Freestanding Mixed-Use Office
For Sale
$1,075,000
806 W DE LEON Street, Tampa, FL 33606
Commercial Sale, TAMPA, FL
Property Size2,906 SF
Lot Size0.16 Acres
Price / SF$369.92
Days on Market951
Property Features for 806 W DE LEON Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RO-1
Window features
Wood Frames
Basement
Crawl Space
Accessibility
Accessible Approach with Ramp
Subdivision
PACKWOOD
Lot features
Curb and Gutters, Historic District, City Limits, Interior Lot, Near Public Transit, Neighbourhood, Paved
Directions
South Boulevard North from Swann to De Leon - East 1/2 block to property on South side. South Boulevard South from Platt Street, 3 blocks to De Leon - East 1/2 block to property on South side of street
Standard status
Active
APN
A-24-29-18-4ZX-000014-00003.0
Size
2,906 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
PACKWOODS LOT 3 BLOCK 14
Tax Annual Amount
13281
Legal Description
PACKWOODS LOT 3 BLOCK 14
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Zoned, Central
Cooling system
Central Air, Zoned
Water source
Public
Building Details
Year built
1908
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Carpet
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
(813) 839-3800
Listed By:
Kevin Platt · License #512251
(813) 361-5878
Added: Jan 22, 2024
Changed: Aug 24
Last Checked: Aug 30 at 9:06AM
MLS# T3498909
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding mixed-use property contains a professional office on the ground floor and two residential units above. The 2,906-square-foot building was constructed in 1908 and features wood siding, hardwood and carpet flooring, central electric heating and central air with zoned controls. A ramp provides an accessible approach, while public water and public sewer serve the property.
The property is in Hyde Park, close to Bayshore and Hyde Park Village, with on-site and additional street parking available. It is zoned RO-1 and is being offered subject to existing short-term leasehold interests. The roof and HVAC systems were replaced within the past 5–7 years. Showings are available by appointment with at least 24 hours’ notice.
The property is in Hyde Park, close to Bayshore and Hyde Park Village, with on-site and additional street parking available. It is zoned RO-1 and is being offered subject to existing short-term leasehold interests. The roof and HVAC systems were replaced within the past 5–7 years. Showings are available by appointment with at least 24 hours’ notice.
Key Highlights
- 2,906‑square‑foot freestanding mixed‑use building with professional office and 2 residential units
- Ground‑floor office with 2 residential units on the second floor
- Roof and HVAC replaced within the past 5–7 years
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
$39,493
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
3.67%
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%
$789,860
$789.9K
Cap Rate 7%
$564,186
$564.2K
Cap Rate 9%
$438,811
$438.8K
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
−$17.1K −$5.88/SF
EGI
$52.7K $18.12/SF
− OpEx
−$13.2K −$4.53/SF
NOI
$39.5K $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%
$789,860
Cap Rate 7%
$564,186
Cap Rate 9%
$438,811
Alternative Uses
Best Use
Office B
$564.2K
$493.7K – $658.2K
NOI $39,493 @ 7.0% cap · market cap 3.67%
Second Best
Mixed Use
$560.4K
$490.4K – $653.9K
NOI $39,231 @ 7.0% cap · market cap 3.65%
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
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story configuration combines professional office space with residential units in a walkable Hyde Park setting.
Where is this mixed-use property located?
The property is located at 806 W DE LEON Street 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: 2,906‑square‑foot freestanding mixed‑use building with professional office and 2 residential units; Ground‑floor office with 2 residential units on the second floor; Roof and HVAC replaced within the past 5–7 years
