Flex Campus with Two
For Sale
Contact for pricing
9417 Princess Palm Avenue, Tampa, FL 33619
Single-story workspace offers adaptable layouts and no interior common areas.
Property Size69,637 SF
Price / SF$136.06
Days on Market93
Property Features for 9417 Princess Palm Avenue
General Information
Standard status
Active
Size
69,637 SF
Class
B
Property subtype
Office, Industrial
Zoning
M
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
1985
Buildings
2
Stories
1
Units
322
Construction
brick veneer
Tenancy
Single
Parking Ratio
5.1 per 1,000 SF
Owner Occupied
Yes
Listed By:
Christine Mansour · License #3618970
Source:
Crexi
Added: Jun 2
Changed: Sep 2
Last Checked: Sep 1 at 10:25AM
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 Christine Mansour
Investment Insights
Based on property information with market context.
This 69,637 square foot flex property consists of two single-story buildings constructed in 1985. The campus uses a classic brick veneer exterior with tinted glass window systems, while the interior configuration avoids common areas and provides usable square footage equal to rentable square footage. Flexible planning accommodates a range of occupier footprints, and the parking ratio is 5.1 spaces per 1,000 square feet.
The property is located in Sabal Park in Tampa, with access to Interstate 75, U.S. Highway 301, and Interstate 4. Bisk Education has owned and occupied the buildings since 1994, using the property as its global corporate headquarters. The site is zoned M and carries a 100% fee simple interest.
The property is located in Sabal Park in Tampa, with access to Interstate 75, U.S. Highway 301, and Interstate 4. Bisk Education has owned and occupied the buildings since 1994, using the property as its global corporate headquarters. The site is zoned M and carries a 100% fee simple interest.
Key Highlights
- 69,637 square foot two‑building flex campus
- Single‑story buildings constructed in 1985
- No interior common areas; usable SF equals rentable SF
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
$845,751
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
8.93%
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%
$16,915,020
$16.9M
Cap Rate 7%
$12,082,157
$12.1M
Cap Rate 9%
$9,397,233
$9.4M
Market Conditions
NOI Build-Up for 69,637 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
$1.28M $18.36/SF
− Vacancy
−$70.3K −$1.01/SF
EGI
$1.21M $17.35/SF
− OpEx
−$362.5K −$5.21/SF
NOI
$845.8K $12.15/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.36 /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%
$16,915,020
Cap Rate 7%
$12,082,157
Cap Rate 9%
$9,397,233
Alternative Uses
Best Use
Office B
$13.52M
$11.83M – $15.77M
NOI $946,367 @ 7.0% cap · market cap 9.99%
Second Best
Flex RnD
$13.13M
$11.49M – $15.32M
NOI $919,041 @ 7.0% cap · market cap 9.70%
Theoretical Best
Office A
$16.22M
$14.20M – $18.93M
NOI $1,135,640 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33619, FL
39,881
Population
15,360
Households
2.6
Avg Household Size
35
Median Age
23%
College-Educated
83%
High-School Grad
27.5 sq mi
ZIP Area
1,450
Density / Sq Mi
$63,193
Median Household Income
$38,448
Median Earnings
$1,618
Median Rent
$220,300
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?
Flex space - Single-story workspace offers adaptable layouts and no interior common areas.
Where is this flex space located?
The property is located at 9417 Princess Palm Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $9,475,000.
What are key features of this property?
This property features: 69,637 square foot two‑building flex campus; Single‑story buildings constructed in 1985; No interior common areas; usable SF equals rentable SF
