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    Property profile & analytics

    3217 Cork Rd Plant City, FL 33565-5624

    • Retail space
    • 2,784 SF
    • 0.53 lot acres
    OFF-MARKET
    Last Sale
    Aug 26, 2024
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5593928
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • U-Haul Neighborhood Dealer / Van Rental Agency / Truck Rental Agency
    • Lawson Hardware / Hardware Store
    • Taco Madre, LLC / Taco Restaurant
    • Taco Madre / Mexican Restaurant

    Property Details for 3217 Cork Rd

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.53 lot acres
    Property size
    2,784 SF
    Zone code
    CN
    Property type
    Retail space
    APN
    U142821ZZZ000003570500
    APU
    U142821ZZZ000003570500

    Description

    This exceptional 2,400 square foot freestanding retail building presents a prime investment opportunity in Plant City, Florida. Situated on a 0.59-acre corner lot at the intersection of Cork Road and State Road 580, this property boasts approximately 140 feet of frontage on SR-580, ensuring high visibility and accessibility. Built in 1974, the single-story building is zoned CN and offers seamless ingress and egress, making it ideal for a variety of retail uses. The property's strategic location provides easy access to Interstate 4, approximately 1.5 miles away, further enhancing its appeal to both local customers and those traveling through the area. This landmark location in the rapidly growing Hillsborough County market offers significant potential for property seekers, operators, and investors alike. The asking price is $789,000, translating to $328.75 per square foot. The property's Assessed Parcel Number (APN) is U-14-28-21-ZZZ-000003-57050.0. This is a rare opportunity to acquire a well-positioned retail property in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $455,000
      6.5%
      $420,000
      7%
      $390,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $306,000
      Market price range: $187k - $628k
      AI Estimate
      $157,000
      Market price range: $108k - $358k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Plant City
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.1751
    Latitude
    28.0467
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,773
    $104,540
    $94,522
    $199,062
    -
    $104,540
    $94,522
    $199,062

    Comparable in this City

    • Value Estimation by Request

      2515 Bennett Rd

      Individual retail properties
      2515 Bennett Rd, Plant City, FL 33565
      View Details
    • Value Estimation
      $290,000
      2,036 SF

      5145 Harvey Tew Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,036 SF
      5145 Harvey Tew Rd, Plant City, FL 33565-6101
      View Details
    • Value Estimation
      $260,000
      2,470 SF

      8914 Knights Griffin Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,470 SF
      8914 Knights Griffin Rd, Plant City, FL 33565-3082
      View Details
    • Value Estimation
      $310,000
      2,220 SF

      3002 Wilder Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,220 SF
      3002 Wilder Rd, Plant City, FL 33565-2671
      View Details
    • Value Estimation by Request
      4,460 SF

      5210 Thonotosassa Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,460 SF
      5210 Thonotosassa Rd, Plant City, FL 33565-5700
      View Details
    • Value Estimation
      $745,000
      2,616 SF

      3669 Paul Buchman Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,616 SF
      3669 Paul Buchman Hwy, Plant City, FL 33565-5056
      View Details

    Similar Nearby for Sale

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      1.00 Acre

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    • $5,500,000

      Plant City Development Tract Available

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    • $750,000

      Land Available for Sale

      Land available for sale on W SAM ALLEN Rd.
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    • Contact for pricing
      29.00 Acres

      Plant City Commercial Land - 29 Acres

      Prime 29-acre tract, ideal for diverse development.
      4127 Alexander St, Plant City, FL 33565
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    • $700,000
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      8.39 Acres in Plant City

      8.39 acre tract, prime location for custom home.
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    3217 Cork Rd
    Plant City, FL 33565-5624
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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