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Property profile & analytics
FOR LEASE
Office buildings
1242 East 5Th Ave Tampa, FL 33605
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-7976610
For Lease
1 / 12
$10,860,000
1242 East 5Th Ave, Tampa, FL 33605
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2020
Construction
STEEL FRAME
Total area
58,800 SF
Lot
0.46 ac (20,255 SF)
Zoning code
YC-6
APN
A1829194WF000018000010
UPID
US18-7976610
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Mindr Production Facility Building Supply
-
Masonite Headquarters - Mason Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.12M
Comparable Approach
Comparable
$9.81M
Blend (final)
Blend
$10.86M
Owner & transaction history
PROJECT RENAISSANCE LLC
PROJECT RENAISSANCE LLC
Zoning & alternative use
YC-6 · Tampa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tampa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tampa submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$14,205,000
6.5%
$13,115,000
7%
$12,175,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$15,970,000
Current use
MEDICAL BUILDING
$15,895,000
Change: 0% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$15,295,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$13,055,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$10.86M
Range $9.77M – $11.95M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$185 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$239,784
Tax year 2023
Assessed value
$12,380,800
Assessed 2023
Previous assessed
$11,856,000
+4.4% YoY
Effective rate
1.94%
On assessed value
Assessed land
$405,100
Assessed improvement
$11,975,700
Land market value
$405,100
Improvement market value
$11,975,700
Total market value
$12,380,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
2020
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
4
Units
1
Rooms
14
Bathrooms
5
Total area
58,800 SF
Lot
0.46 ac (20,255 SF)
Zoning code
YC-6
APN
A1829194WF000018000010
UPID
US18-7976610
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
YC-6 · Tampa, FL
Zoning YC-6 · permitted uses
YC-6 · Tampa, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tampa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$16.0M
MEDICAL BUILDING
Est. value
$15.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$15.3M
RETAIL STORES
Est. value
$13.1M
OFFICE BUILDING Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2020
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
4
Units
1
Rooms
14
Bathrooms
5
Lot
0.46 ac
Current owner
From public records · entity-resolved
PROJECT RENAISSANCE LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1228 E 7TH AVE STE #100, TAMPA, FL 33605-3510
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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