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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2525 Hillsborough Ave Tampa, FL 33610

    • Super regional malls
    • 91,503 SF
    • 13.81 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7739454
    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

    • Tampa Festival Centre / Shopping Center & Mall
    • Little Caesars Pizza / Restaurant
    • Almando Sapp Jr, PharmD / Pharmacy
    • Chandravadan J Patel, MD Palm Primary Care - Alpha / Medical Clinic
    • Deboarh D. Davis, RPH / Pharmacy

    Property Details for 2525 Hillsborough Ave

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    13.81 lot acres
    Property size
    91,503 SF
    Zone code
    CI
    Property type
    Super regional malls
    APN
    A0529199UJ000000000040
    APU
    A0529199UJ000000000040

    Description

    Tampa Festival Centre offers a prime retail opportunity in a thriving Tampa neighborhood. This recently renovated and expanded strip center boasts 141,580 square feet of leasable space and features a strong tenant mix including Key Food Supermarket, Citi Trends, Rainbow, Family Dollar, Rent-A-Center, Hibbett Sports, T-Mobile, and Little Caesars. Located on a spacious 14.6-acre site on Hillsborough Avenue, just east of I-275 and north of the Central Business District, the center benefits from high visibility and accessibility with ample parking. The property enjoys a 53,500 AADT on East Hillsborough Avenue, ensuring significant foot traffic. Currently, there is one space available, ranging from 1 to 35,600 square feet, providing flexibility for various retail concepts. The center's above-average customer visit frequency of 3.23 demonstrates its strong appeal to shoppers. This is an exceptional opportunity to establish a presence in a bustling and well-established retail center within a dynamic Tampa community. A 3,221 square foot space is immediately available for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4316
    Latitude
    27.9945
    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
    $230,921
    $5,507,436
    $5,228,364
    $10,735,800
    -
    $5,507,436
    $5,228,364
    $10,735,800

    Comparable in this City

    • Value Estimation
      $7,420,000
      64,875 SF

      2231 Hillsborough Ave

      REGIONAL SHOPPING CENTER, MALL • 64,875 SF
      2231 Hillsborough Ave, Tampa, FL 33610-4402
      View Details
    • Value Estimation
      $6,775,000
      63,587 SF

      2301 Hillsborough Ave

      REGIONAL SHOPPING CENTER, MALL • 63,587 SF
      2301 Hillsborough Ave, Tampa, FL 33610-4404
      View Details
    • Value Estimation
      $915,000
      5,790 SF

      2211 Hillsborough Ave

      REGIONAL SHOPPING CENTER, MALL • 5,790 SF
      2211 Hillsborough Ave, Tampa, FL 33610-4402
      View Details
    • Value Estimation
      $1,880,000
      10,208 SF

      3016 Hillsborough Ave

      SHOPPING CENTER, STRIP CENTER • 10,208 SF
      3016 Hillsborough Ave, Tampa, FL 33610-4526
      View Details
    • Value Estimation
      $1,065,000
      5,280 SF

      5208 22nd St

      SHOPPING CENTER, STRIP CENTER • 5,280 SF
      5208 22nd St, Tampa, FL 33610-5030
      View Details
    • Value Estimation by Request
      1,192 SF

      2415 Lk Ave

      SHOPPING CENTER, STRIP CENTER • 1,192 SF
      2415 Lk Ave, Tampa, FL 33610-7635
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      141,580 SF

      Tampa Festival Centre Retail Space

      High-traffic Tampa retail center; space available.
      2525 Hillsborough Ave, Tampa, FL 33610
      View Details
    • $22 SF/Yr
      5,123 SF

      New Retail/Office Space Available

      Under construction retail/office space in East Tampa.
      2409 E Lake Ave, Tampa, FL 33610
      View Details
    • $14 SF/Yr
      4,242 SF

      Eastlake Centre: Tampa Flex Space

      Prime Tampa flex space, high visibility, ample parking.
      6201 Hillsborough Ave, Tampa, FL 33610
      View Details
    • Contact for pricing
      11 SF

      Prime Parking Available For Lease

      Up to 11 acres of lit and paved parking available.
      5701 East Hillsborough Ave, Tampa, FL 33610
      View Details
    • $12 SF/Yr
      4,545 SF

      Retail/Office/Flex Space on Hillsborough Ave

      Retail/office/flex space with high visibility and ample parking.
      6201 E Hillsborough Ave, Tampa, FL 33610
      View Details
    • Contact for pricing
      1,152 SF

      Prime Retail Lot: I-75 & I-4 Access

      2.5-Acre Retail Parcel, 1,152 SF Building
      5510 Carmack Rd, Tampa, FL 33610
      View Details
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    Tampa, FL 33610
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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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