Sixth-Floor Office
For Sale
$1,100,000
Pending
6-707 N Franklin St, Tampa, FL 33602
Historic Tampa Theatre setting with high ceilings, natural light, and flexible interior planning.
Property Size4,112 SF
Days on Market209
Property Features for 6-707 N Franklin St
General Information
Standard status
Pending
Size
4,112 SF
Additional Details
Floor
6
Taxes and HOA fees
Annual Taxes
$15,690
Listing Agency:
COMPASS FLORIDA LLC
(813) 230-2447
Listed By:
Cash Ealey · License #3357166
(813) 230-2447
Source:
Exprealty
Added: Feb 2
Changed: Aug 29
Last Checked: Aug 29 at 4:47PM
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 COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
Located on the sixth floor of the Tampa Theatre building at 707 N Franklin Street, this 4,112-square-foot office unit combines a historic downtown setting with contemporary interior finishes. The space features tall ceilings, substantial natural light, and a flexible layout suited to a range of office configurations. Sleek finishes and generous interiors create a polished environment for daily operations, client meetings, and team collaboration.
The property is situated in downtown Tampa within a walkable area offering dining, boutique retail, and cultural destinations nearby. Major thoroughfares provide convenient access for commuting and business travel. The address provides an office presence within a recognized Tampa building while retaining adaptable space for an occupant’s operational needs.
The property is situated in downtown Tampa within a walkable area offering dining, boutique retail, and cultural destinations nearby. Major thoroughfares provide convenient access for commuting and business travel. The address provides an office presence within a recognized Tampa building while retaining adaptable space for an occupant’s operational needs.
Key Highlights
- 4,112 SF office unit on the 6th floor
- Located at 6‑707 N Franklin St, Tampa, FL
- Situated in the Tampa Theatre building
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
$55,882
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
5.08%
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%
$1,117,640
$1.1M
Cap Rate 7%
$798,314
$798.3K
Cap Rate 9%
$620,911
$620.9K
Market Conditions
NOI Build-Up for 4,112 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
$98.7K $24.00/SF
− Vacancy
−$24.2K −$5.88/SF
EGI
$74.5K $18.12/SF
− OpEx
−$18.6K −$4.53/SF
NOI
$55.9K $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%
$1,117,640
Cap Rate 7%
$798,314
Cap Rate 9%
$620,911
Alternative Uses
Best Use
Office B
$798.3K
$698.5K – $931.4K
NOI $55,882 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$958.0K
$838.2K – $1.12M
NOI $67,058 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9,345
Businesses Nearby
Explore this area
Business Placement
Demographics for 33602, FL
19,936
Population
11,972
Households
1.7
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
2.6 sq mi
ZIP Area
7,668
Density / Sq Mi
$88,569
Median Household Income
$66,434
Median Earnings
$2,119
Median Rent
$560,400
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?
Office units - Historic Tampa Theatre setting with high ceilings, natural light, and flexible interior planning.
Where is this office units located?
The property is located at 6-707 N Franklin St Tampa, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,112 SF office unit on the 6th floor; Located at 6‑707 N Franklin St, Tampa, FL; Situated in the Tampa Theatre building
