Medical Office Condo with Exam
For Sale
$450,000
4710 North Habana Avenue #401, Tampa, FL 33614
OP-1 medical office condominium with dedicated reception, clinical rooms, executive offices, kitchen, and restrooms.
Property Size1,517 SF
Price / SF$296.64
Days on Market146
Property Features for 4710 North Habana Avenue #401
General Information
Standard status
Active
Size
1,517 SF
Class
B
Total Parking Spaces
160
Elevators
Yes
Property subtype
Medical/Healthcare
Zoning
OP-1
Additional Details
Floor
4
HOA Fee
$1,688
Office Units
1
Building Details
Building Size
1,517 SF
Listing Agency:
Saunders Real Estate
(727) 409-0101
Listed By:
Liz Menendez · License #SL3121142
(727) 409-0101
Source:
Thebrokerlist
Added: Apr 7
Changed: Aug 29
Last Checked: Aug 29 at 1:55PM
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 Saunders Real Estate
Investment Insights
Based on property information with market context.
This 1,517 SF medical office condominium occupies the 4th floor of the Medical Arts Building at 4710 North Habana Avenue #401 in Tampa. The interior includes a reception and waiting area, 2 exam rooms, 2 executive offices, a kitchen, and 3 restrooms. The property is zoned OP-1 (Office Professional - MED.intensity 60 FT), supporting its medical office configuration.
The building provides access to 160 parking spaces and is within walking distance of BayCare St. Joseph's Hospital. Common-area services include building maintenance, janitorial service, building insurance, management, exterior pest control, parking lot repairs, landscaping, signage, elevator service, and water.
The building provides access to 160 parking spaces and is within walking distance of BayCare St. Joseph's Hospital. Common-area services include building maintenance, janitorial service, building insurance, management, exterior pest control, parking lot repairs, landscaping, signage, elevator service, and water.
Key Highlights
- 1,517 SF medical office condominium on the 4th floor
- Interior includes reception/waiting room, 2 exam rooms, and 2 executive offices
- Kitchen and 3 restrooms included
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
$13,992
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
3.11%
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%
$279,840
$279.8K
Cap Rate 7%
$199,886
$199.9K
Cap Rate 9%
$155,467
$155.5K
Market Conditions
NOI Build-Up for 1,517 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
$25.5K $16.80/SF
− Vacancy
−$2.2K −$1.43/SF
EGI
$23.3K $15.37/SF
− OpEx
−$9.3K −$6.15/SF
NOI
$14.0K $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%
$279,840
Cap Rate 7%
$199,886
Cap Rate 9%
$155,467
Alternative Uses
Best Use
Healthcare Medical
$199.9K
$174.9K – $233.2K
NOI $13,992 @ 7.0% cap · market cap 3.11%
Second Best
Office B
$146.2K
$128.0K – $170.6K
NOI $10,237 @ 7.0% cap · market cap 2.27%
Theoretical Best
Multifamily LT 5
$253.0K
$221.3K – $295.1K
NOI $17,707 @ 7.0% cap · market cap 3.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - OP-1 medical office condominium with dedicated reception, clinical rooms, executive offices, kitchen, and restrooms.
Where is this medical office space located?
The property is located at 4710 North Habana Avenue #401 Tampa, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,517 SF medical office condominium on the 4th floor; Interior includes reception/waiting room, 2 exam rooms, and 2 executive offices; Kitchen and 3 restrooms included
