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    5511 Nebraska Ave Tampa, FL 33604

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    For Lease
    Contact for pricing

    Seminole Heights, New Medical Building

    Lot size:
    8,376 SF

    Property Features for 5511 Nebraska Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,376 SF
    Class
    A

    Building Details

    Year Built
    2025
    Buildings
    1

    Spaces For Lease

    at 5511 Nebraska Ave, Tampa, FL 33604 Contact us

    We can help!

    Listing Contact
    Jason Aprile

    Listing Agent: Jason Aprile

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Nebraska Crossings offers exceptional medical office space in the thriving Seminole Heights submarket of Tampa. This brand-new, Class A building, totaling 8,376 square feet, is slated for completion in Q3 2024. The property features six suites, with flexible space options ranging from a minimum of 1,188 square feet to a maximum contiguous space of 8,376 square feet. Ample parking is provided with 46 spaces (a generous 5.5 spaces per 1,000 square feet), ensuring convenient access for patients and staff. The building enjoys a highly visible location on the east side of North Nebraska Avenue, just north of the signalized intersection with East Hillsborough Avenue. This prime location benefits from its proximity to Interstate access and is situated directly in front of newly constructed luxury townhomes. Covered outdoor dining is available, adding to the property's appeal. The surrounding area is experiencing significant residential growth, with several new luxury apartment complexes recently completed or under construction, including Hite (81 units), Notch (112 units), Avenue Lofts (52 units), the upcoming Evelyn City Lofts (245 units), and a large-scale project by Richman Properties (456 units). This infill location within the popular Seminole Heights neighborhood, just north of Downtown Tampa, Tampa Heights, and Historic Ybor City, presents a unique opportunity for medical professionals seeking a modern, well-located practice space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto View LLC Car Dealership

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.451123085321
    Latitude
    27.997902722206

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    FAQs

    What type of property is this?
    Restaurant - Seminole Heights, New Medical Building
    Where is this restaurant located?
    The property is located at 5511 Nebraska Ave Tampa, FL.
    What are key features of this property?
    This property features: Class A, 8,376 SF medical office building in the Seminole Heights submarket.; New construction, delivering Q3 2024, with 6 suites ranging from 1,188 SF to 8,376 SF.; Ample parking with 46 spaces (5.5/1,000 SF), including covered outdoor dining areas.
    (813) 532-6432 Call to check price and availability
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    5511 Nebraska Ave Tampa, FL 33604
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    Tampa, FL 33604
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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
    5511 Nebraska Ave Tampa, FL 33604
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    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jason Aprile
    Real Estate License ID: 3204780
    (813) 532-6432
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