South Tampa Office/Retail
For Sale
$475,000
4828 Gandy Boulevard, Tampa, FL 33611
Versatile 2,000 SF office/retail space in South Tampa.
Property Size1,980 SF
Price / SF$239.90
Days on Market155
Property Features for 4828 Gandy Boulevard
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$2,559
Amenities
Central Air
3
Shared Driveway.
Building Details
Year Built
1983
Listing Agency:
COMPASS FLORIDA LLC
(813) 365-9935
Listed By:
Bradley Goldfinger
Source:
Xome
Added: Mar 29
Changed: Aug 25
Last Checked: Aug 29 at 7:23AM
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 COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
Located in the heart of South Tampa at the newly branded Marina Pointe Office Center, this expansive second-floor office/retail space combines three units into one versatile layout totaling approximately 2,000 square feet. Situated at the intersection of Gandy Boulevard and Westshore Boulevard, the property offers accessibility with connections to Downtown Tampa, Downtown St. Petersburg, and the greater Tampa Bay area. The floor plan features five private rooms, including two oversized spaces, along with a welcoming reception area, kitchenette/breakroom, and two large multi-stall restrooms. Generous storage and flexible spacing make it suitable for a range of professional or retail uses. The space can be adapted for medical, spa, wellness, creative office, or traditional business use. The unit includes a private stairwell entrance, offering added privacy, and ample on-site parking for both employees and clients. Located minutes from the Westshore Marina District and waterfront destinations like Salt Shack and Hula Bay, this property combines convenience, visibility, and lifestyle appeal. The location has a bike score of 61, indicating it is bikeable, a walk score of 41, indicating car-dependent, and a transit score of 24, indicating minimal transit.
Key Highlights
- Prime South Tampa location at the high‑traffic intersection of Gandy and Westshore Boulevards.
- Quick connections to Downtown Tampa, Downtown St. Petersburg, and the greater Tampa Bay area.
- Versatile 2,000 sq ft space suitable for office or retail, easily adaptable for various uses (medical, spa, creative office, etc.).
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
$26,908
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
5.66%
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%
$538,160
$538.2K
Cap Rate 7%
$384,400
$384.4K
Cap Rate 9%
$298,978
$299.0K
Market Conditions
NOI Build-Up for 1,980 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
$47.5K $24.00/SF
− Vacancy
−$11.6K −$5.88/SF
EGI
$35.9K $18.12/SF
− OpEx
−$9.0K −$4.53/SF
NOI
$26.9K $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%
$538,160
Cap Rate 7%
$384,400
Cap Rate 9%
$298,978
Alternative Uses
Best Use
Office B
$384.4K
$336.4K – $448.5K
NOI $26,908 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$461.3K
$403.6K – $538.2K
NOI $32,290 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
Explore this area
Business Placement
Demographics for 33611, FL
34,101
Population
18,682
Households
1.8
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
6.3 sq mi
ZIP Area
5,413
Density / Sq Mi
$82,804
Median Household Income
$63,797
Median Earnings
$1,681
Median Rent
$449,200
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 units - Versatile 2,000 SF office/retail space in South Tampa.
Where is this office units located?
The property is located at 4828 Gandy Boulevard Tampa, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Prime South Tampa location at the high‑traffic intersection of Gandy and Westshore Boulevards.; Quick connections to Downtown Tampa, Downtown St. Petersburg, and the greater Tampa Bay area.; Versatile **2,000 sq ft space** suitable for office or retail, easily adaptable for various uses (medical, spa, creative office, etc.).
