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    1624 7Th Ave Tampa, FL 33605

    Sponsored
    For Lease
    $48 SF/Yr

    Prime Ybor City office suite, fully renovated.

    Lot size:
    30,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 451-square-foot office condo, located at 1624 E 7th Ave in Tampa, FL 33605, offers a vibrant workspace in the heart of Ybor City's historic district. Part of a larger two-building complex with a total of 30,000 square feet, this third-floor suite is immediately available and features large windows, high ceilings, and a flexible floor plan, perfect for creative professionals, entrepreneurs, or small businesses. The suite has been fully renovated and is ADA accessible via elevator. Shared amenities include a common kitchen/breakroom. The building offers 20 total parking spaces, with assigned/reserved parking located to the rear on 8th Avenue. This prime location provides direct 7th Avenue access and frontage, a short walk to Centro Ybor and all Ybor City amenities. The property benefits from its location in a qualified HUBZone, offering convenient access to major travel arteries including Interstate 4, and is just 1.5 miles away. The surrounding area boasts a strong population of 87,968 residents within a 3-mile radius, with an average household income exceeding $57,172. Excellent accessibility is provided via N. 22nd Street, N. 15th Street, Nebraska Avenue, or Hwy 60/Adamo Drive, making it ideal for streetcar commuters. The property is minutes from Downtown Tampa, Channel District, Tampa River Walk, Hyde Park, Seminole Heights, Interstate 275, Interstate 4, and the Selmon Expressway. Nearby businesses include Truist Bank, the Haya Hotel, Tampa Brewing Company, and numerous restaurants and entertainment venues. The property's zoning is YC-1, and the APN is 19291850N000056000090A. This is a rare opportunity to secure a highly desirable office space in a thriving and dynamic location.

    Property Features for 1624 7Th Ave

    General Information

    Property type
    Coworking space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    30,000 SF
    Total Rate
    120000

    Building Details

    Year Built
    1920
    Buildings
    2
    Stories
    3

    Unit(s) available at that property

    Space
    310
    Size
    451 SF
    Rate per SF
    $48

    We can help!

    Listing Contact
    Tina Marie Eloian
    Tina Marie Eloian

    Learn more

    HighLights

    • 1624 E. 7th Avenue, Tampa, FL: Premier commercial office space available for lease.
    • High‑visibility location on 7th Avenue with excellent signage opportunities and over 5,500 vehicles per day.
    • High pedestrian traffic due to nearby thriving businesses. On‑site and nearby parking available.
    • Close proximity to hotels (Hampton Inn & Suites, Haya Hotel), restaurants, retail, banking, and residential areas.
    • Convenient access to I‑4, I‑275, Lee Roy Selmon Expressway, HART public transit, and the TECO Line Streetcar.
    Property Profile Location Intelligence

    Current Use by Public Records

    U.S. Customs and Border ... Federal Government Office RDP Studio Photography Studio Tempus Projects Non-Profit Organization Mergeculture Art Gallery Screen Door: An Ybor ... Movie Theater

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.44080433587
    Latitude
    27.960252965743

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    FAQs

    What type of property is this?
    Coworking space - Prime Ybor City office suite, fully renovated.
    Where is this coworking space located?
    The property is located at 1624 7Th Ave Tampa, FL.
    What is the lease rate?
    The lease rate is $48 SF/Yr.
    What are key features of this property?
    This property features: 1624 E. 7th Avenue, Tampa, FL: Premier commercial office space available for lease.; High-visibility location on 7th Avenue with excellent signage opportunities and over 5,500 vehicles per day.; High pedestrian traffic due to nearby thriving businesses. On-site and nearby parking available.
    Request Owner's contact information
    1624 7Th Ave Tampa, FL 33605
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    Tampa, FL 33605
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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
    1624 7Th Ave Tampa, FL 33605
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    We can help!
    Listing Contact
    Tina Marie Eloian
    Tina Marie Eloian
    Real Estate License ID: BK653748
    Learn more
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