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    Property profile & analytics

    3010 138Th Ave Tampa, FL 33613

    • Medical offices
    • 29,496 SF
    • 1.53 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Last Sale
    Mar 17, 2022
    $6,200,000
    Value Estimations
    $6,110,000
    Cap Rate Potential
    8.2%
    Medical offices
    Location Intelligence
    Property ID
    US18-4806661
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Paul W. Terry, PT / Physical Therapist
    • Lucy Love MD / Neurosurgeon
    • Dr. Vasco M. Marques, MD / Cardiologist
    • Caruso Louis MD / Doctor
    • Bradenton Heart Center / Doctor

    Property Details for 3010 138Th Ave

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.53 lot acres
    Property size
    29,496 SF
    Zone code
    SPI-UC-2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    U052819ZZZ000001264100
    APU
    U052819ZZZ000001264100

    Description

    This exceptional three-story medical office building, totaling 22,279 square feet, presents a unique investment opportunity in Tampa, Florida. Constructed in 1982 and extensively renovated in 2014, the Class B building boasts 12-foot ceilings and ample parking with 94 spaces, including one free covered space per tenant. The property features updated interior finishes and a newly striped parking lot, complemented by a recently installed roof. A tenant improvement allowance is available. Currently, one suite of 4,354 square feet is available for lease. The building's strategic location offers unparalleled convenience, situated within walking distance of AdventHealth Tampa, a full-service hospital with a recently completed $256 million surgical tower. Its proximity to other major medical facilities, including the University of South Florida, Moffitt Cancer Center, the VA Hospital, and Shriners Healthcare, further enhances its appeal. The building enjoys excellent visibility, positioned just east of the signalized intersection of 138th Avenue and Bruce B Downs Boulevard, in the 33613 zip code. This property represents a compelling opportunity for medical professionals seeking a well-maintained, conveniently located space in a thriving healthcare hub.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,240,000
      ML approach
      $5,900,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,165,000
      6.5%
      $6,615,000
      7%
      $6,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,693,000
      Market price range: $5.45M - $10.6M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $7,975,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $7,675,000
      Change: -4% Conversion: Difficult
      OFFICE BUILDING
      $6,995,000
      Change: -12% Conversion: Easy
      RETAIL STORES
      $6,550,000
      Change: -18% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4242
    Latitude
    28.0734
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $89,885
    $362,945
    $4,757,755
    $5,120,700
    -
    $362,945
    $4,757,755
    $5,120,700

    Comparable in this City

    • Value Estimation
      $310,000
      3,142 SF

      14516 19th St

      MEDICAL BUILDING • 3,142 SF
      14516 19th St, Tampa, FL 33613-2411
      View Details
    • Value Estimation
      $375,000
      9,519 SF

      13905 Bruce B Downs Blvd

      MEDICAL BUILDING • 9,519 SF
      13905 Bruce B Downs Blvd, Tampa, FL 33613-3998
      View Details
    • Value Estimation
      $320,000
      2,072 SF

      14447 University Cv Pl

      MEDICAL BUILDING • 2,072 SF
      14447 University Cv Pl, Tampa, FL 33613-3741
      View Details
    • Value Estimation
      $1,350,000
      5,822 SF

      13510 Rome Ave

      MEDICAL BUILDING • 5,822 SF
      13510 Rome Ave, Tampa, FL 33613-2027
      View Details
    • Value Estimation
      $300,000
      5,426 SF

      4444 Fletcher Ave Ste C

      MEDICAL BUILDING • 5,426 SF
      4444 Fletcher Ave Ste C, Tampa, FL 33613-4905
      View Details
    • Value Estimation
      $315,000
      2,060 SF

      3250 Cv Bnd Dr

      MEDICAL BUILDING • 2,060 SF
      3250 Cv Bnd Dr, Tampa, FL 33613-2752
      View Details

    Similar Nearby for Sale

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      Located in the heart of Tampa's medical community.
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    Similar Nearby for Lease

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    • Contact for pricing
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    3010 138Th Ave
    Tampa, FL 33613
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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