Corner Office
For Sale
$495,000
8814 ROCKY CREEK DRIVE, Tampa, FL 33615
Refreshed interiors combine private parking, a fenced backyard, and a screened rear patio.
Property Size2,308 SF
Price / SF$214.47
Days on Market530
Property Features for 8814 ROCKY CREEK DRIVE
General Information
Standard status
Active
Size
2,308 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$5,856
Amenities
kitchen
reception area
bathrooms with shower
screened rear patio
portable storage shed
fenced backyard
Central Air
3
Corner Lot.
Paved Driveway.
20x95
Corner, Asphalt, Paved Road.
Building Details
Year Built
1966
Listing Agency:
YOUNG COMMERCIAL INVESTMENT
(813) 843-6001
Listed By:
Sun Young · License #3006150
Source:
Xome
Added: Mar 1, 2025
Changed: Aug 12
Last Checked: Aug 12 at 3:26AM
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 YOUNG COMMERCIAL INVESTMENT
Investment Insights
Based on property information with market context.
This 2,308-square-foot office building, constructed in 1966, occupies a corner lot at 8814 Rocky Creek Drive in Tampa. The interior includes 4 rooms, a kitchen, a substantial reception area, and 2 bathrooms with showers. Drywall has been redone with concrete enhancement, and the interior has been repainted. A large screened patio extends from the rear, while the fenced backyard provides space for boat or RV parking. A portable storage shed is also included.
The property is positioned just west of W. Hillsborough Avenue and Memorial Highway. Site improvements include brick-paved parking, a paved driveway, and access from a paved road. The current wastewater system is a septic tank; a sewer line in Rocky Creek Drive is ready for connection if the buyer elects to pursue public sewer service after closing.
The property is positioned just west of W. Hillsborough Avenue and Memorial Highway. Site improvements include brick-paved parking, a paved driveway, and access from a paved road. The current wastewater system is a septic tank; a sewer line in Rocky Creek Drive is ready for connection if the buyer elects to pursue public sewer service after closing.
Key Highlights
- 2,308 SF office building on a corner lot
- 4 rooms, kitchen, large reception area, and 2 bathrooms with showers
- Redone drywall with concrete enhancement and new interior painting
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
$28,102
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
5.68%
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%
$562,040
$562.0K
Cap Rate 7%
$401,457
$401.5K
Cap Rate 9%
$312,244
$312.2K
Market Conditions
NOI Build-Up for 2,308 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
$45.1K $19.56/SF
− Vacancy
−$7.7K −$3.33/SF
EGI
$37.5K $16.23/SF
− OpEx
−$9.4K −$4.06/SF
NOI
$28.1K $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%
$562,040
Cap Rate 7%
$401,457
Cap Rate 9%
$312,244
Alternative Uses
Best Use
Office B
$401.5K
$351.3K – $468.4K
NOI $28,102 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$719.8K
$629.8K – $839.8K
NOI $50,386 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,068
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
Market
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Refreshed interiors combine private parking, a fenced backyard, and a screened rear patio.
Where is this office building located?
The property is located at 8814 ROCKY CREEK DRIVE Tampa, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,308 SF office building on a corner lot; 4 rooms, kitchen, large reception area, and 2 bathrooms with showers; Redone drywall with concrete enhancement and new interior painting
