North Tampa Commercial
For Sale
$1,550,000
Pending
8202 N ARMENIA AVENUE, Tampa, FL 33604
7,324 SF commercial building with three units and garage.
Property Size7,342 SF
Lot Size0.72 Acres
Days on Market258
Property Features for 8202 N ARMENIA AVENUE
General Information
Standard status
Pending
Size
7,342 SF
Lot size
0.72 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,319
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Electric Heating
Building Details
Year Built
1978
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
KEN JONES · License #3342591
Source:
Corcoran
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:08AM
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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
Located on N Armenia Ave in Tampa, this commercial property offers 7,324 sq ft of heated space divided into three separate units. The property is zoned CG (Commercial General), supporting a range of commercial uses including retail, office, medical, showroom, and service-based businesses. The building features street exposure, multiple entrances, and on-site parking. A detached garage provides storage, workshop, or fleet/operations capability. The property is positioned along a commercial corridor with traffic and access to Tampa neighborhoods, I-275, and retail and dining. It is suitable for owner-users, tenants, or investors.
Key Highlights
- 7,324 SF commercial building divided into 3 flexible units, ideal for owner‑user, investment, or multi‑tenant income.
- CG (Commercial General) zoning allows for a wide range of commercial uses.
- Large detached garage provides valuable storage or workshop.
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
$99,778
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
6.44%
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%
$1,995,560
$2.0M
Cap Rate 7%
$1,425,400
$1.4M
Cap Rate 9%
$1,108,644
$1.1M
Market Conditions
NOI Build-Up for 7,342 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
$176.2K $24.00/SF
− Vacancy
−$43.2K −$5.88/SF
EGI
$133.0K $18.12/SF
− OpEx
−$33.3K −$4.53/SF
NOI
$99.8K $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%
$1,995,560
Cap Rate 7%
$1,425,400
Cap Rate 9%
$1,108,644
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.66M
NOI $99,778 @ 7.0% cap · market cap 6.44%
Second Best
Retail
$1.25M
$1.09M – $1.46M
NOI $87,421 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,733 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,527
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33604, FL
39,071
Population
17,053
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,209
Density / Sq Mi
$55,988
Median Household Income
$39,537
Median Earnings
$1,326
Median Rent
$264,900
Median Home Value
Market
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Antonio Valencia — 2714 W Waters Ave, Tampa, FL 33614
- Tampa's Florist Inc — 8350 N Armenia Ave B, Tampa, FL 33604
- Tamps Floral — 8350 N Armenia Ave, Tampa, FL 33604
Frequently Asked Questions
What type of property is this?
Storefront property - 7,324 SF commercial building with three units and garage.
Where is this storefront property located?
The property is located at 8202 N ARMENIA AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 7,324 SF commercial building divided into 3 flexible units, ideal for owner‑user, investment, or multi‑tenant income.; CG (Commercial General) zoning allows for a wide range of commercial uses.; Large detached garage provides valuable storage or workshop.
