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

    2501 Armenia Ave Tampa, FL 33607-2605

    • Retail space
    • 4,224 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Sep 02, 2021
    $750,000
    Value Estimations
    $755,000
    Show details
    Cap Rate Potential
    7.4%
    Retail space
    Location Intelligence
    Property ID
    US18-9418532
    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

    • Liquid Luck Ink / Tattoo And Piercing Shop
    • Adora Salon / Hair Salon
    • SKD Entertainment Soundstage / Event Venue
    • SKD Entertainment / Entertainment Agency

    Property Details for 2501 Armenia Ave

    Year built
    1927
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.13 lot acres
    Property size
    4,224 SF
    Zone code
    CI
    Property type
    Retail space
    APN
    A1429184PB000020000131
    APU
    A1429184PB000020000131

    Description

    This exceptional 1,600 square foot creative office space, located at 2501 Armenia Avenue, Unit 2, is now available for lease. The property is part of a larger building totaling 4,224 square feet and is classified as Class A. The building underwent a complete renovation in 2022, resulting in a move-in ready condition. The space features attractive historic details, including exposed brick and masonry construction, high ceilings, and a striking façade. Large storefront windows provide abundant natural light, ideal for showcasing a business. This single-tenant space is perfect for a variety of uses, including office space, salons, medical spas, or any retail business seeking high visibility. Its convenient location offers close proximity to Downtown Tampa and surrounding neighborhoods, ensuring excellent accessibility and exposure to a thriving community. The property is categorized as Retail, Office, and Special Purpose, reflecting its versatility and adaptability to diverse business needs. The space is currently vacant and ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $675,000
      ML approach
      $740,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $840,000
      6.5%
      $775,000
      7%
      $720,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $981,000
      Market price range: $498k - $1.40M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $940,000
      Current use
      MEDICAL BUILDING
      $1,140,000
      Change: +22% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,100,000
      Change: +17% Conversion: Moderate
      OFFICE BUILDING
      $935,000
      Change: -0% Conversion: Easy
      AUTO REPAIR, GARAGE
      $815,000
      Change: -13% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $805,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4847
    Latitude
    27.9632
    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
    $10,281
    $88,999
    $439,679
    $528,678
    -
    $88,999
    $439,679
    $528,678

    Comparable in this City

    • Value Estimation
      $1,610,000
      9,230 SF

      3005 Columbus Dr

      RETAIL STORES (PERSONAL SERVICES) • 9,230 SF
      3005 Columbus Dr, Tampa, FL 33607-2252
      View Details
    • Value Estimation
      $1,555,000
      8,826 SF

      2318 Dl Mabry Hwy, Unit 23

      RETAIL STORES (PERSONAL SERVICES) • 8,826 SF
      2318 Dl Mabry Hwy, Tampa, FL 33607-2549
      View Details
    • Value Estimation by Request
      918 SF

      3321 Cypress St

      RETAIL STORES (PERSONAL SERVICES) • 918 SF
      3321 Cypress St, Tampa, FL 33607-5005
      View Details
    • Value Estimation
      $625,000
      3,072 SF

      1506 Hubert Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,072 SF
      1506 Hubert Ave, Tampa, FL 33607-4109
      View Details
    • Value Estimation by Request
      2,258 SF

      2917 Columbus Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,258 SF
      2917 Columbus Dr, Tampa, FL 33607-2215
      View Details
    • Value Estimation by Request
      3,714 SF

      2139 Nassau St

      RETAIL STORES (PERSONAL SERVICES) • 3,714 SF
      2139 Nassau St, Tampa, FL 33607-5333
      View Details

    Similar Nearby for Sale

    • $2,545,000
      7,104 SF

      Tampa Mixed-Use Investment Opportunity

      Recently renovated mixed-use property near Midtown Tampa.
      3221-3233 Cypress St, Tampa, FL 33607
      View Details
    • New
      $550,000
      918 SF

      Commercial Property in North Hyde Park

      Versatile commercial property in a rapidly growing Tampa neighborhood.
      1305 N Armenia Ave, Tampa, FL 33607
      View Details
    • $350,000
      1,184 SF

      West Tampa Automotive Business Opportunity

      Commercial Intensive (CI) zoned property ideal for automotive businesses.
      1919 W Saint Joseph St, Tampa, FL 33607
      View Details
    • $1,350,000

      Howard Ave Development Site

      Tampa Land: 23,392 SF, $1.35M
      2103 Howard Ave, Tampa, FL 33607
      View Details
    • $1,199,900

      Profitable Charley's Cheesesteaks Franchise

      Turn-key restaurant franchise opportunity in Tampa's prime shopping destinations.
      2223 N West Shore Blvd, Tampa, FL 33607
      View Details
    • $250,000

      Tampa Restaurant & Bar for Sale

      Established eatery, prime location, high traffic.
      3117 Columbus Dr, Tampa, FL 33607
      View Details

    Similar Nearby for Lease

    • $26,400

      Retail Space Available For Rent

      Retail space available for lease in Tampa, Florida.
      1207 N Himes Ave, Tampa, FL 33607
      View Details
    • $24 SF/Yr
      1,200 SF

      Corner Retail Suite in Tampa

      1,200 SF retail space in rapidly redeveloping Old West Tampa.
      1702 N Howard Ave, Tampa, FL 33607
      View Details
    • Contact for pricing
      1,281 SF

      Retail Space Near High School

      Retail space located between Publix and Sprouts Farmers Market.
      1501 S Dale Mabry Hwy, Tampa, FL 33607
      View Details
    • Contact for pricing
      4,000 SF

      Class A+ Mixed-Use Development

      Class A+ mixed-use development in the heart of Westshore.
      4488 West Boy Scout Blvd, Tampa, FL 33607
      View Details
    • $9,200 /Mo
      8,500 SF

      West Tampa Warehouse/Showroom/Office Space

      8,500 SF warehouse/showroom/office space available for lease in Tampa, FL.
      2318 W Columbus Dr, Tampa, FL 33607
      View Details
    • $2,500 /Mo
      1,184 SF

      West Tampa Auto Shop Lease

      Auto shop for lease in the heart of West Tampa.
      1919 W Saint Joseph St, Tampa, FL 33607
      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.
    2501 Armenia Ave
    Tampa, FL 33607-2605
    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.