Free-Standing Building on Westshore
For Sale
Contact for pricing
5007 S Westshore Blvd, Tampa, FL 33611
17,156 SF building with office, canopy, and storage.
Property Size17,156 SF
Price / SF$169.04
Days on Market155
Property Features for 5007 S Westshore Blvd
General Information
Standard status
Active
Size
17,156 SF
Property subtype
Industrial
Listing Agency:
CBRE - Tampa
(813) 273-8400
Listed By:
Sarah Dieter · License #SL3607205
Source:
Crexi
Added: Mar 12
Changed: Aug 9
Last Checked: Aug 13 at 4:40AM
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 CBRE - Tampa
Investment Insights
Based on property information with market context.
This is a 17,156 square foot free-standing building. It features 11,828 square feet of heated space, a 5,328 square foot 3/4th enclosed canopy, and approximately 981 square feet of brand-new Class A office space. The building has a 20-foot clear height, four dock-high doors, and one ramp. It is equipped with 400A, 480V, 3-phase power. The property benefits from brand-new lighting and paint throughout the interior and exterior, as well as secured and fenced outside storage. Excellent signage and visibility are offered on Westshore Boulevard.
Key Highlights
- Excellent signage & visibility on Westshore Blvd.
- 17,156 SF free‑standing building.
- 11,828 SF “heated” space.
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
$253,011
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
8.72%
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%
$5,060,220
$5.1M
Cap Rate 7%
$3,614,443
$3.6M
Cap Rate 9%
$2,811,233
$2.8M
Market Conditions
NOI Build-Up for 17,156 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
$315.0K $18.36/SF
− Vacancy
−$17.3K −$1.01/SF
EGI
$297.7K $17.35/SF
− OpEx
−$44.6K −$2.60/SF
NOI
$253.0K $14.75/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
15.00%
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%
$5,060,220
Cap Rate 7%
$3,614,443
Cap Rate 9%
$2,811,233
Alternative Uses
Best Use
Warehouse
$3.61M
$3.16M – $4.22M
NOI $253,011 @ 7.0% cap · market cap 8.72%
Second Best
Industrial
$2.98M
$2.60M – $3.47M
NOI $208,362 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$4.00M
$3.50M – $4.66M
NOI $279,780 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 17,156 SF building with office, canopy, and storage.
Where is this warehouse located?
The property is located at 5007 S Westshore Blvd Tampa, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Excellent signage & visibility on Westshore Blvd.; 17,156 SF free‑standing building.; 11,828 SF “heated” space.
