Tampa Office Building For
For Sale
$1,500,000
8407 Pinehurst Dr, Tampa, FL 33615
Office building for sale north of Waters Avenue in Tampa.
Property Size4,531 SF
Days on Market299
Property Features for 8407 Pinehurst Dr
General Information
Standard status
Active
Size
4,531 SF
Class
C
Property subtype
Office
Building Details
Building Size
4,531 SF
Year Built
2002
Listing Agency:
Commercial Real Estate Services of SWFL, Inc.
Listed By:
Carlos Acosta, CCIM · License #FL #BK3161197
(239) 823-0115
Source:
Cresswfl
Added: Nov 25, 2025
Changed: Sep 20
Last Checked: Sep 20 at 5:34AM
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 Commercial Real Estate Services of SWFL, Inc.
Investment Insights
Based on property information with market context.
This 4,531-square-foot office building is located just north of Waters Avenue, between Hanley Road and the Veterans Expressway in Tampa, Florida.
Key Highlights
- Location: Just North of Waters Avenue
- Proximity: Between Hanley Road and Veterans Expressway
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
$55,170
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
3.68%
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%
$1,103,400
$1.1M
Cap Rate 7%
$788,143
$788.1K
Cap Rate 9%
$613,000
$613.0K
Market Conditions
NOI Build-Up for 4,531 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
$88.6K $19.56/SF
− Vacancy
−$15.1K −$3.33/SF
EGI
$73.6K $16.23/SF
− OpEx
−$18.4K −$4.06/SF
NOI
$55.2K $12.18/SF
Area
ZIP 33615
Vacancy
17.00%
Lease Rate
$19.56 /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%
$1,103,400
Cap Rate 7%
$788,143
Cap Rate 9%
$613,000
Alternative Uses
Best Use
Office B
$788.1K
$689.6K – $919.5K
NOI $55,170 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,916 @ 7.0% cap · market cap 6.59%
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
711
Businesses Nearby
Explore this area
Business Placement
Demographics for 33615, FL
47,434
Population
20,543
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
90%
High-School Grad
8.6 sq mi
ZIP Area
5,516
Density / Sq Mi
$66,257
Median Household Income
$38,858
Median Earnings
$1,586
Median Rent
$291,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Tampa, FL
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Frequently Asked Questions
What type of property is this?
Office building - Office building for sale north of Waters Avenue in Tampa.
Where is this office building located?
The property is located at 8407 Pinehurst Dr Tampa, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Location: Just North of Waters Avenue; Proximity: Between Hanley Road and Veterans Expressway
