Building Details

Building Size 2,868 SF

Year Built 2020

Listing Agency: Boutique National, LLC (Bounat)

Listed By: Nick Ganey, CCIM · License #SL3145813 Show Phone

Source: Bounat

Added: Oct 28 Last Checked: Oct 30 at 12:32PM

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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 Boutique National, LLC (Bounat)

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Investment Insights

Based on property information with market context.

Built in 2020, this flex property combines two contiguous condo units for 2,868 square feet of space. Each 1,434-square-foot suite has polished concrete flooring, air conditioning, an ADA restroom, and a 10-by-10-foot grade-level roll-up door. Tinted retail storefront glazing faces the exterior.

Unit 101 is largely open, while Unit 102 includes two small offices alongside its open area. The property also has 3-phase, 200-amp power.

Key Highlights

• 2,868 SF across two contiguous 1,434 SF condo units
• Each suite includes a 10’x10’ grade‑level roll‑up door and an ADA restroom
• Unit 102 has two small offices; Unit 101 is largely open

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,832

Cap Rate

5.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$696,640 $696.6K

Cap Rate 7%

$497,600 $497.6K

Cap Rate 9%

$387,022 $387.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,868 SF

Gross rent

$52.7K $18.36/SF

− Vacancy

−$2.9K −$1.01/SF

EGI

$49.8K $17.35/SF

− OpEx

−$14.9K −$5.21/SF

NOI

$34.8K $12.15/SF

Area

Hillsborough County, FL

Vacancy

5.50%

Lease Rate

$18.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$696,640

Cap Rate 7%

$497,600

Cap Rate 9%

$387,022

Alternative Uses

Best Use

Industrial

$497.6K

$435.4K – $580.5K (±1% cap)

NOI $34,832 @ 7.0% cap · market cap 5.82%

Second Best

Flex RnD

$441.0K

$385.9K – $514.5K (±1% cap)

NOI $30,871 @ 7.0% cap · market cap 5.15%

Theoretical Best

Office A

$830.6K

$726.8K – $969.0K (±1% cap)

NOI $58,142 @ 7.0% cap · market cap 9.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Plymouth Cards (Bike/Boat/Book/etc) Store Engrave the Moment Textile Manufacturer Volition Controls Corp. Factory

Suggested Use

Top Pick Building Supply Law Firm Auto Parts Store Real Estate Agency Kitchen & Bath Showroom Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

Location Intelligence

Trade Area within ½ mile

663

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 33566, FL

22,759

Population

8,224

Households

2.8

Avg Household Size

37

Median Age

25%

College-Educated

87%

High-School Grad

23.7 sq mi

ZIP Area

960

Density / Sq Mi

$71,161

Median Household Income

$36,916

Median Earnings

$1,333

Median Rent

$290,600

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Two connected suites offer open areas, offices, and fully air-conditioned interiors.

Where is this flex space located?

The property is located at 715 Tillman Pl Ste 101 Plant City, FL.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: 2,868 SF across two contiguous 1,434 SF condo units; Each suite includes a 10’x10’ grade‑level roll‑up door and an ADA restroom; Unit 102 has two small offices; Unit 101 is largely open