Drew Park Industrial
For Sale
$1,550,000
5010 N GRADY Ave, Tampa, FL 33614
Industrial space with office near Tampa International Airport.
Property Size8,105 SF
Lot Size0.27 Acres
Days on Market173
Property Features for 5010 N GRADY Ave
General Information
Standard status
Active
Size
8,105 SF
Lot size
0.27 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$4,816
Building Details
Building Size
8,105 SF
Year Built
1950
Stories
1
Listing Agency:
PEOPLE'S CHOICE REALTY SVC LLC
(813) 599-1741
Listed By:
Alfonso Belluccia · License #3213647
(813) 599-1741
Source:
Elliman
Added: Mar 11
Changed: Aug 27
Last Checked: Aug 29 at 9:27AM
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 PEOPLE'S CHOICE REALTY SVC LLC
Investment Insights
Based on property information with market context.
This industrial space, located in Drew Park, presents an opportunity for either an owner-user or an investor. The building includes air-conditioned office space and is zoned IG (Industrial General). Key features of the property include five overhead doors, a 14-foot ceiling height, block construction, three-phase power, and two bathrooms. Its location offers strategic advantages, with proximity to Tampa International Airport, I-275, the Veterans Expressway, and Raymond James Stadium.
Key Highlights
- Strategically located near Tampa International Airport, I‑275, Veterans Expressway and Raymond James Stadium.
- Industrial space (IG zoning) suitable for owner‑user or investment.
- Features 5 overhead doors and 14' ceiling height.
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
$70,771
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
4.57%
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%
$1,415,420
$1.4M
Cap Rate 7%
$1,011,014
$1.0M
Cap Rate 9%
$786,344
$786.3K
Market Conditions
NOI Build-Up for 8,105 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
$107.0K $13.20/SF
− Vacancy
−$5.9K −$0.73/SF
EGI
$101.1K $12.47/SF
− OpEx
−$30.3K −$3.74/SF
NOI
$70.8K $8.73/SF
Area
ZIP 33614
Vacancy
5.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,415,420
Cap Rate 7%
$1,011,014
Cap Rate 9%
$786,344
Alternative Uses
Best Use
Industrial
$1.01M
$884.6K – $1.18M
NOI $70,771 @ 7.0% cap · market cap 4.57%
Second Best
Office B
$781.3K
$683.7K – $911.6K
NOI $54,694 @ 7.0% cap · market cap 3.53%
Theoretical Best
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,605 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 33614, FL
47,695
Population
19,660
Households
2.4
Avg Household Size
39
Median Age
23%
College-Educated
78%
High-School Grad
9.7 sq mi
ZIP Area
4,917
Density / Sq Mi
$51,143
Median Household Income
$31,350
Median Earnings
$1,399
Median Rent
$295,700
Median Home Value
Market
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial property - Industrial space with office near Tampa International Airport.
Where is this industrial property located?
The property is located at 5010 N GRADY Ave Tampa, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Strategically located near Tampa International Airport, I‑275, Veterans Expressway and Raymond James Stadium.; Industrial space (IG zoning) suitable for owner‑user or investment.; Features **5 overhead doors** and **14' ceiling height**.
