Medical Office Condo on Upper
For Sale
Contact for pricing
Pending
4710 N Habana Ave, Tampa, FL 33614
1,200 SF top-floor medical office condo with two exam rooms, reception, and two hallway entrances in a four-story building.
Property Size1,200 SF
Days on Market208
Property Features for 4710 N Habana Ave
General Information
Standard status
Pending
Size
1,200 SF
Class
B
Property subtype
Office
Zoning
OP-1 ~ Commercial Condo
Building Details
Year Renovated
2022
Listing Agency:
Andretta Properties
Listed By:
Bill Besselieu · License #FL
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Jul 24 at 6:34AM
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 Andretta Properties
Investment Insights
Based on property information with market context.
This 1,200-square-foot medical/professional office condo is located on the top floor of a four-story “Medical Arts Condominium” building. The suite includes a reception area, break room, record room, an office, and two exam rooms, with two entrances to the hallway. The building offers an atrium-style entrance, elevator service, and parking available at a 4/1,000 ratio, with no assigned spaces.
The property is positioned for visibility with traffic reported at 9,000+ cars per day (AADT). It is described as being a few doors down from Saint Joseph’s Hospital. Building hours are 5:45 am to 7:00 pm.
Utilities are provided by the City of Tampa for water/sewer and TECO for electric. The roof was replaced in 2022. The condominium association is listed at $1,365.21 per month, covering building maintenance, janitorial for common areas, building insurance, management, and other common area items, while the owner is responsible for interior maintenance/repairs and HVAC.
The property is positioned for visibility with traffic reported at 9,000+ cars per day (AADT). It is described as being a few doors down from Saint Joseph’s Hospital. Building hours are 5:45 am to 7:00 pm.
Utilities are provided by the City of Tampa for water/sewer and TECO for electric. The roof was replaced in 2022. The condominium association is listed at $1,365.21 per month, covering building maintenance, janitorial for common areas, building insurance, management, and other common area items, while the owner is responsible for interior maintenance/repairs and HVAC.
Key Highlights
- 1,200 SF top‑floor medical office condo in Medical Arts Condominium, currently used as medical/professional office.
- Layout includes reception area, break room, record room, office, and two exam rooms.
- Two entrances to the hallway plus reception, office, and exam rooms for flexible patient flow.
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
$11,068
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
3.69%
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%
$221,360
$221.4K
Cap Rate 7%
$158,114
$158.1K
Cap Rate 9%
$122,978
$123.0K
Market Conditions
NOI Build-Up for 1,200 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
$20.2K $16.80/SF
− Vacancy
−$1.7K −$1.43/SF
EGI
$18.4K $15.37/SF
− OpEx
−$7.4K −$6.15/SF
NOI
$11.1K $9.22/SF
Area
ZIP 33614
Vacancy
8.50%
Lease Rate
$16.80 /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%
$221,360
Cap Rate 7%
$158,114
Cap Rate 9%
$122,978
Alternative Uses
Best Use
Healthcare Medical
$158.1K
$138.4K – $184.5K
NOI $11,068 @ 7.0% cap · market cap 3.69%
Second Best
Office B
$115.7K
$101.2K – $135.0K
NOI $8,098 @ 7.0% cap · market cap 2.70%
Theoretical Best
Multifamily LT 5
$200.1K
$175.1K – $233.5K
NOI $14,007 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,862
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33614, FL
47,695
Population
19,660
Households
2.4
Avg Household Size
39
Median Age
23%
College-Educated
78%
High-School Grad
9.7 sq mi
ZIP Area
4,917
Density / Sq Mi
$51,143
Median Household Income
$31,350
Median Earnings
$1,399
Median Rent
$295,700
Median Home Value
Market
Vacancy Rate% for Office in Tampa, FL
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 1,200 SF top-floor medical office condo with two exam rooms, reception, and two hallway entrances in a four-story building.
Where is this medical office space located?
The property is located at 4710 N Habana Ave Tampa, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,200 SF top‑floor medical office condo in Medical Arts Condominium, currently used as medical/professional office.; Layout includes reception area, break room, record room, office, and two exam rooms.; Two entrances to the hallway plus reception, office, and exam rooms for flexible patient flow.
