Two-Story Flex Space with Adaptable
For Sale
$1,395,000
5021 W Nassau St, Tampa, FL 33607
Zoned M-AP-1 and partially within FEMA Flood Zone AE, featuring an approximately 8,472 SF, two-floor facility with adaptable interior layout.
Property Size8,472 SF
Lot Size0.62 Acres
Price / SF$200.72
Days on Market56
Property Features for 5021 W Nassau St
General Information
Standard status
Active
Size
8,472 SF
Net Rentable
8,472 SF
Lot size
0.62 Acres
Zoning
M-AP-1
Space & Availability
Available Space
8,472 SF
Contiguous Space
8,472 SF
Building Details
Year Built
1978
Stories
2
Building Size
8,472 SF
Construction
metal
Listing Agency:
RE/MAX REALTEC GROUP INC
Listed By:
Mark Ganier · License #201
(727) 403-5611
Source:
Livewelltampabay
Added: Jul 29
Changed: Sep 17
Last Checked: Sep 21 at 1:06PM
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 RE/MAX REALTEC GROUP INC
Investment Insights
Based on property information with market context.
This flex space features a metal two-story building with interior walls constructed of drywall. The prior use was a communications and radio broadcasting studio, and the current build-out includes limited warehouse space that may be adaptable to different configurations. A floor plan is available showing the layout of the first and second floors.
The site is approximately 0.62 acres and includes an existing building of approximately 8,472 square feet, originally built in 1978. The parcel is zoned M-AP-1 and is partially within FEMA Flood Zone AE, so any redevelopment, financing, or insurance review should account for floodplain requirements.
The property is located in Tampa’s Westshore/Airport submarket near Tampa International Airport and major regional transportation corridors, providing convenient access within the Tampa Bay market for businesses that want centralized operations.
The site is approximately 0.62 acres and includes an existing building of approximately 8,472 square feet, originally built in 1978. The parcel is zoned M-AP-1 and is partially within FEMA Flood Zone AE, so any redevelopment, financing, or insurance review should account for floodplain requirements.
The property is located in Tampa’s Westshore/Airport submarket near Tampa International Airport and major regional transportation corridors, providing convenient access within the Tampa Bay market for businesses that want centralized operations.
Key Highlights
- Zoned M‑AP‑1 with part of the parcel in FEMA Flood Zone AE
- Approximately 0.62‑acre site
- Existing building approximately 8,472 SF, originally built in 1978
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
$91,723
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
6.58%
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%
$1,834,460
$1.8M
Cap Rate 7%
$1,310,329
$1.3M
Cap Rate 9%
$1,019,144
$1.0M
Market Conditions
NOI Build-Up for 6,950 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
$150.1K $21.60/SF
− Vacancy
−$9.0K −$1.30/SF
EGI
$141.1K $20.30/SF
− OpEx
−$49.4K −$7.11/SF
NOI
$91.7K $13.20/SF
Area
Tampa, FL
Vacancy
6.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,834,460
Cap Rate 7%
$1,310,329
Cap Rate 9%
$1,019,144
Alternative Uses
Best Use
Flex RnD
$1.31M
$1.15M – $1.53M
NOI $91,723 @ 7.0% cap · market cap 6.58%
Second Best
Industrial
$1.21M
$1.06M – $1.41M
NOI $84,409 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,341 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,822
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33607, FL
24,767
Population
13,158
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
87%
High-School Grad
9.3 sq mi
ZIP Area
2,663
Density / Sq Mi
$66,404
Median Household Income
$43,404
Median Earnings
$1,771
Median Rent
$316,100
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 Industrial in Tampa, FL
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Frequently Asked Questions
What type of property is this?
Flex space - Zoned M-AP-1 and partially within FEMA Flood Zone AE, featuring an approximately 8,472 SF, two-floor facility with adaptable interior layout.
Where is this flex space located?
The property is located at 5021 W Nassau St Tampa, FL.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Zoned M‑AP‑1 with part of the parcel in FEMA Flood Zone AE; Approximately 0.62‑acre site; Existing building approximately 8,472 SF, originally built in 1978
