Commercial Land with Car Wash
For Sale
$479,000
4902 S MANHATTAN, Tampa, FL 33611
CI-zoned commercial land retaining existing car wash walls.
Property Size1,480 SF
Days on Market9
Property Features for 4902 S MANHATTAN
General Information
Standard status
Active
Size
1,480 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,608
Building Details
Building Size
1,480 SF
Year Built
1991
Listing Agency:
(813) 458-1860
Listed By:
Julie Magill · License #3308274
(813) 458-1860
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 23 at 8:17AM
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 Julie Magill
Investment Insights
Based on property information with market context.
This commercial land parcel includes remaining car wash walls from improvements dated 1991. The property carries CI zoning, supporting its classification for commercial land use.
Located at 4902 S Manhattan in Tampa, the site is positioned one block south of Gandy. WalkScore is 23, BikeScore is 38, and TransitScore is 19, reflecting a car-dependent setting with limited transit access.
Located at 4902 S Manhattan in Tampa, the site is positioned one block south of Gandy. WalkScore is 23, BikeScore is 38, and TransitScore is 19, reflecting a car-dependent setting with limited transit access.
Key Highlights
- CI‑zoned commercial land parcel
- Existing car wash walls remain on the site
- Improvements dated 1991
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
$20,246
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
4.23%
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%
$404,920
$404.9K
Cap Rate 7%
$289,229
$289.2K
Cap Rate 9%
$224,956
$225.0K
Market Conditions
NOI Build-Up for 1,480 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
$28.4K $19.20/SF
− Vacancy
−$1.4K −$0.96/SF
EGI
$27.0K $18.24/SF
− OpEx
−$6.7K −$4.56/SF
NOI
$20.2K $13.68/SF
Area
Tampa, FL
Vacancy
5.00%
Lease Rate
$19.20 /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%
$404,920
Cap Rate 7%
$289,229
Cap Rate 9%
$224,956
Alternative Uses
Best Use
Specialty Retail
$289.2K
$253.1K – $337.4K
NOI $20,246 @ 7.0% cap · market cap 4.23%
Second Best
Industrial
$256.8K
$224.7K – $299.6K
NOI $17,975 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$344.8K
$301.7K – $402.3K
NOI $24,136 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
236k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Superstores 27%
Shops & Services 20%
Groceries 17%
Walmart
Superstores
64,604 visits/mo
0.2 miles
Publix
Groceries
39,270 visits/mo
0.1 miles
McDonald's
Dining
21,858 visits/mo
0.1 miles
Wendy's
Dining
12,721 visits/mo
0.0 miles
Starbucks
Dining
11,839 visits/mo
0.1 miles
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 Retail in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - CI-zoned commercial land retaining existing car wash walls.
Where is this commercial land located?
The property is located at 4902 S MANHATTAN Tampa, FL.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: CI‑zoned commercial land parcel; Existing car wash walls remain on the site; Improvements dated 1991
