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    Ybor City Prime Office Suites Title is generated by Realmo AI

    2109 E Palm Ave, Tampa, FL 33605

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    Prime office suites for lease in the heart of Ybor.

    Type:Office
    Property size:
    2,198 SF
    Added:
    Feb 1, 2020
    Days on Market:
    2311
    Last Refresh:
    May 20 at 12:38 am

    Property Features for 2109 E Palm Ave

    General Information

    Standard status
    Active
    Size
    2,198 SF
    Property subtype
    Office

    Building Details

    Year Built
    1925

    Spaces For Lease

    at 2109 E Palm Ave Contact us

    We can help!

    Listing Contact
    Tina Marie Eloian

    Listing agent Tina Marie Eloian License #BK653748

    Listing office Florida Commercial Group

    Listing date Feb 1, 2020

    Source Crexi

    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 Florida Commercial Group

    HighLights

    • Prime location in the heart of Ybor City with direct access and frontage on 22nd Street and Palm Avenue.
    • Immediate occupancy with professional/modern decor and ADA accessibility with elevator.
    • Assigned/reserved parking on multiple avenues (Palm, 9th, and 7th).
    • Convenient access to major travel arteries, including I‑4 on ramps (1/4 mile), I‑275, Selmon Expressway, and Hwy 60/Adamo Drive.
    • Situated in a qualified HUBZone.
    • Strong surrounding population and high average household income within a 3‑mile radius.

    Overview

    Located in the heart of Ybor City, prime office suites are available for lease on the 1st, 2nd, and 3rd floors. Suite sizes range from 704.2 RSF to 2,197.7 RSF, with additional options at 1,155.12 RSF and 2,125.6 RSF. The building's design features a functional layout with numerous offices suitable for various uses. Immediate occupancy is available. The property features professional and modern decor and is ADA accessible with an elevator. It is ideally suited for professional offices, creative spaces, executive suites, or high-tech workspaces. The property benefits from a prime Ybor City mailing address and direct access and frontage on 22nd Street and Palm Avenue. Assigned and reserved parking is available on Palm Avenue, 9th Avenue, and 7th Avenue. The location is central to bustling Ybor City, a short walk to Centro Ybor and all Ybor amenities, and situated in a qualified HUBZone. It offers convenient access to major travel arteries and is located 1/4 mile from Interstate 4 on ramps. The surrounding area has a strong population of 108,348 residents within a 3-mile radius, with an average household income exceeding $85,150 within the same radius. Accessibility is excellent from N. 22nd Street, N. 15th Street, Nebraska Avenue, and Hwy 60/Adamo Drive, with great access for Streetcar commuters traveling between Ybor City and Downtown Tampa. The property is minutes from Downtown Tampa, Channel District, Tampa River Walk, Hyde Park, Seminole Heights, Interstate 275, Interstate 4, the Selmon Expressway, and other major travel arteries. The suites are suitable for professionals, tech companies, consultants, entrepreneurs, and developers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Representative Betty Reed State Government Office Gary Howell, Psy.D., ... Physician Ben Ray Massage Alternative Medicine Practice Bennett, Jacobs & Adams ... Law Firm Media Star Promotions ... Advertising Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.43495
    Latitude
    27.962028

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    FAQs

    What type of property is this?
    Office units - Prime office suites for lease in the heart of Ybor.
    Where is this office units located?
    The property is located at 2109 E Palm Ave Tampa, FL.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Prime location in the heart of Ybor City with direct access and frontage on 22nd Street and Palm Avenue.; Immediate occupancy with professional/modern decor and ADA accessibility with elevator.; Assigned/reserved parking on multiple avenues (Palm, 9th, and 7th).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tina Marie Eloian
    Real Estate License ID: BK653748
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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.

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