Industrial Flex Building with
For Sale
$2,693,480
9945 RACE TRACK Road, Tampa, FL 33626
COMMERCIAL - TAMPA, FL
Property Size15,844 SF
Lot Size1.05 Acres
Price / SF$170
Days on Market94
Property Features for 9945 RACE TRACK Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CI
Directions
Property is located on the south side of Racetrack Road between Tampa Road and Hillsborough Avenue in the Westchase / Oldsmar area of Northwest Hillsborough County. From the Veterans Expressway, exit west onto Hillsborough Avenue, turn north onto Racetrack Road, and continue approximately 2 miles to the property located on the left-hand side.
Subdivision
33626 - Tampa/Northdale/Westchase
Standard status
Active
APN
U-19-28-17-9FS-000000-C0000.0
Size
15,844 SF
Lot size
1.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
RACETRACK ROAD BUSINESS PARK PARCEL C
Tax Annual Amount
30247
Legal Description
RACETRACK ROAD BUSINESS PARK PARCEL C
Building Details
Year built
2000
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
KELLER WILLIAMS TAMPA PROP. · Keller Williams Realty
(813) 264-7754
Listed By:
Alexander Lucke · License #3351552
(727) 410-2896
Added: May 14
Changed: Aug 13
Last Checked: Aug 15 at 1:06PM
MLS# TB8508609
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
For sale 9945 Racetrack Road is a 2000-built industrial/flex building on approximately 45,738 SF of land with more than 240 feet of direct frontage along Racetrack Road. The property totals approximately 15,844 SF and combines warehouse, showroom/display, attached office, and covered loading areas, currently owner-occupied by Quality Plus Cleaners and delivered vacant at closing.
The building features metal frame construction with a steel frame metal roof system and offers a clear height range of approximately 16' to beam and 18' to 21' to ceiling. Loading includes two (2) 8' x 8' receiving doors, one (1) 12' x 12' overhead door, six (6) oversized 12' x 16' grade-level overhead doors, and three (3) 7' x 14' receiving doors. Two covered drive-through loading/carport areas are also provided, with canopy heights of approximately 20'.
Zoned CI, the property is served by 480-volt three-phase power with multiple electrical panels. The front portion includes approximately 1,570 SF of showroom/display area with attached office space and approximately 964 SF of second-floor mezzanine-style office overlooking the warehouse.
The building features metal frame construction with a steel frame metal roof system and offers a clear height range of approximately 16' to beam and 18' to 21' to ceiling. Loading includes two (2) 8' x 8' receiving doors, one (1) 12' x 12' overhead door, six (6) oversized 12' x 16' grade-level overhead doors, and three (3) 7' x 14' receiving doors. Two covered drive-through loading/carport areas are also provided, with canopy heights of approximately 20'.
Zoned CI, the property is served by 480-volt three-phase power with multiple electrical panels. The front portion includes approximately 1,570 SF of showroom/display area with attached office space and approximately 964 SF of second-floor mezzanine-style office overlooking the warehouse.
Key Highlights
- Industrial/flex building built in 2000 with metal siding and a metal roof
- Approximately 15,844 SF building on approximately 45,738 SF of land with 240+ ft of direct frontage
- Warehouse and operational space includes 16' clear to beam and 18' to 21' clear to ceiling
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
$233,662
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
8.68%
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%
$4,673,240
$4.7M
Cap Rate 7%
$3,338,029
$3.3M
Cap Rate 9%
$2,596,244
$2.6M
Market Conditions
NOI Build-Up for 15,844 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
$290.9K $18.36/SF
− Vacancy
−$16.0K −$1.01/SF
EGI
$274.9K $17.35/SF
− OpEx
−$41.2K −$2.60/SF
NOI
$233.7K $14.75/SF
Area
Tampa, FL
Vacancy
5.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
15.00%
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%
$4,673,240
Cap Rate 7%
$3,338,029
Cap Rate 9%
$2,596,244
Alternative Uses
Best Use
Warehouse
$3.34M
$2.92M – $3.89M
NOI $233,662 @ 7.0% cap · market cap 8.68%
Second Best
Office B
$3.08M
$2.69M – $3.59M
NOI $215,320 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,384 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
12
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33626, FL
31,875
Population
12,392
Households
2.6
Avg Household Size
39
Median Age
64%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
2,591
Density / Sq Mi
$123,580
Median Household Income
$72,888
Median Earnings
$2,127
Median Rent
$506,600
Median Home Value
Market
Vacancy Rate% for Office in Tampa, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- LOKO Cuisine — 107 Dunbar Ave, Oldsmar, FL 34677
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse with showroom and office space, multiple grade-level and receiving doors, and covered drive-through loading areas.
Where is this flex space located?
The property is located at 9945 RACE TRACK Road Tampa, FL.
What is the asking price?
The asking price for this property is $2,693,480.
What are key features of this property?
This property features: Industrial/flex building built in 2000 with metal siding and a metal roof; Approximately 15,844 SF building on approximately 45,738 SF of land with 240+ ft of direct frontage; Warehouse and operational space includes 16' clear to beam and 18' to 21' clear to ceiling
