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Property profile & analytics
FOR LEASE
Office buildings
400 North Ashley Dr, Tampa, FL 33602
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US18-0305653
For Lease
1 / 11
$11,020,000
400 North Ashley Dr, Tampa, FL 33602
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
37,188 SF
Lot
3.96 ac (172,664 SF)
Zoning code
CBD-2
APN
A2429184ZI000062000A10
UPID
US18-0305653
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
SYKES Enterprises, Incorporated Bpo Company Internet Marketing Service
-
Legal Evidence Corp IT Consulting Firm Tech Support Center
-
Frost Law Law Firm
-
Frost Family Law, P.A. Law Firm Child Welfare Organization
-
Levin Charles J Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.30M
Comparable Approach
Comparable
$13.53M
Blend (final)
Blend
$11.02M
Owner & transaction history
Rivergate Tower Owner LLC · 10 yrs held
Rivergate Tower Owner LLC
since 2015
7 recorded transactions
Zoning & alternative use
CBD-2 · Tampa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.9M
+22.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tampa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tampa submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,985,000
6.5%
$8,295,000
7%
$7,700,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$14,655,000
Current use
RESTAURANT
$17,930,000
Change: +22% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$13,640,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$11.02M
Range $9.92M – $12.12M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$296 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,901,897
Tax year 2023
Assessed value
$92,279,900
Assessed 2023
Previous assessed
$87,776,400
+5.1% YoY
Effective rate
2.06%
On assessed value
Assessed land
$19,870,933
Assessed improvement
$72,408,967
Land market value
$19,870,933
Improvement market value
$72,408,967
Total market value
$92,279,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
6
Units
20
Rooms
121
Total area
37,188 SF
Lot
3.96 ac (172,664 SF)
Zoning code
CBD-2
APN
A2429184ZI000062000A10
UPID
US18-0305653
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
CBD-2 · Tampa, FL
Zoning CBD-2 · permitted uses
CBD-2 · Tampa, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tampa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$14.7M
RESTAURANT
Est. value
$17.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.6M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
6
Buildings
3
Units
20
Rooms
121
Lot
3.96 ac
Current owner
From public records · entity-resolved
Rivergate Tower Owner LLC
Entity
Mailing address
80 SW 8TH ST STE #2200, MIAMI, FL 33130-3004
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2015
$70,000,000
Rivergate Tower Owner LLC
Ir-rivergate LLC
Grant Deed
$58,000,000 · Bankunited Fsb
Dec 10, 2014
$59,587,453
Ir Rivergate LLC
Rivergate Building Owner LLC
Special Warranty Deed
—
Apr 24, 2012
—
Rivergate Building Owner LLC
—
Deed Of Trust
related
$17,000,000 · Starwood Prop Mtg Sub-2-a LLC
Jun 28, 2011
$22,000,000
Rivergate Building Owner LLC
Rivergate Acquisition Company LLC
Special Warranty Deed
—
Jun 27, 2011
—
Rivergate Building Owner LLC
Rivergate Acquisition Co LLC
Quit Claim Deed
related
—
Mar 21, 2011
—
Rivergate Acquisition Co LLC
Acp Of Pinnacle LLC Coc
Trustees Deed
related
—
Mar 14, 2011
$347,000
Royal Bk Of Scotland Plc
Acp Of Pinnacle LLC Coc
Trustees Deed
related
—
Feb 9, 2005
$35,500,000
Acp/pinnacle LLC
Colonnade Ashley LLC
Special Warranty Deed
$40,000,000 · Merrill Lynch Capital
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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