$107.1K $24.29/SF
− OpEx
−$42.8K −$9.72/SF
NOI
$64.3K $14.57/SF
Area
Tampa, FL
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$1,285,320
Cap Rate 7%
$918,086
Cap Rate 9%
$714,067
Alternative Uses
Best Use
Healthcare Medical
$918.1K
$803.3K – $1.07M
NOI $64,266 @ 7.0% cap · market cap 3.67%
Second Best
Office B
$856.2K
$749.2K – $998.9K
NOI $59,932 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.03M
$899.0K – $1.20M
NOI $71,918 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 - Fully renovated office building with private offices, collaborative workspace, conference rooms, and reception areas.
Where is this office building located?
The property is located at 4409 W El Prado Boulevard TAMPA 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: Fully renovated 2‑story office building built in 1967, with total building area of 4,191 SF and 1 building; Professional office build‑out with private offices, open collaborative workspaces, conference rooms, and reception areas; Air conditioning included; foundation type is slab
