Recently Renovated Office
For Sale
Contact for pricing
5215 W Laurel St, Tampa, FL 33607
Recently renovated office building in Westshore with convenient access to Tampa International Airport and nearby commercial destinations.
Property Size22,796 SF
Price / SF$241.27
Days on Market674
Property Features for 5215 W Laurel St
General Information
Standard status
Active
Size
22,796 SF
Property subtype
OFFICE
Listing Agency:
CBRE | Tampa
(813) 273-8400
Listed By:
Jackson Kilcoyne
(813) 273-8466
Source:
Moodyscre
Added: Nov 12, 2024
Changed: Sep 4
Last Checked: Sep 16 at 8:11PM
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.
5215 W Laurel St is a recently renovated office building offered for sale. The property is set up as an office asset and totals 22,796 square feet.
The building is located in the heart of Westshore, with proximity to Tampa International Airport as well as International Plaza and Westshore. It also offers easy access to Downtown Tampa and Pinellas County.
As an office property with recent renovations, it presents an opportunity for buyers seeking a turn-key professional setting in a well-traveled area.
The building is located in the heart of Westshore, with proximity to Tampa International Airport as well as International Plaza and Westshore. It also offers easy access to Downtown Tampa and Pinellas County.
As an office property with recent renovations, it presents an opportunity for buyers seeking a turn-key professional setting in a well-traveled area.
Key Highlights
- Recently renovated office building
- Located in Westshore
- Convenient access to Tampa International Airport
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
$309,798
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
5.63%
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%
$6,195,960
$6.2M
Cap Rate 7%
$4,425,686
$4.4M
Cap Rate 9%
$3,442,200
$3.4M
Market Conditions
NOI Build-Up for 22,796 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
$547.1K $24.00/SF
− Vacancy
−$134.0K −$5.88/SF
EGI
$413.1K $18.12/SF
− OpEx
−$103.3K −$4.53/SF
NOI
$309.8K $13.59/SF
Area
Tampa, FL
Vacancy
24.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$6,195,960
Cap Rate 7%
$4,425,686
Cap Rate 9%
$3,442,200
Alternative Uses
Best Use
Office B
$4.43M
$3.87M – $5.16M
NOI $309,798 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.31M
$4.65M – $6.20M
NOI $371,757 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,298
Businesses Nearby
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 Office in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Recently renovated office building in Westshore with convenient access to Tampa International Airport and nearby commercial destinations.
Where is this office building located?
The property is located at 5215 W Laurel St Tampa, FL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Recently renovated office building; Located in Westshore; Convenient access to Tampa International Airport
