Freestanding Flex and Office
For Sale
Contact for pricing
9610 Harney Road, Thonotosassa, FL 33592
Freestanding owner-user campus with renovated offices, covered dock loading, and multiple grade-level doors on fenced acreage.
Property Size21,864 SF
Lot Size1.80 Acres
Price / SF$118.46
Days on Market56
Property Features for 9610 Harney Road
General Information
Standard status
Active
Size
21,864 SF
Lot size
1.80 Acres
Property subtype
Retail, Industrial, Special Purpose
Zoning
CG
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Building Details
Year Built
1984
Year Renovated
2017
Buildings
2
Stories
2
Units
2
Listing Agency:
Lamm Properties, Inc
Listed By:
Jeff Lamm · License #FL BK3068676
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 8 at 3:34PM
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 Lamm Properties, Inc
Investment Insights
Based on property information with market context.
This freestanding owner-user facility totals 21,864 SF across two buildings and is set on approximately 1.80 fenced acres in East Hillsborough County. The property includes renovated office areas totaling approximately 3,388 SF, along with covered dock-high loading between the buildings and multiple grade-level doors to support varied operational needs. Significant on-site parking and a full campus security system are included, and the roof was installed in 2017 with a transferable 30-year warranty.
The site is positioned for regional connectivity, with access approximately 1.2 miles from Interstate 75, 1.3 miles from US Highway 301, and about 4 miles from Interstate 4. The combination of fenced grounds, campus security, and dedicated parking supports an organized day-to-day workflow while keeping operations self-contained.
The property’s layout and improvements are well suited to tenants or buyers seeking a mix of office and warehouse functionality within a controlled campus setting. Reported potential uses include corporate or regional headquarters, contractor offices without outside storage, service companies, equipment sales and service, trade schools, medical or professional offices, nonprofit organizations, educational uses, and research activities under Commercial General (CG) zoning. Buyer or tenant should independently confirm zoning, permitted uses, and suitability with Hillsborough County for their specific business plan.
The site is positioned for regional connectivity, with access approximately 1.2 miles from Interstate 75, 1.3 miles from US Highway 301, and about 4 miles from Interstate 4. The combination of fenced grounds, campus security, and dedicated parking supports an organized day-to-day workflow while keeping operations self-contained.
The property’s layout and improvements are well suited to tenants or buyers seeking a mix of office and warehouse functionality within a controlled campus setting. Reported potential uses include corporate or regional headquarters, contractor offices without outside storage, service companies, equipment sales and service, trade schools, medical or professional offices, nonprofit organizations, educational uses, and research activities under Commercial General (CG) zoning. Buyer or tenant should independently confirm zoning, permitted uses, and suitability with Hillsborough County for their specific business plan.
Key Highlights
- Freestanding facility totaling approx. 21,864 SF with two buildings on approx. 1.80 fenced acres
- Renovated office areas totaling approx. 3,388 SF
- Covered dock‑high loading between the buildings and multiple grade‑level doors
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
$235,344
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
9.09%
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%
$4,706,880
$4.7M
Cap Rate 7%
$3,362,057
$3.4M
Cap Rate 9%
$2,614,933
$2.6M
Market Conditions
NOI Build-Up for 21,864 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
$393.6K $18.00/SF
− Vacancy
−$31.5K −$1.44/SF
EGI
$362.1K $16.56/SF
− OpEx
−$126.7K −$5.80/SF
NOI
$235.3K $10.76/SF
Area
Hillsborough County, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$4,706,880
Cap Rate 7%
$3,362,057
Cap Rate 9%
$2,614,933
Alternative Uses
Best Use
Industrial
$3.79M
$3.32M – $4.43M
NOI $265,541 @ 7.0% cap · market cap 10.25%
Second Best
Flex RnD
$3.36M
$2.94M – $3.92M
NOI $235,344 @ 7.0% cap · market cap 9.09%
Theoretical Best
Office A
$6.33M
$5.54M – $7.39M
NOI $443,238 @ 7.0% cap · market cap 17.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33592, FL
11,885
Population
4,944
Households
2.4
Avg Household Size
42
Median Age
26%
College-Educated
81%
High-School Grad
53.1 sq mi
ZIP Area
224
Density / Sq Mi
$65,683
Median Household Income
$37,391
Median Earnings
$1,134
Median Rent
$247,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding owner-user campus with renovated offices, covered dock loading, and multiple grade-level doors on fenced acreage.
Where is this flex space located?
The property is located at 9610 Harney Road Thonotosassa, FL.
What is the asking price?
The asking price for this property is $2,590,000.
What are key features of this property?
This property features: Freestanding facility totaling approx. 21,864 SF with two buildings on approx. 1.80 fenced acres; Renovated office areas totaling approx. 3,388 SF; Covered dock‑high loading between the buildings and multiple grade‑level doors
