Prime Commercial Opportunity in
For Sale
$1,599,900
Pending
8617 TEMPLE TERRACE Hwy, Tampa, FL 33637
Exceptional property with convenience store and gas pump potential.
Property Size1,440 SF
Lot Size1.75 Acres
Days on Market152
Property Features for 8617 TEMPLE TERRACE Hwy
General Information
Standard status
Pending
Size
1,440 SF
Lot size
1.75 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,886
Building Details
Building Size
1,440 SF
Year Built
1958
Listing Agency:
Charles Rutenberg Realty, Inc
(813) 695-0341
Listed By:
Robert Houser · License #3241484
(813) 695-0341
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 Charles Rutenberg Realty, Inc
Investment Insights
Based on property information with market context.
Located at a busy intersection on Temple Terrace Hwy, this property is zoned PD (Planned Development) and offers potential for development and growth. The site has 5,500 square feet of space approved for a convenience store and 12 gas pumps. The property was rezoned on 12/10/2024 and fits into the city’s future land use plan, which is designed to foster commercial and retail growth while enhancing accessibility and traffic flow. The property is located in a growing and highly trafficked area, surrounded by established businesses, including restaurants, retail centers, and service-oriented operations. Nearby residential neighborhoods and new commercial ventures are expected to further elevate the demand for services in the area. The property's proximity to major roadways and the city’s growing population may attract a steady stream of customers and high visibility from passing traffic. This location may be suitable for developers or investors looking to capitalize on a high-demand, high-traffic location in a developing area.
Key Highlights
- Prime commercial location at a bustling intersection with high traffic flow.
- Approved for a 5,500 sq ft convenience store and 12 gas pumps.
- Recently rezoned (12/10/2024) PD (Planned Development) to fit the city's future land use plan.
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
$75,240
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
4.70%
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%
$1,504,800
$1.5M
Cap Rate 7%
$1,074,857
$1.1M
Cap Rate 9%
$836,000
$836.0K
Market Conditions
NOI Build-Up for 5,500 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
$105.6K $19.20/SF
− Vacancy
−$5.3K −$0.96/SF
EGI
$100.3K $18.24/SF
− OpEx
−$25.1K −$4.56/SF
NOI
$75.2K $13.68/SF
Area
Tampa, FL
Vacancy
5.00%
Lease Rate
$19.20 /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%
$1,504,800
Cap Rate 7%
$1,074,857
Cap Rate 9%
$836,000
Alternative Uses
Best Use
Specialty Retail
$1.07M
$940.5K – $1.25M
NOI $75,240 @ 7.0% cap · market cap 4.70%
Second Best
Industrial
$954.3K
$835.0K – $1.11M
NOI $66,798 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,694 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
26k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 65%
Shops & Services 35%
Winn-Dixie
Groceries
16,789 visits/mo
0.3 miles
Family Dollar
Shops & Services
8,864 visits/mo
0.3 miles
Demographics for 33637, FL
18,070
Population
8,402
Households
2.2
Avg Household Size
34
Median Age
35%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
2,317
Density / Sq Mi
$60,526
Median Household Income
$40,997
Median Earnings
$1,531
Median Rent
$213,800
Median Home Value
Market
Vacancy Rate% for Retail in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Exceptional property with convenience store and gas pump potential.
Where is this gas station located?
The property is located at 8617 TEMPLE TERRACE Hwy Tampa, FL.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: Prime commercial location at a bustling intersection with high traffic flow.; Approved for a **5,500 sq ft convenience store and 12 gas pumps.**; Recently rezoned (12/10/2024) PD (Planned Development) to fit the city's future land use plan.
