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    4504 Spruce St Tampa, FL 33607-5789

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    4504 Spruce St Tampa, FL 33607-5789

    View on Map
    • High-rise multifamily apartments
    • 318,476 SF
    Off-Market
    Property ID
    US18-7330607
    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
    $36,190,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • genesisconcrete / Construction Company / General Contractor
    • White Fox Studios | Tampa Web Design + SEO / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Lantower Westshore Apartments / Apartment Building / Apartment Complex
    • Luxus Web / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Kristofer Films, LLC / Photography Service / (Bike/Boat/Book/etc) Store

    Property Details for 4504 Spruce St

    Year built
    2013
    Construction
    WOOD
    Property size
    318,476 SF
    Zone code
    PD
    Property type
    High-rise multifamily apartments
    APN
    A1729183JT000020000010
    APU
    A1729183JT000020000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.521
    Latitude
    27.9592
    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
    $1,545,573
    $4,500,000
    $76,695,600
    $81,195,600
    -
    $4,500,000
    $76,695,600
    $81,195,600

    Comparable in this City

    • Value Estimation
      $32,105,000
      298,173 SF

      4310 Spruce St

      HIGH-RISE APARTMENTS • 298,173 SF
      4310 Spruce St, Tampa, FL 33607-4177
      View Details
    • Value Estimation
      $12,130,000
      137,203 SF

      1701 Lois Ave

      HIGH-RISE APARTMENTS • 137,203 SF
      1701 Lois Ave, Tampa, FL 33607-2352
      View Details
    • Value Estimation
      $10,820,000
      144,349 SF

      1345 Main St

      HIGH-RISE APARTMENTS • 144,349 SF
      1345 Main St, Tampa, FL 33607-4400
      View Details
    • Value Estimation
      $8,385,000
      83,207 SF

      7616 Courtney Campbell Cswy

      HIGH-RISE APARTMENTS • 83,207 SF
      7616 Courtney Campbell Cswy, Tampa, FL 33607-1417
      View Details
    • Value Estimation by Request
      437,036 SF

      3730 Midtown Dr

      HIGH-RISE APARTMENTS • 437,036 SF
      3730 Midtown Dr, Tampa, FL 33607-4812
      View Details
    • Value Estimation
      $5,860,000
      74,559 SF

      2946 Columbus Dr

      HIGH-RISE APARTMENTS • 74,559 SF
      2946 Columbus Dr, Tampa, FL 33607-2209
      View Details

    Similar Nearby for Sale

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      Tampa Mixed-Use Investment Opportunity

      Recently renovated mixed-use property near Midtown Tampa.
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    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Mixed-Use Property for Lease

      Class A office, residential, hotel space available for lease.
      1001 N Dale Mabry Hwy, Tampa, FL 33607
      View Details
    • $1,900 /Mo

      Tampa Duplex with Fenced Courtyard

      Two-bedroom duplex near Tampa Riverwalk and Armature Works.
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    • Contact for pricing

      Restaurant Space Near International Plaza

      Restaurant space available near International Plaza, estimated delivery Q4 2025.
      1515 N West Shore Blvd, Tampa, FL 33607
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      Office Space Available For Lease

      Office spaces for lease in Tampa, Florida.
      5660-5690 W Cypress St, Tampa, FL 33607
      View Details
    • Contact for pricing

      Tampa Land for Short-Term Lease

      Almost 1 acre of land available for short-term lease.
      2509 W St Isabel St, Tampa, FL 33607
      View Details
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    Tampa, FL 33607-5789
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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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