Renovated Climate-Controlled Retail
For Sale
$950,000
9511 Nebraska Avenue, Tampa, FL 33612
Renovated, fully climate-controlled space with three private offices, conference room, breakroom, and a separate garage/storage area.
Property Size3,312 SF
Price / SF$286.84
Days on Market142
Property Features for 9511 Nebraska Avenue
General Information
Standard status
Active
Size
3,312 SF
Property subtype
Retail
Additional Details
Highway Access
Yes
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$9,374
Amenities
Central Air
3
Building Details
Year Built
1960
Stories
1
Listing Agency:
COLDWELL BANKER REALTY
(813) 289-1712
Listed By:
Karen Wingard
Source:
Xome
Added: Mar 28
Changed: Aug 14
Last Checked: Aug 16 at 3:37AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This renovated commercial property offers fully climate-controlled interior space designed for flexible retail or office use. The current layout includes three private offices, a conference room, and a renovated breakroom, along with updated restrooms and modern finishes throughout. A separate climate-controlled garage/storage area is accessible via a garage door and features 10-foot ceilings.
Ample parking is available at both the front and rear of the building. The property is located in the Central Business District of Tampa with convenient access to Downtown Tampa and major interstate highways.
The building is offered for sale and may be sold together with 9501 N Nebraska Ave, which is listed separately as part of a two-building offering.
Ample parking is available at both the front and rear of the building. The property is located in the Central Business District of Tampa with convenient access to Downtown Tampa and major interstate highways.
The building is offered for sale and may be sold together with 9501 N Nebraska Ave, which is listed separately as part of a two-building offering.
Key Highlights
- 3,312 SF fully climate‑controlled commercial space with Central Air
- Recently renovated inside and out with updated restrooms and modern finishes
- Interior layout includes three private offices and a conference room
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
$39,436
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
4.15%
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%
$788,720
$788.7K
Cap Rate 7%
$563,371
$563.4K
Cap Rate 9%
$438,178
$438.2K
Market Conditions
NOI Build-Up for 3,312 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
$59.6K $18.00/SF
− Vacancy
−$3.3K −$0.99/SF
EGI
$56.3K $17.01/SF
− OpEx
−$16.9K −$5.10/SF
NOI
$39.4K $11.91/SF
Area
ZIP 33612
Vacancy
5.50%
Lease Rate
$18.00 /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%
$788,720
Cap Rate 7%
$563,371
Cap Rate 9%
$438,178
Alternative Uses
Best Use
Retail
$563.4K
$493.0K – $657.3K
NOI $39,436 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$754.5K
$660.2K – $880.2K
NOI $52,812 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
89k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 26%
Groceries 24%
Electronics 1%
McDonald's
Dining
23,106 visits/mo
0.2 miles
Winn-Dixie
Groceries
21,462 visits/mo
0.1 miles
7-Eleven
Shops & Services
19,402 visits/mo
0.1 miles
Chevron
Shops & Services
7,641 visits/mo
0.2 miles
BP
Shops & Services
7,014 visits/mo
0.1 miles
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
Median Home Value
Market
Vacancy Rate% for Retail in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Renovated, fully climate-controlled space with three private offices, conference room, breakroom, and a separate garage/storage area.
Where is this retail space located?
The property is located at 9511 Nebraska Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,312 SF fully climate‑controlled commercial space with Central Air; Recently renovated inside and out with updated restrooms and modern finishes; Interior layout includes three private offices and a conference room
