Hyde Park Mixed-Use
For Sale
$1,075,000
806 W De Leon St, Tampa, FL 33606
Mixed-use property in Hyde Park, potential live-work space.
Property Size2,906 SF
Price / SF$369.92
Days on Market168
Property Features for 806 W De Leon St
General Information
Standard status
Active
Size
2,906 SF
Building Details
Year Built
1908
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
Listed By:
Kevin Platt · License #512251
(813) 361-5878
Source:
Chenoregroup
Added: Mar 26
Changed: Sep 8
Last Checked: Sep 8 at 8:29AM
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 mixed-use property is located in Hyde Park, offering potential as a live-work space. The property features a newer roof and HVAC units. It is situated close to Hyde Park Village, Downtown, and Bayshore Boulevard, suggesting a location with high barriers to entry. The building is equipped with 3 electric meters and provides on-site parking with alley access, complemented by on-street parking options. The ground floor includes professional office space available for short-term lease. The property has a size of 2906 square feet.
Key Highlights
- Prime Hyde Park Location: Close proximity to Hyde Park Village, Downtown, and Bayshore Boulevard.
- Mixed‑Use Potential: Suitable for live‑work arrangements.
- Newer Roof and HVAC: Indicates recent upgrades and reduced maintenance costs.
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
$39,231
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
3.65%
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%
$784,620
$784.6K
Cap Rate 7%
$560,443
$560.4K
Cap Rate 9%
$435,900
$435.9K
Market Conditions
NOI Build-Up for 2,906 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
$69.7K $24.00/SF
− Vacancy
−$7.0K −$2.40/SF
EGI
$62.8K $21.60/SF
− OpEx
−$23.5K −$8.10/SF
NOI
$39.2K $13.50/SF
Area
Tampa, FL
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$784,620
Cap Rate 7%
$560,443
Cap Rate 9%
$435,900
Alternative Uses
Best Use
Mixed Use
$560.4K
$490.4K – $653.9K
NOI $39,231 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$677.0K
$592.4K – $789.9K
NOI $47,391 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,926
Businesses Nearby
Explore this area
Business Placement
Demographics for 33606, FL
22,271
Population
10,918
Households
2
Avg Household Size
30
Median Age
77%
College-Educated
98%
High-School Grad
3.3 sq mi
ZIP Area
6,749
Density / Sq Mi
$113,634
Median Household Income
$46,311
Median Earnings
$1,931
Median Rent
$796,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in Hyde Park, potential live-work space.
Where is this mixed-use property located?
The property is located at 806 W De Leon St Tampa, FL.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Prime Hyde Park Location: **Close proximity to Hyde Park Village, Downtown, and Bayshore Boulevard.**; Mixed‑Use Potential: Suitable for live‑work arrangements.; Newer Roof and HVAC: **Indicates recent upgrades and reduced maintenance costs.**
