Strip
New
For Sale
$1,350,000
9002 N 40TH ST, Tampa, FL 33604
Commercial plaza format with a 1960 construction date in Tampa.
Property Size3,888 SF
Days on Market4
Property Features for 9002 N 40TH ST
General Information
Standard status
Active
Size
3,888 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,070
Building Details
Building Size
3,888 SF
Year Built
1960
Listing Agency:
ROYAL REALTY REAL ESTATE, LLC
(347) 488-5715
Listed By:
Meriam Elmoufaddal · License #3538598
(347) 488-5715
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 6:47AM
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 ROYAL REALTY REAL ESTATE, LLC
Investment Insights
Based on property information with market context.
This strip mall is a commercial plaza property at 9002 N 40th St in Tampa, Florida. The building dates to 1960 and is classified within the strip mall property category.
The property records a Walk Score of 44, a Bike Score of 49, and a Transit Score of 31. These scores identify the site as car-dependent, somewhat bikeable, and served by some transit, respectively.
The property records a Walk Score of 44, a Bike Score of 49, and a Transit Score of 31. These scores identify the site as car-dependent, somewhat bikeable, and served by some transit, respectively.
Key Highlights
- Strip mall property at 9002 N 40TH ST, Tampa, FL 33604
- Built in 1960
- Walk Score: 44; car‑dependent
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
$46,294
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
3.43%
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%
$925,880
$925.9K
Cap Rate 7%
$661,343
$661.3K
Cap Rate 9%
$514,378
$514.4K
Market Conditions
NOI Build-Up for 3,888 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
$70.0K $18.00/SF
− Vacancy
−$3.8K −$0.99/SF
EGI
$66.1K $17.01/SF
− OpEx
−$19.8K −$5.10/SF
NOI
$46.3K $11.91/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$925,880
Cap Rate 7%
$661,343
Cap Rate 9%
$514,378
Alternative Uses
Best Use
Retail
$661.3K
$578.7K – $771.6K
NOI $46,294 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$905.8K
$792.6K – $1.06M
NOI $63,406 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Electronics 7%
Citgo
Shops & Services
7,633 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
567 visits/mo
0.4 miles
Demographics for 33604, FL
39,071
Population
17,053
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,209
Density / Sq Mi
$55,988
Median Household Income
$39,537
Median Earnings
$1,326
Median Rent
$264,900
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?
Strip mall - Commercial plaza format with a 1960 construction date in Tampa.
Where is this strip mall located?
The property is located at 9002 N 40TH ST Tampa, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Strip mall property at 9002 N 40TH ST, Tampa, FL 33604; Built in 1960; Walk Score: 44; car‑dependent
