Built-Out Medical Office
For Sale
$1,850,000
4450 E FLETCHER AVENUE A, Tampa, FL 33613
Configured for clinical operations with exam rooms, administrative offices, multiple entrances, and dedicated support areas.
Property Size5,028 SF
Price / SF$367.94
Days on Market648
Property Features for 4450 E FLETCHER AVENUE A
General Information
Standard status
Active
Size
5,028 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$19,008
Building Details
Year Built
2000
Listing Agency:
COLDWELL BANKER REALTY
(317) 418-2276
Listed By:
Bernard Marshall · License #3402788
(317) 418-2276
Source:
Exitrealty
Added: Nov 20, 2024
Changed: Aug 29
Last Checked: Aug 29 at 8:32PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This 5,028-square-foot medical office, built in 2000, is configured for immediate clinical use. The layout includes four separate entrances, a reception and waiting area, multiple exam rooms, private offices, a technology room, chart room, conference room, biohazard room, storage, and multiple bathrooms.
The property is adjacent to USF and near Florida Medical Eye and Surgery Center and Advent Health. A future mixed-use development is also identified nearby, adding to the surrounding medical and institutional context.
The property is adjacent to USF and near Florida Medical Eye and Surgery Center and Advent Health. A future mixed-use development is also identified nearby, adding to the surrounding medical and institutional context.
Key Highlights
- 5,028 SF medical office built in 2000
- Four separate entrances support convenient access throughout the suite
- Multiple exam rooms, offices, and clinical support rooms
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
$73,272
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
3.96%
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%
$1,465,440
$1.5M
Cap Rate 7%
$1,046,743
$1.0M
Cap Rate 9%
$814,133
$814.1K
Market Conditions
NOI Build-Up for 5,028 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
$132.7K $26.40/SF
− Vacancy
−$10.6K −$2.11/SF
EGI
$122.1K $24.29/SF
− OpEx
−$48.8K −$9.72/SF
NOI
$73.3K $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%
$1,465,440
Cap Rate 7%
$1,046,743
Cap Rate 9%
$814,133
Alternative Uses
Best Use
Healthcare Medical
$1.05M
$915.9K – $1.22M
NOI $73,272 @ 7.0% cap · market cap 3.96%
Second Best
Office B
$976.2K
$854.1K – $1.14M
NOI $68,331 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,997 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,019
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33613, FL
38,801
Population
17,686
Households
2.2
Avg Household Size
30
Median Age
29%
College-Educated
84%
High-School Grad
7.4 sq mi
ZIP Area
5,243
Density / Sq Mi
$44,642
Median Household Income
$30,911
Median Earnings
$1,178
Median Rent
$219,700
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?
Medical Office Space - Configured for clinical operations with exam rooms, administrative offices, multiple entrances, and dedicated support areas.
Where is this medical office space located?
The property is located at 4450 E FLETCHER AVENUE A Tampa, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 5,028 SF medical office built in 2000; Four separate entrances support convenient access throughout the suite; Multiple exam rooms, offices, and clinical support rooms
