Mixed-Use Property on Nebraska
For Sale
$1,100,000
5210 N NEBRASKA AVENUE, Tampa, FL 33603
Mixed-use property with high visibility and income potential.
Property Size3,437 SF
Price / SF$320.05
Days on Market548
Property Features for 5210 N NEBRASKA AVENUE
General Information
Standard status
Active
Size
3,437 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$5,505
Building Details
Year Built
1913
Listing Agency:
RE/MAX REALTY UNLIMITED
(813) 684-0016
Listed By:
Charmaine Blake · License #3033914
(813) 787-7012
Source:
Exitrealty
Added: Mar 11, 2025
Changed: Sep 2
Last Checked: Sep 8 at 4:26AM
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 REALTY UNLIMITED
Investment Insights
Based on property information with market context.
This mixed-use property is strategically located on Nebraska Avenue near Hillsborough, less than a mile from Highway I-275. The property is zoned SH-Commercial Intensive with Future Land Use CC-35. There are currently two structures on the lot, containing a total of five residential units, an office, and a storage shed. The first building includes two efficiency units, a small retail/office space with one bathroom facing Nebraska, and a rear residential unit with four bedrooms and three bathrooms. The second building is a duplex, featuring a 1/1 unit on the ground floor and an efficiency unit on the top floor. The property has a brand new roof and a new fence. Centrally located, it is close to Urgent Care, Walmart, and restaurants, offering endless income possibilities.
Key Highlights
- SH‑Commercial Intensive zoning with CC‑35 Future Land Use allows for diverse development opportunities.
- Prime location on Nebraska Avenue near Hillsborough, with high visibility and easy access to I‑275.
- Two existing structures provide immediate income potential with a total of 5 residential units, an office, and a storage shed.
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
$46,400
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
4.22%
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%
$928,000
$928.0K
Cap Rate 7%
$662,857
$662.9K
Cap Rate 9%
$515,556
$515.6K
Market Conditions
NOI Build-Up for 3,437 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
$82.5K $24.00/SF
− Vacancy
−$8.2K −$2.40/SF
EGI
$74.2K $21.60/SF
− OpEx
−$27.8K −$8.10/SF
NOI
$46.4K $13.50/SF
Area
Tampa, FL
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$928,000
Cap Rate 7%
$662,857
Cap Rate 9%
$515,556
Alternative Uses
Best Use
Mixed Use
$662.9K
$580.0K – $773.3K
NOI $46,400 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$532.9K
$466.3K – $621.7K
NOI $37,300 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$800.7K
$700.6K – $934.2K
NOI $56,051 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,330
Businesses Nearby
Explore this area
Business Placement
Demographics for 33603, FL
19,070
Population
9,592
Households
2
Avg Household Size
38
Median Age
39%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,651
Density / Sq Mi
$64,632
Median Household Income
$43,136
Median Earnings
$1,320
Median Rent
$344,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with high visibility and income potential.
Where is this mixed-use property located?
The property is located at 5210 N NEBRASKA AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: SH‑Commercial Intensive zoning with CC‑35 Future Land Use allows for diverse development opportunities.; Prime location on Nebraska Avenue near Hillsborough, with high visibility and easy access to I‑275.; Two existing structures provide immediate income potential with a total of 5 residential units, an office, and a storage shed.
