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

    4006 Hillsborough Ave Tampa, FL 33610-3848

    • Office buildings
    • 1,803 SF
    • 0.72 lot acres
    OFF-MARKET
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    7.3%
    Office buildings
    Location Intelligence
    Property ID
    US18-3085941
    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

    • Applebee's Grill + Bar / Traditional American Restaurant / Bar & Grill

    Property Details for 4006 Hillsborough Ave

    Year built
    1962
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.72 lot acres
    Property size
    1,803 SF
    Zone code
    PD
    Property type
    Office buildings
    APN
    A33281948M000000000190
    APU
    A33281948M000000000190

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $375,000
      6.5%
      $350,000
      7%
      $325,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $507,000
      Market price range: $134k - $507k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $560,000
      Current use
      MEDICAL BUILDING
      $485,000
      Change: -13% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $470,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4134
    Latitude
    27.9965
    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
    $11,036
    $236,392
    $654,979
    $891,371
    -
    $236,392
    $654,979
    $891,371

    Comparable in this City

    • Value Estimation
      $4,250,000
      19,048 SF

      5804 Breckenridge Pkwy

      OFFICE BUILDING • 19,048 SF
      5804 Breckenridge Pkwy, Tampa, FL 33610-4245
      View Details
    • Value Estimation by Request
      1,480 SF

      8913 Dr Martin Luther King Jr Blvd

      OFFICE BUILDING • 1,480 SF
      8913 Dr Martin Luther King Jr Blvd, Tampa, FL 33610-7309
      View Details
    • Value Estimation
      $37,760,000
      156,518 SF

      10430 Highland Mnr Dr

      OFFICE BUILDING (MULTI-STORY) • 156,518 SF
      10430 Highland Mnr Dr, Tampa, FL 33610-9128
      View Details
    • Value Estimation
      $1,465,000
      5,421 SF

      6302 Hillsborough Ave

      OFFICE BUILDING • 5,421 SF
      6302 Hillsborough Ave, Tampa, FL 33610-4102
      View Details
    • Value Estimation
      $22,110,000
      142,589 SF

      10117 Princess Palm Ave

      OFFICE BUILDING (MULTI-STORY) • 142,589 SF
      10117 Princess Palm Ave, Tampa, FL 33610-8302
      View Details
    • Value Estimation by Request
      1,656 SF

      2501 Diana St

      OFFICE BUILDING • 1,656 SF
      2501 Diana St, Tampa, FL 33610-1323
      View Details

    Similar Nearby for Sale

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      Versatile Office/Industrial Building For Sale

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      Spacious Tampa Office Building on Acreage

      79,728 SF office building on 5.22 acres near I-4/I-75.
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    • $825,000

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      High-visibility commercial property with dual entrances near downtown and I-75.
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    • $7,499,000
      40,780 SF

      Tampa Office Building - I-4 Access

      Prime Tampa Office & Warehouse, 40,780 SF
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    • $1,350,000
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      Turn-Key Auto Repair Shop Business

      High-traffic Tampa Bay area commercial property with multiple income streams.
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    Similar Nearby for Lease

    • $28 SF/Yr
      4,084 SF

      Class A Office Park Space

      Class A office space for rent in Tampa, Florida.
      10210 Highland Manor Dr, Tampa, FL 33610
      View Details
    • $12 SF/Yr
      57,918 SF

      Breckenridge Park: Office & Flex Space

      Versatile Office/Warehouse/Flex Space Available
      5802 Breckenridge Pkwy, 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
    • $27 SF/Yr
      26,995 SF

      Tampa Office Space For Rent

      26,995 square foot office space available for lease.
      10117 Princess Palm Ave, Tampa, FL 33610
      View Details
    • $11 SF/Yr
      1,436 SF

      Tampa Flex Space Available

      Flex space in Interstate Business Park, Tampa, Florida.
      8402 Laurel Fair Cir, Tampa, FL 33610
      View Details
    • $28 SF/Yr
      3,706 SF

      Class A Office Park Space

      Class A office space for rent in Tampa, Florida.
      4042 Park Oaks Blvd, Tampa, FL 33610
      View Details
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    4006 Hillsborough Ave
    Tampa, FL 33610-3848
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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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