Turnkey Office Condo For
For Sale
$359,000
5404 HOOVER BOULEVARD #8, Tampa, FL 33634
Modern 1,080 SF office condo in Tampa, Florida.
Property Size1,080 SF
Price / SF$332.41
Days on Market124
Property Features for 5404 HOOVER BOULEVARD #8
General Information
Standard status
Active
Size
1,080 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,507
Amenities
Central air
Pool
Public Pool
Built-Up Roof
Central Air Cooling
Luxury Vinyl Flooring
Building Details
Year Built
1980
Listing Agency:
SOUTH CEDAR REAL ESTATE, INC
(813) 374-7907
Listed By:
SYDNEY AVOLT
Source:
Corcoran
Added: Apr 9
Changed: Aug 8
Last Checked: Aug 10 at 3:36AM
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 SOUTH CEDAR REAL ESTATE, INC
Investment Insights
Based on property information with market context.
A 1,080+/- SF turnkey office condo is available for sale in the Stars and Stripes Commerce Park, situated along the Hillsborough Avenue corridor at the intersection of Hoover Blvd. and Hillsborough Ave., less than 1 mile east of the Veterans Expressway and a 10 minute drive from TPA. The suite features a clean, modern interior with a flexible layout. The space is designed with an open work area that can accommodate multiple workstations, along with a separate conference room for meetings and team collaboration. A kitchen and private restroom are also included, creating a practical and self-sufficient office setup. Interior updates include newer flooring and fresh paint, and the property also benefits from a recently replaced HVAC system (2023). The property is located in a well-maintained office park offering ample surface parking and easy access for employees and visitors. The owner is open to including some of the furniture as part of a sale. Zoned SPI-AP-4, the space supports a wide range of commercial uses- including professional office space, medical-related uses, creative services, and other business operations, making it a strong fit for both owner-users and investors.
Key Highlights
- Prime location: Hillsborough Avenue corridor, near Veterans Expressway and Tampa International Airport (TPA).
- Turnkey condition: Modern interior with newer flooring, fresh paint, and recently replaced HVAC (2023).
- Flexible layout: Open work area, separate conference room, kitchen, and private restroom.
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
$14,677
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
4.09%
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%
$293,540
$293.5K
Cap Rate 7%
$209,671
$209.7K
Cap Rate 9%
$163,078
$163.1K
Market Conditions
NOI Build-Up for 1,080 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
$25.9K $24.00/SF
− Vacancy
−$6.4K −$5.88/SF
EGI
$19.6K $18.12/SF
− OpEx
−$4.9K −$4.53/SF
NOI
$14.7K $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%
$293,540
Cap Rate 7%
$209,671
Cap Rate 9%
$163,078
Alternative Uses
Best Use
Office B
$209.7K
$183.5K – $244.6K
NOI $14,677 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$251.6K
$220.2K – $293.6K
NOI $17,613 @ 7.0% cap · market cap 4.91%
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
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Frequently Asked Questions
What type of property is this?
Office units - Modern 1,080 SF office condo in Tampa, Florida.
Where is this office units located?
The property is located at 5404 HOOVER BOULEVARD #8 Tampa, FL.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Prime location: Hillsborough Avenue corridor, near Veterans Expressway and Tampa International Airport (TPA).; Turnkey condition: Modern interior with newer flooring, fresh paint, and recently replaced HVAC (2023).; Flexible layout: Open work area, separate conference room, kitchen, and private restroom.
