Waterfront Office
For Sale
$3,650,000
5550 W EXECUTIVE Drive, Tampa, FL 33609
Commercial Sale, TAMPA, FL
Property Size7,533 SF
Lot Size1.93 Acres
Price / SF$484.53
Days on Market109
Property Features for 5550 W EXECUTIVE Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
M-AP-4
Parking features
Underground/Basement
Security features
Security Lighting
Window features
Double Pane Windows
Accessibility
Accessible Approach with Ramp
Subdivision
CYPRESS BAY CONDO A COMM
Lot features
Central Business District, Cul-De-Sac, Curb and Gutters, Fire Hydrant, Flood Insurance Required, Flood Zone, City Limits, Landscaped, Oversized Lot, Retention Areas, Retention Pond, Street Lights, Paved, Waterfront
View
Harbor
Directions
Cypress West from Westshore to REO Street - South (L) to Executive Drive to property at end of cul-de-sac.
Standard status
Active
APN
A-19-29-18-9E9-000000-00251.0
Size
7,533 SF
Lot size
1.93 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CYPRESS BAY CONDOMINIUM A COMMERCIAL CONDO PHASE 1 UNITS 251...252...253 AND UNDIV INT IN COMMON ELEMENTS
Tax Annual Amount
47177
Legal Description
CYPRESS BAY CONDOMINIUM A COMMERCIAL CONDO PHASE 1 UNITS 251...252...253 AND UNDIV INT IN COMMON ELEMENTS
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating), Zoned
Cooling system
Central Air, Zoned
Water source
Public
Water front
1
Amenities
waterfront
expansive water views
multiple private balconies
reserved covered parking
attractive desk
extraordinary design and finishes
Building Details
Year built
2007
Floors in Building
3
Flooring type
Carpet
Building materials
Metal Frame
Roof type
Membrane
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
(813) 839-3800
Listed By:
Kevin Platt · License #512251
(813) 361-5878
Added: May 20
Changed: Sep 2
Last Checked: Sep 5 at 8:06AM
MLS# TB8508731
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 office condominium provides 7,533 square feet of professional workspace in a 2007 building with a metal-frame structure, carpeted flooring, and membrane roofing. Multiple private balconies and expansive water views add distinctive outdoor and outlook features, while central and zoned heating and cooling support year-round operation. Underground or basement parking is provided, including reserved covered spaces.
The property is located at 5550 W Executive Drive in Tampa’s Westshore CBD and carries M-AP-4 zoning. Public water and sewer serve the site, with phone service available. An accessible approach with ramp is also included. The 1.93-acre property includes a professional office condominium configuration suited to an owner-user seeking a defined office setting with dedicated parking and waterfront surroundings.
The property is located at 5550 W Executive Drive in Tampa’s Westshore CBD and carries M-AP-4 zoning. Public water and sewer serve the site, with phone service available. An accessible approach with ramp is also included. The 1.93-acre property includes a professional office condominium configuration suited to an owner-user seeking a defined office setting with dedicated parking and waterfront surroundings.
Key Highlights
- 7,533‑square‑foot office condominium in a 2007 building
- Waterfront setting with expansive water views
- Multiple private balconies
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
$102,373
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
2.80%
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%
$2,047,460
$2.0M
Cap Rate 7%
$1,462,471
$1.5M
Cap Rate 9%
$1,137,478
$1.1M
Market Conditions
NOI Build-Up for 7,533 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
$180.8K $24.00/SF
− Vacancy
−$44.3K −$5.88/SF
EGI
$136.5K $18.12/SF
− OpEx
−$34.1K −$4.53/SF
NOI
$102.4K $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%
$2,047,460
Cap Rate 7%
$1,462,471
Cap Rate 9%
$1,137,478
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,373 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.54M – $2.05M
NOI $122,848 @ 7.0% cap · market cap 3.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 33609, FL
17,902
Population
9,169
Households
2
Avg Household Size
38
Median Age
63%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
4,476
Density / Sq Mi
$105,083
Median Household Income
$66,567
Median Earnings
$1,818
Median Rent
$526,000
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 - Professional office condominium offering water views, private balconies, and reserved covered parking.
Where is this office units located?
The property is located at 5550 W EXECUTIVE Drive Tampa, FL.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 7,533‑square‑foot office condominium in a 2007 building; Waterfront setting with expansive water views; Multiple private balconies
