Office Buildings For
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Pending
Cleveland St & Moody Ave, Tampa, FL 33609
Two office buildings totaling 5,427 SF with 18 parking spaces.
Property Size5,427 SF
Days on Market770
Property Features for Cleveland St & Moody Ave
General Information
Standard status
Pending
Size
5,427 SF
Class
C
Total Parking Spaces
18
Property subtype
Office
Zoning
Office
Investment Type
Owner/User
Building Details
Year Built
1907
Buildings
2
Tenancy
Multi
Listing Agency:
Franklin Street Tampa
Listed By:
Nick Polo · License #SL3552351
Source:
Crexi
Added: Jul 22, 2024
Changed: Aug 26
Last Checked: Aug 25 at 9:19PM
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 Franklin Street Tampa
Investment Insights
Based on property information with market context.
This offering presents an opportunity for an owner/user, investor, or development. The property consists of two buildings. One building at 2304 W Cleveland St provides 2,358 square feet, and the other at 202 S Moody Ave offers 3,069 square feet, totaling 5,427 square feet. Both buildings include a reception area, conference room, break room, and private rooms. There are 18 parking spaces available. A Bank Of Tampa building is under construction next door. A short-term lease is currently in place.
Key Highlights
- Development Opportunity
- 5,427 SF Total Building Size with 18 Parking Spaces
- Owner / User or Investor Potential
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
$73,753
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
2.95%
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%
$1,475,060
$1.5M
Cap Rate 7%
$1,053,614
$1.1M
Cap Rate 9%
$819,478
$819.5K
Market Conditions
NOI Build-Up for 5,427 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
$130.2K $24.00/SF
− Vacancy
−$31.9K −$5.88/SF
EGI
$98.3K $18.12/SF
− OpEx
−$24.6K −$4.53/SF
NOI
$73.8K $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 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%
$1,475,060
Cap Rate 7%
$1,053,614
Cap Rate 9%
$819,478
Alternative Uses
Best Use
Office B
$1.05M
$921.9K – $1.23M
NOI $73,753 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.11M – $1.48M
NOI $88,504 @ 7.0% cap · market cap 3.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,395
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
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two office buildings totaling 5,427 SF with 18 parking spaces.
Where is this office building located?
The property is located at Cleveland St & Moody Ave Tampa, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Development Opportunity; 5,427 SF Total Building Size with 18 Parking Spaces; Owner / User or Investor Potential
