Boutique Multi-Tenant Office
600 S Magnolia Ave Tampa, FL 33606
600 S Magnolia Ave, Tampa, FL, 33606
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For Sale
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Three-story, multi-tenant office building with approximately 20,330 RSF, currently 100% leased to 14 tenants.
Property Size20,330 SF
Price / SF$285.29
Days on Market113
Property Features for 600 S Magnolia Ave
General Information
- Standard status
- Active
- Size
- 20,330 SF
- Property subtype
- Office
Building Details
- Year Built
- 1924
Listing agency
CBRE
Listed by
Todd Tolbert · License #SL3263832
Source
Crexi
Added: Apr 2 Updated: Jul 22 at 6:58PM Checked: Jul 22 at 6:58PM
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 CBRE
Investment Insights
Based on property information with market context.
Edgewater is a 3-story boutique office building offering approximately 20,330 rentable square feet, currently 100% leased to 14 tenants. Originally developed circa 1924 as a hotel, the property remains a multi-tenant professional office building and has been exceptionally well-maintained by the current owner.
The property is located at 600 S. Magnolia Ave. and 601 W. De Leon St. in the Hyde Park District within the South Tampa submarket, on approximately 0.78 combined acres. Immediate connectivity to Downtown Tampa is described via Bayshore Blvd.
The current tenant roster is supported by an approximately 1.5 years of W.A.L.T. remaining, providing a stabilized leasing position within a maintained, timeless building design.
The property is located at 600 S. Magnolia Ave. and 601 W. De Leon St. in the Hyde Park District within the South Tampa submarket, on approximately 0.78 combined acres. Immediate connectivity to Downtown Tampa is described via Bayshore Blvd.
The current tenant roster is supported by an approximately 1.5 years of W.A.L.T. remaining, providing a stabilized leasing position within a maintained, timeless building design.
Key Highlights
- 3‑story, multi‑tenant boutique office building totaling ±20,330 rentable SF
- 100% leased to 14 tenants
- W.A.L.T. of approximately 1.5 years remaining
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $487.9k | $24.00 |
| − Vacancy | −$119.5k | −$5.88 |
| EGI | $368.4k | $18.12 |
| − OpEx | −$92.1k | −$4.53 |
| NOI | $276.3k | $13.59 |
20,330 SF · lease $24.00/SF/yr · vacancy 24.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.95M
$3.45M – $4.60M
NOI $276,285 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.74M
$4.14M – $5.53M
NOI $331,542 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Joyce Eastridge Economist ...
Economic Consultant
Munch and Munch, P.A.
Law Firm
Ware Law Group
Law Firm
Whitford-Thomas Group Inc
Counselor
BrandMinded
Advertising Agency
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FAQs
What type of property is this?
Office building - Three-story, multi-tenant office building with approximately 20,330 RSF, currently 100% leased to 14 tenants.
Where is this office building located?
The property is located at 600 S Magnolia Ave Tampa, FL.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 3‑story, multi‑tenant boutique office building totaling ±20,330 rentable SF; 100% leased to 14 tenants; W.A.L.T. of approximately 1.5 years remaining
