902 N ARMENIA AVENUE, Tampa, FL 33609

Building Details

Year Built 1948 More

Listing Agency: SELLSTATE COASTAL REALTY

Listed By: Taylor Cresswell · License #3488121 Show Phone

Source: Sanfelascorealestate

Added: Oct 5 Changed: Nov 8 Last Checked: Nov 8 at 4:17PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,776-square-foot office building contains multiple private offices and tall ceilings. Two separate entrances support a layout that can accommodate an owner occupying part of the building while leasing another portion. The property was built in 1948 and has been updated.

The building fronts Armenia Avenue, a one-way street, with signage on the property. On-site parking is available, along with street parking on both sides of the road. Major Tampa roadways and nearby commercial districts are accessible from the property, with residential neighborhoods also in the surrounding area.

Key Highlights

• 1,776‑square‑foot office building
• Multiple private offices and tall ceilings
• Two separate entrances allow for a multi‑tenant layout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,136

Cap Rate

2.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$482,720 $482.7K

Cap Rate 7%

$344,800 $344.8K

Cap Rate 9%

$268,178 $268.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,776 SF

Gross rent

$42.6K $24.00/SF

− Vacancy

−$10.4K −$5.88/SF

EGI

$32.2K $18.12/SF

− OpEx

−$8.0K −$4.53/SF

NOI

$24.1K $13.59/SF

Area

Tampa, FL

Vacancy

24.50%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$482,720

Cap Rate 7%

$344,800

Cap Rate 9%

$268,178

Alternative Uses

Best Use

Office B

$344.8K

$301.7K – $402.3K (±1% cap)

NOI $24,136 @ 7.0% cap · market cap 2.84%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$413.8K

$362.0K – $482.7K (±1% cap)

NOI $28,963 @ 7.0% cap · market cap 3.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Daniel M. Hernandez, ... Law Firm Shrader, Mendez & O’Connell ... Law Firm Mc Cabe Robert ... Law Firm Castillo Jr Nestor Law Firm

Suggested Use

Top Pick Auto Parts Store Florist (Bike/Boat/Book/etc) Store Pet Store Pet Grooming Service Mobile Phone Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

2,077

Businesses Nearby

Explore this area Business Placement

Demographics for 33609, FL

17,902

Population

9,169

Households

2

Avg Household Size

38

Median Age

63%

College-Educated

94%

High-School Grad

4.0 sq mi

ZIP Area

4,476

Density / Sq Mi

$105,083

Median Household Income

$66,567

Median Earnings

$1,818

Median Rent

$526,000

Median Home Value

Market

Average Price Trend$/SF for Office buildings in Tampa, FL

$414 Jul

$411 Aug

$422 Sep

$386 Oct

Properties on Market for Office buildings in Tampa

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Tampa, FL

13.8% 2019

14.2% 2020

19.1% 2021

22.3% 2022

21.9% 2023

20.7% 2024

18.9% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Multiple private offices and separate access points allow for flexible owner occupancy or a multi-tenant arrangement.

Where is this office building located?

The property is located at 902 N ARMENIA AVENUE Tampa, FL.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 1,776‑square‑foot office building; Multiple private offices and tall ceilings; Two separate entrances allow for a multi‑tenant layout