Updated Office
For Sale
$349,900
8-5404 Hoover Blvd, Tampa, FL 33609
Flexible office suite with conference room, kitchen, private restroom, parking, and convenient corridor access.
Property Size1,080 SF
Price / SF$323.98
Days on Market176
Property Features for 8-5404 Hoover Blvd
General Information
Standard status
Active
Size
1,080 SF
Zoning
SPI-AP-4
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$3,507
Listing Agency:
SOUTH CEDAR REAL ESTATE, INC
(813) 374-7907
Listed By:
Sydney Avolt
(727) 403-7418
Source:
Exprealty
Added: Apr 9
Changed: Sep 21
Last Checked: Oct 1 at 12:04PM
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 SOUTH CEDAR REAL ESTATE, INC
Investment Insights
Based on property information with market context.
This 1,080 SF office condo provides a practical layout for professional operations, with an open work area, separate conference room, kitchen, and private restroom. Newer flooring, fresh paint, and a replaced HVAC system completed in 2023 support a clean, updated interior. Furniture may also be included in the sale.
The suite is within Stars and Stripes Commerce Park along the Hillsborough Avenue corridor, at Hoover Blvd. and Hillsborough Ave. It is less than 1 mile east of the Veterans Expressway and a 10 minute drive from TPA. The office park offers ample surface parking and convenient access for employees and visitors.
Zoned SPI-AP-4, the property supports professional office, medical-related, creative service, and other business uses. The configuration is suited to both owner-users and investors.
The suite is within Stars and Stripes Commerce Park along the Hillsborough Avenue corridor, at Hoover Blvd. and Hillsborough Ave. It is less than 1 mile east of the Veterans Expressway and a 10 minute drive from TPA. The office park offers ample surface parking and convenient access for employees and visitors.
Zoned SPI-AP-4, the property supports professional office, medical-related, creative service, and other business uses. The configuration is suited to both owner-users and investors.
Key Highlights
- 1,080+/- SF office condo
- Open work area plus separate conference room
- Kitchen and private restroom included
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
$14,677
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
4.19%
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%
$293,540
$293.5K
Cap Rate 7%
$209,671
$209.7K
Cap Rate 9%
$163,078
$163.1K
Market Conditions
NOI Build-Up for 1,080 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
$25.9K $24.00/SF
− Vacancy
−$6.4K −$5.88/SF
EGI
$19.6K $18.12/SF
− OpEx
−$4.9K −$4.53/SF
NOI
$14.7K $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%
$293,540
Cap Rate 7%
$209,671
Cap Rate 9%
$163,078
Alternative Uses
Best Use
Office B
$209.7K
$183.5K – $244.6K
NOI $14,677 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$251.6K
$220.2K – $293.6K
NOI $17,613 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,302
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 - Flexible office suite with conference room, kitchen, private restroom, parking, and convenient corridor access.
Where is this office units located?
The property is located at 8-5404 Hoover Blvd Tampa, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,080+/- SF office condo; Open work area plus separate conference room; Kitchen and private restroom included
