Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2209 40th St Tampa, FL 33605-4558

    • Refrigerated & Cold Storages
    • 22,069 SF
    • 1.80 lot acres
    OFF-MARKET
    Last Sale
    Jul 11, 2023
    $2,365,000
    Value Estimations
    $2,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4048880
    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

    • Sunny Florida Dairy / Dairy Supplier
    • Extruder Gearbox Repair / Machine Shop
    • Lees Ice of Tampa Bay / Ice Supplier
    • Dairyland Milk Company / Convenience Store
    • Florida Ice of Tampa Corporation / Ice Supplier

    Property Details for 2209 40th St

    Year built
    1942
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.80 lot acres
    Property size
    22,069 SF
    Zone code
    IG
    Property type
    Refrigerated & Cold Storages
    APN
    A1629194D4000002000002
    APU
    A1629194D4000002000002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,200,000
      ML approach
      $2,170,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,002,000
      Market price range: $1.47M - $4.16M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,780,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4134
    Latitude
    27.9636
    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
    $24,491
    $346,088
    $819,012
    $1,165,100
    -
    $346,088
    $819,012
    $1,165,100

    Comparable in this City

    • Value Estimation
      $3,125,000
      27,132 SF

      2202 Barker Rd

      COLD STORAGE • 27,132 SF
      2202 Barker Rd, Tampa, FL 33605-6860
      View Details
    • Value Estimation
      $630,000
      12,369 SF

      4219 19th Ave

      COLD STORAGE • 12,369 SF
      4219 19th Ave, Tampa, FL 33605-3241
      View Details
    • Value Estimation
      $1,880,000
      19,168 SF

      3401 3rd Ave

      COLD STORAGE • 19,168 SF
      3401 3rd Ave, Tampa, FL 33605-5809
      View Details
    • Value Estimation by Request
      5,314 SF

      4503 Broadway Ave

      COLD STORAGE • 5,314 SF
      4503 Broadway Ave, Tampa, FL 33605-4609
      View Details
    • Value Estimation
      $2,170,000
      63,371 SF

      1102 28th St

      COLD STORAGE • 63,371 SF
      1102 28th St, Tampa, FL 33605-6246
      View Details
    • Value Estimation
      $555,000
      4,407 SF

      4020 11th Ave

      COLD STORAGE • 4,407 SF
      4020 11th Ave, Tampa, FL 33605
      View Details

    Similar Nearby for Sale

    • $690,000
      5,873 SF

      Warehouse in Ybor District

      Commercial warehouse in Ybor District, zoned CG.
      2804 E Columbus Dr, Tampa, FL 33605
      View Details
    • $340,000
      1,000 SF

      Premium Garage Condo Near Downtown

      Garage condo with HVAC, bath, WiFi, and security.
      1111 N 34Th St, Tampa, FL 33605
      View Details
    • $450,000
      1,200 SF

      Premium Gated Garage Storage Condo

      Climate-controlled storage condo near downtown Tampa and Ybor City.
      1111 N 34Th St, Tampa, FL 33605
      View Details
    • $246,000

      Tampa Commercial Land - $246K

      Prime Tampa location, 5,473 sq ft lot.
      900 22Nd Ave, Tampa, FL 33605
      View Details
    • $650,000
      1,256 SF

      Ybor City Office Building

      1,256 SF Office, Prime Location
      309 22Nd St, Tampa, FL 33605
      View Details
    • $1,999,900
      8,534 SF

      Ybor City Executive Office

      8,534 SF Office Building, 6% Cap Rate
      1401 22Nd Ave, Tampa, FL 33605
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      32,261 SF

      Tampa Warehouse Space Available

      Warehouse space available for lease in Tampa, Florida.
      110-120 N 20Th St, Tampa, FL 33605
      View Details
    • $10 SF/Yr
      17,300 SF

      Ybor City Warehouse For Lease

      7,600 SF warehouse with loading docks and paved lot.
      1405 E 2Nd Ave, Tampa, FL 33605
      View Details
    • Contact for pricing
      7,500 SF

      Tampa Distribution Center Space

      Industrial property suited for warehousing and distribution in Tampa.
      4704-4786 Distribution Dr, Tampa, FL 33605
      View Details
    • $7 SF/Yr
      28,909 SF

      Tampa Warehouse/Distribution Space Available

      28,929 SF warehouse/distribution space in Tampa available for lease.
      3606 E 4Th Ave, Tampa, FL 33605
      View Details
    • $13 SF/Yr
      13,534 SF

      Warehouse/Distribution Property Near Port Tampa

      Prime warehouse/distribution space with easy access to major expressways.
      904 S 20Th St, Tampa, FL 33605
      View Details
    • Contact for pricing
      50,000 SF

      Tampa Distribution Center for Lease

      Industrial property suitable for warehousing and distribution in Tampa, FL.
      4502-4740 Transport Dr, Tampa, FL 33605
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2209 40th St
    Tampa, FL 33605-4558
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.