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

    3642 Gandy Blvd Tampa, FL 33611

    • Strip malls
    • 12,600 SF
    • 1.38 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1427707
    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

    • massage vigor / Massage Spa
    • Casa Mexicana Bar & Grill / Taco Restaurant / Mexican Restaurant
    • Phantom Fireworks of Tampa South, FL / Fireworks Store / Boutique
    • Bliss Nail Salon Spa / Nail Salon

    Property Details for 3642 Gandy Blvd

    Year built
    1989
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.38 lot acres
    Property size
    12,600 SF
    Zone code
    CG
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    A0930183YM000000000060
    APU
    A0930183YM000000000060

    Description

    This exceptional 12,000 square foot retail property, located at 3642 West Gandy Boulevard in Tampa, Florida, presents a compelling investment opportunity. Situated on a 1.39-acre lot in Hillsborough County (zip code 33611), this center boasts a prime location directly across from a Publix, Super Target, and Starbucks, with a Wawa nearby. The property is currently 100% occupied with multiple tenants across four suites, generating a gross annual income of $250,000. The building's design allows for direct access, a significant advantage facilitated by Hillsborough County approved plans. Multiple access points currently exist, enhancing convenience and visibility. This highly desirable location on Gandy Boulevard avoids the challenges of overpass sites, ensuring optimal accessibility for customers. Existing retention systems are in place. The property's strong tenant occupancy and strategic location make it an attractive investment for those seeking a stable, high-return retail asset in a thriving Tampa market. This is a rare opportunity to acquire a well-established, income-producing retail center in a high-traffic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,875,000
      6.5%
      $2,650,000
      7%
      $2,460,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,280,000
      Current use
      MEDICAL BUILDING
      $3,405,000
      Change: +4% Conversion: Difficult
      RETAIL STORES
      $2,800,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.504
    Latitude
    27.8931
    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
    $37,984
    $2,080,260
    $145,840
    $2,226,100
    -
    $2,080,260
    $145,840
    $2,226,100

    Comparable in this City

    • Value Estimation
      $1,650,000
      12,608 SF

      4015 Shr Blvd

      SHOPPING CENTER, STRIP CENTER • 12,608 SF
      4015 Shr Blvd, Tampa, FL 33611-1029
      View Details
    • Value Estimation
      $1,345,000
      8,764 SF

      5801 Dl Mabry Hwy

      SHOPPING CENTER, STRIP CENTER • 8,764 SF
      5801 Dl Mabry Hwy, Tampa, FL 33611-4231
      View Details
    • Value Estimation
      $935,000
      6,584 SF

      5220 Dl Mabry Hwy

      SHOPPING CENTER, STRIP CENTER • 6,584 SF
      5220 Dl Mabry Hwy, Tampa, FL 33611-3508
      View Details
    • Value Estimation
      $3,750,000
      17,189 SF

      4005 Gandy Blvd

      SHOPPING CENTER, STRIP CENTER • 17,189 SF
      4005 Gandy Blvd, Tampa, FL 33611-3409
      View Details
    • Value Estimation
      $1,035,000
      9,478 SF

      6241 Dl Mabry Hwy

      SHOPPING CENTER, STRIP CENTER • 9,478 SF
      6241 Dl Mabry Hwy, Tampa, FL 33611-4800
      View Details
    • Value Estimation
      $5,400,000
      23,060 SF

      4320 Manhattan Ave

      SHOPPING CENTER, STRIP CENTER • 23,060 SF
      4320 Manhattan Ave, Tampa, FL 33611-1304
      View Details

    Similar Nearby for Sale

    • New
      $1,790,000
      7,044 SF

      Tampa Commercial Property on Dale Mabry

      Prime commercial property near MacDill AFB with multiple development possibilities.
      6409 S Dale Mabry Hwy, Tampa, FL 33611
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    • $850,000
      7,426 SF

      Retail/Flex Building on High Traffic

      Freestanding retail/flex building with redevelopment potential on high traffic corridor.
      4542 W Gandy Blvd, Tampa, FL 33611
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    • Contact for pricing
      3,080 SF

      Former Convenience Store South Tampa

      Former convenience store with high visibility in South Tampa.
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    • $6,392,567
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      Tampa Walgreens Retail Opportunity

      Freestanding 14,164 SF retail building on 1.58 acres.
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    • $1,725,000
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      Maddox Plaza: Tampa Storefront

      High-traffic retail investment opportunity.
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    • $7,000,000
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      Gandy Blvd Retail Center - Tampa, FL

      High-Yield Retail Investment Opportunity
      3642 Gandy Blvd, Tampa, FL 33611
      View Details

    Similar Nearby for Lease

    • 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
    • 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
      6,000 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
      12,000 SF

      Gandy Blvd Retail Center - Tampa, FL

      High-Yield Retail Investment Opportunity
      3642 Gandy Blvd, Tampa, FL 33611
      View Details
    • $18 SF/Yr
      Pending

      Gandy Boulevard Retail/Office Space

      Retail or office space available in Tampa, FL.
      4811 W Gandy Blvd, Tampa, FL 33611
      View Details
    • Contact for pricing
      16,800 SF

      Gandy Blvd Retail Center Investment

      Prime Tampa retail center, high visibility.
      4005 Gandy Blvd, Tampa, FL 33611
      View Details
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    Tampa, FL 33611
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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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