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    3016 Gandy Blvd Tampa, FL 33611-2826
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    Property profile & analytics

    3016 Gandy Blvd, Tampa, FL 33611-2826

    View on Map
    • Drug stores
    • 14,856 SF
    • 1.43 lot acres
    Off-Market
    Last Sale Aug 14, 2023
    $7,265,000
    Property ID
    US18-2858490
    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.
    Value Estimations
    $7,030,000
    Show details
    Cap Rate Potential
    2.6%
    Drug stores
    Location Intelligence

    Current Use by Public Records

    • FedEx OnSite / Postal Service / Courier Service
    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
    • Walgreens / Pharmacy
    • Walgreens Pharmacy / Pharmacy

    Property Details for 3016 Gandy Blvd

    Year built
    2005
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.43 lot acres
    Zone code
    CG
    Property type
    Drug stores
    APN
    A1030183YX000005000060
    APU
    A1030183YX000005000060

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 14, 2023 $7,265,000 2702 South Orange LLC Cp Thunder Fs LLC Special Warranty Deed $4.5M · Morgan Stanley Private Bank NA
    Sep 6, 2022 $6,902,100 Cp Thunder Fs LLC Walgreen Co Special Warranty Deed $241.5M · Wells Fargo Bank NA
    Sep 6, 2022 — Walgreen Co Cp Thunder Fs LLC Lease —
    Dec 1, 2005 $3,764,000 Walgreen Co Hupp Retail Gandy LLC Grant Deed —
    Dec 22, 2004 — Hupp Retail Gandy LLC — Trustees Deed · related $3.7M · Amsouth Bank
    Jan 15, 2004 — Hupp Retail Gandy LLC Jutla,darshan S & Joyti Grant Deed · related —
    Dec 11, 2003 $1,900,000 Unknown Jutla,darshan S & Joyti Grant Deed —
    — — Darshan S Jutla — Deed Of Trust · related $800k · Southtrust Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,750,000
      ML approach
      $6,830,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,454,000
      Market price range: $1.75M - $4.93M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $7,160,000
      APARTMENT HOUSE (5+ UNITS)
      $5,450,000
      OFFICE BUILDING
      $4,430,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4934
    Latitude
    27.8932
    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
    $83,996
    $2,613,638
    $1,632,262
    $4,245,900
    -
    $2,613,638
    $1,632,262
    $4,245,900

    Comparable in this City

    • Value Estimation
      $2,980,000
      15,658 SF

      4401 Gandy Blvd

      DRUG STORE, PHARMACY
      4401 Gandy Blvd, Tampa, FL 33611-3301
      View Details
    • Value Estimation
      $4,600,000
      14,164 SF

      3863 Dl Mabry Hwy

      DRUG STORE, PHARMACY
      3863 Dl Mabry Hwy, Tampa, FL 33611-1405
      View Details
    • Value Estimation
      $2,125,000
      13,637 SF

      3102 Gandy Blvd

      DRUG STORE, PHARMACY
      3102 Gandy Blvd, Tampa, FL 33611-2928
      View Details
    • Value Estimation
      $3,165,000
      16,965 SF

      4738 Gandy Blvd

      DRUG STORE, PHARMACY
      4738 Gandy Blvd, Tampa, FL 33611-3308
      View Details
    • Value Estimation
      $1,020,000
      6,500 SF

      3823 Dl Mabry Hwy

      RETAIL STORES (PERSONAL SERVICES)
      3823 Dl Mabry Hwy, Tampa, FL 33611-1405
      View Details
    • Value Estimation by Request
      2,224 SF

      5247 Macdill Ave

      CONVENIENCE STORE
      5247 Macdill Ave, Tampa, FL 33611-4030
      View Details

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      Established Online Fitness Wear Business

      Turnkey online business specializing in fitness and swimwear for sale.
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      7,044 SF

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      Prime commercial property with high traffic and redevelopment potential.
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    Similar Nearby for Lease

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      2,000 SF

      Grocery Anchored Retail Space

      Retail space in a community shopping center anchored by Publix.
      3848-3940 S Dale Mabry Hwy, Tampa, FL 33611
      View Details
    • Contact for pricing
      25,000 SF

      Grocery-Anchored Shopping Center Space

      Retail space in a high-traffic, grocery-anchored shopping center.
      3802 S Dale Mabry Hwy, Tampa, FL 33611
      View Details
    • Contact for pricing
      5,779 SF

      Restaurant Building with Covered Patio

      5,779 SF freestanding restaurant near MacDill Air Force Base.
      4420 W Gandy Bv, Tampa, FL 33611
      View Details
    • Contact for pricing
      8,506 SF

      Retail Center on Gandy Boulevard

      Retail space in high-visibility Tampa location near major thoroughfares.
      4005-4015 W Gandy Blvd, Tampa, FL 33611
      View Details
    • $18 SF/Yr
      3,450 SF

      Tampa Retail/Office Space Available

      3450 SF retail/office space in Tampa, available March 2022.
      4811 W Gandy Blvd, Tampa, FL 33611
      View Details
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    Tampa, FL 33611-2826
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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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