Waterfront Office
For Sale
$3,650,000
5550 W Executive Dr Unit 250, Tampa, FL 33609
Office condominium offering water views, private balconies, and reserved covered parking.
Property Size7,533 SF
Price / SF$484.53
Days on Market11
Property Features for 5550 W Executive Dr Unit 250
General Information
Standard status
Active
Size
7,533 SF
Class
Class A
Amenities
water views
private balconies
Building Details
Year Built
2007
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
(813) 361-5878
Listed By:
Kevin Platt · License #512251
Source:
Livewelltampabay
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 31 at 6:33PM
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 SMITH & ASSOCIATES REAL ESTATE
Investment Insights
Based on property information with market context.
This office condominium contains 7,533 square feet and was built in 2007. The property includes multiple private balconies, reserved covered parking, and waterfront positioning with expansive water views. It is located at 5550 W Executive Dr Unit 250 in Tampa’s Westshore CBD.
Key Highlights
- 7,533 SF office condominium
- 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
1,846
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 - 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 Dr Unit 250 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 SF office condominium; Waterfront setting with expansive water views; Multiple private balconies
