Nine-Room Mixed-Use
For Sale
Under Contract
$623,000
5404 HOOVER Boulevard, Tampa, FL 33634
Commercial Sale, TAMPA, FL
Property Size1,978 SF
Lot Size0.05 Acres
Price / SF$314.96
Days on Market71
Property Features for 5404 HOOVER Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
SPI-AP-4
Subdivision
STARS & STRIPES COMMERCE PARK
Directions
Going north on the Veterans HWY, exist on Hillsbrough ave and make a right then left on Hoover blvd
Standard status
Active Under Contract
APN
U-31-28-18-96I-000000-00024.0
Size
1,978 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
STARS & STRIPES COMMERCE PARK I CONDOMINIUM LOT 24 AND AN UNDIV INT IN COMMON ELEMENTS
Tax Annual Amount
6431
Legal Description
STARS & STRIPES COMMERCE PARK I CONDOMINIUM LOT 24 AND AN UNDIV INT IN COMMON ELEMENTS
Utilities
Cooling system
Central Air
Amenities
welcoming reception area
private rooms
ample storage
restroom facilities
Building Details
Year built
1980
Floors in Building
1
Building materials
Block
Listing Agency:
MIHARA & ASSOCIATES INC.
(813) 960-2300
Listed By:
Rimo Kadous · License #3268256
(727) 776-5756
Added: Jun 18
Changed: Aug 24
Last Checked: Aug 27 at 6:06PM
MLS# TB8520315
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,978-square-foot mixed-use commercial property contains nine private rooms within a flexible interior arrangement. The existing configuration includes a reception area, consultation and client service areas, storage, and restroom facilities. Central air conditioning and block construction support the existing professional setting, which was previously used for beauty salon and medical spa operations.
Located at 5404 Hoover Boulevard in Tampa, the property is within the 33634 postal area of Hillsborough County. On-site parking and convenient access are identified as property features. The site encompasses 0.05 acres and carries SPI-AP-4 zoning. Built in 1980, the property offers an established commercial layout that can be adapted to a range of professional service, wellness, medical, retail, or office functions described for the space.
Located at 5404 Hoover Boulevard in Tampa, the property is within the 33634 postal area of Hillsborough County. On-site parking and convenient access are identified as property features. The site encompasses 0.05 acres and carries SPI-AP-4 zoning. Built in 1980, the property offers an established commercial layout that can be adapted to a range of professional service, wellness, medical, retail, or office functions described for the space.
Key Highlights
- 1,978‑square‑foot mixed‑use commercial property on 0.05 acres
- Nine private rooms within a flexible floor plan
- Reception area, consultation spaces, storage, and restroom facilities
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
$26,881
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
4.31%
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%
$537,620
$537.6K
Cap Rate 7%
$384,014
$384.0K
Cap Rate 9%
$298,678
$298.7K
Market Conditions
NOI Build-Up for 1,978 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
$47.5K $24.00/SF
− Vacancy
−$11.6K −$5.88/SF
EGI
$35.8K $18.12/SF
− OpEx
−$9.0K −$4.53/SF
NOI
$26.9K $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%
$537,620
Cap Rate 7%
$384,014
Cap Rate 9%
$298,678
Alternative Uses
Best Use
Office B
$384.0K
$336.0K – $448.0K
NOI $26,881 @ 7.0% cap · market cap 4.31%
Second Best
Mixed Use
$381.5K
$333.8K – $445.1K
NOI $26,703 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$460.8K
$403.2K – $537.6K
NOI $32,257 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Explore this area
Business Placement
Demographics for 33634, FL
21,465
Population
8,219
Households
2.6
Avg Household Size
39
Median Age
28%
College-Educated
89%
High-School Grad
8.4 sq mi
ZIP Area
2,555
Density / Sq Mi
$69,185
Median Household Income
$37,539
Median Earnings
$1,719
Median Rent
$310,900
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?
Mixed-use property - Flexible floor plan with reception, private rooms, storage, and restroom facilities.
Where is this mixed-use property located?
The property is located at 5404 HOOVER Boulevard Tampa, FL.
What is the asking price?
The asking price for this property is $623,000.
What are key features of this property?
This property features: 1,978‑square‑foot mixed‑use commercial property on 0.05 acres; Nine private rooms within a flexible floor plan; Reception area, consultation spaces, storage, and restroom facilities
