Retail Building with
New
For Sale
Contact for pricing
5510 N FLORIDA AVE, Tampa, FL 33604
Operating laundromat business with on-site parking and an accompanying retail building.
Property Size2,592 SF
Lot Size0.26 Acres
Price / SF$318.29
Days on Market7
Property Features for 5510 N FLORIDA AVE
General Information
Standard status
Active
Size
2,592 SF
Lot size
0.26 Acres
Property subtype
Business for Sale
Net Operating Income
$48,711
Additional Details
Business Included
Yes
Building Details
Year Built
1996
Buildings
1
Stories
1
Units
1
Listing Agency:
Nationwide Realty Solutions LLC
Listed By:
Mohammad Mustafa · License #BK3293688
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 5:28PM
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 Nationwide Realty Solutions LLC
Investment Insights
Based on property information with market context.
This retail property includes an operating laundromat business and the underlying real estate at 5510 N Florida Ave in Tampa. The 2,592-square-foot building was constructed in 1996 and occupies approximately 0.26 acres. Its existing retail and service configuration supports continued laundromat operations.
The property fronts North Florida Avenue and includes on-site parking. The surrounding area features dense residential neighborhoods and active local commerce, with the address positioned in Tampa’s Seminole Heights area. The business and building are offered together, combining an established service operation with ownership of the associated commercial property.
The property fronts North Florida Avenue and includes on-site parking. The surrounding area features dense residential neighborhoods and active local commerce, with the address positioned in Tampa’s Seminole Heights area. The business and building are offered together, combining an established service operation with ownership of the associated commercial property.
Key Highlights
- Operating laundromat business offered with underlying real estate
- 2,592 SF retail building constructed in 1996
- Approximately 0.26 acres
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
$30,863
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
3.74%
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%
$617,260
$617.3K
Cap Rate 7%
$440,900
$440.9K
Cap Rate 9%
$342,922
$342.9K
Market Conditions
NOI Build-Up for 2,592 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
$46.7K $18.00/SF
− Vacancy
−$2.6K −$0.99/SF
EGI
$44.1K $17.01/SF
− OpEx
−$13.2K −$5.10/SF
NOI
$30.9K $11.91/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$617,260
Cap Rate 7%
$440,900
Cap Rate 9%
$342,922
Alternative Uses
Best Use
Retail
$440.9K
$385.8K – $514.4K
NOI $30,863 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$603.9K
$528.4K – $704.5K
NOI $42,270 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,336
Businesses Nearby
307k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 34%
Dining 25%
Home Improvements & Furnishings 23%
Groceries 11%
The Home Depot
Home Improvements & Furnishings
67,643 visits/mo
0.3 miles
Wawa
Shops & Services
50,492 visits/mo
0.1 miles
Walmart Neighborhood Market
Groceries
32,679 visits/mo
0.4 miles
McDonald's
Dining
24,064 visits/mo
0.2 miles
Dollar Tree
Shops & Services
15,175 visits/mo
0.4 miles
Demographics for 33604, FL
39,071
Population
17,053
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,209
Density / Sq Mi
$55,988
Median Household Income
$39,537
Median Earnings
$1,326
Median Rent
$264,900
Median Home Value
Market
Vacancy Rate% for Retail in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Operating laundromat business with on-site parking and an accompanying retail building.
Where is this retail space located?
The property is located at 5510 N FLORIDA AVE Tampa, FL.
What is the asking price?
The asking price for this property is $824,999.
What are key features of this property?
This property features: Operating laundromat business offered with underlying real estate; 2,592 SF retail building constructed in 1996; Approximately 0.26 acres
