Office Units with Private
For Sale
$475,000
4828 W Gandy Boulevard B27, Tampa, FL 33611
Second-floor space includes reception, kitchenette, storage, and two multi-stall restrooms.
Property Size1,980 SF
Price / SF$239.90
Days on Market56
Property Features for 4828 W Gandy Boulevard B27
General Information
Standard status
Active
Size
1,980 SF
Additional Details
Floor
2
Office Units
1
Amenities
private stairwell entrance
reception area
kitchenette/breakroom
Building Details
Year Built
1983
Listing Agency:
COMPASS FLORIDA LLC
Listed By:
Bradley Goldfinger
(813) 251-4811
Source:
Fulcrum-residential
Added: Jul 20
Changed: Sep 12
Last Checked: Sep 12 at 1:00PM
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.
This second-floor office configuration combines three units into a single layout with five private rooms, including two oversized rooms. The space also provides a reception area, kitchenette and breakroom, generous storage, and two large multi-stall restrooms. A private stairwell creates a separate entrance for occupants and visitors. The layout is identified as adaptable for medical, spa, wellness, creative office, traditional business, and retail uses.
The property is located at the intersection of Gandy Boulevard and Westshore Boulevard in Tampa, with connections to Downtown Tampa, Downtown St. Petersburg, and the broader Tampa Bay area. On-site parking serves employees and clients. The property is also minutes from the Westshore Marina District and waterfront destinations including Salt Shack and Hula Bay. Constructed in 1983, the office units offer a practical combination of private rooms, shared reception space, support areas, and flexible circulation.
The property is located at the intersection of Gandy Boulevard and Westshore Boulevard in Tampa, with connections to Downtown Tampa, Downtown St. Petersburg, and the broader Tampa Bay area. On-site parking serves employees and clients. The property is also minutes from the Westshore Marina District and waterfront destinations including Salt Shack and Hula Bay. Constructed in 1983, the office units offer a practical combination of private rooms, shared reception space, support areas, and flexible circulation.
Key Highlights
- Three office units combined into one second‑floor layout
- Five private rooms, including two oversized spaces
- Private stairwell entrance provides separate access
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
Retail
$336.8K
$294.7K – $392.9K
NOI $23,576 @ 7.0% cap · market cap 4.96%
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
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Current Use
Lease Details
1
Office units
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
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Market
Vacancy Rate% for Office in Tampa, FL
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor space includes reception, kitchenette, storage, and two multi-stall restrooms.
Where is this office units located?
The property is located at 4828 W Gandy Boulevard B27 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: Three office units combined into one second‑floor layout; Five private rooms, including two oversized spaces; Private stairwell entrance provides separate access
