Freestanding Medical Office
New
For Sale
$1,850,000
4915 Ehrlich Rd, Tampa, FL 33624
Built-out healthcare facility with separate entrances, dedicated hyperbaric treatment space, parking, and pylon signage.
Property Size5,915 SF
Price / SF$312.76
Days on Market2
Property Features for 4915 Ehrlich Rd
General Information
Standard status
Active
Size
5,915 SF
Class
B
Total Parking Spaces
26
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
5,915 SF
Year Built
1997
Buildings
1
Construction
block-construction
Listing Agency:
MSC Commercial
Listed By:
Melinda Garrett
(941) 899-4842
Source:
Tcnworldwide
Added: Sep 20
Last Checked: Sep 20 at 2:25PM
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 MSC Commercial
Investment Insights
Based on property information with market context.
This freestanding medical office property contains ±5,915 SF of block construction completed in 1997. The interior is fully built out for medical use and includes two separate front entrances, a dedicated hyperbaric oxygen treatment area, and an on-site mobile hyperbaric oxygen therapy unit with additional chambers. The layout can support a single occupant or potential multi-tenant configuration.
The property includes 26 striped parking spaces, additional overflow parking, and prominent LED pylon signage. Located on Ehrlich Road in Tampa, the facility records approximately ±31,500 vehicles per day and sits between Veterans Expressway (SR 589) and N. Dale Mabry Highway. Major retailers and established medical providers are located in the surrounding area.
The property includes 26 striped parking spaces, additional overflow parking, and prominent LED pylon signage. Located on Ehrlich Road in Tampa, the facility records approximately ±31,500 vehicles per day and sits between Veterans Expressway (SR 589) and N. Dale Mabry Highway. Major retailers and established medical providers are located in the surrounding area.
Key Highlights
- ±5,915 SF freestanding medical facility
- Dedicated hyperbaric oxygen treatment area with mobile unit and additional chambers
- Two separate front entrances support flexible occupancy
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
$86,198
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
4.66%
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%
$1,723,960
$1.7M
Cap Rate 7%
$1,231,400
$1.2M
Cap Rate 9%
$957,756
$957.8K
Market Conditions
NOI Build-Up for 5,915 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
$156.2K $26.40/SF
− Vacancy
−$12.5K −$2.11/SF
EGI
$143.7K $24.29/SF
− OpEx
−$57.5K −$9.72/SF
NOI
$86.2K $14.57/SF
Area
Tampa, FL
Vacancy
8.00%
Lease Rate
$26.40 /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%
$1,723,960
Cap Rate 7%
$1,231,400
Cap Rate 9%
$957,756
Alternative Uses
Best Use
Healthcare Medical
$1.23M
$1.08M – $1.44M
NOI $86,198 @ 7.0% cap · market cap 4.66%
Second Best
Office B
$1.15M
$1.00M – $1.34M
NOI $80,385 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,462 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33624, FL
38,929
Population
15,838
Households
2.5
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
9.1 sq mi
ZIP Area
4,278
Density / Sq Mi
$81,039
Median Household Income
$46,807
Median Earnings
$1,658
Median Rent
$353,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Medical Office Space - Built-out healthcare facility with separate entrances, dedicated hyperbaric treatment space, parking, and pylon signage.
Where is this medical office space located?
The property is located at 4915 Ehrlich Rd Tampa, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: ±5,915 SF freestanding medical facility; Dedicated hyperbaric oxygen treatment area with mobile unit and additional chambers; Two separate front entrances support flexible occupancy
