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

    508 Fletcher Ave Tampa, FL 33612-3413

    • Office buildings
    • 9,920 SF
    • 1.34 lot acres
    OFF-MARKET
    Last Sale
    Aug 09, 2023
    $1,500,000
    Value Estimations
    $1,685,000
    Show details
    Cap Rate Potential
    9.5%
    Office buildings
    Location Intelligence
    Property ID
    US18-5903605
    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

    • Clean Recovery Centers / Addiction Treatment Center / Alcoholism Treatment Program
    • Insight Behavioral Health / Addiction Treatment Center
    • Kari Mackneer / Counselor

    Property Details for 508 Fletcher Ave

    Year built
    2009
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.34 lot acres
    Property size
    9,920 SF
    Zone code
    PD
    Property type
    Office buildings
    APN
    U1228180TD000004000015
    APU
    U1228180TD000004000015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,365,000
      ML approach
      $1,440,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,155,000
      6.5%
      $1,990,000
      7%
      $1,850,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,043,000
      Market price range: $1.57M - $2.90M
      AI Estimate
      $1,381,000
      Market price range: $784k - $2.06M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,095,000
      Current use
      RETAIL STORES
      $2,205,000
      Change: +5% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,915,000
      Change: -9% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,890,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4642
    Latitude
    28.068
    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
    $25,203
    $640,166
    $787,034
    $1,427,200
    -
    $640,166
    $787,034
    $1,427,200

    Comparable in this City

    • Value Estimation
      $680,000
      22,083 SF

      11305 Mckinley Dr

      OFFICE BUILDING • 22,083 SF
      11305 Mckinley Dr, Tampa, FL 33612-6412
      View Details
    • Value Estimation
      $225,000
      896 SF

      105 130th Ave

      OFFICE BUILDING • 896 SF
      105 130th Ave, Tampa, FL 33612-4217
      View Details
    • Value Estimation
      $645,000
      17,530 SF

      311 Fletcher Ave

      OFFICE BUILDING • 17,530 SF
      311 Fletcher Ave, Tampa, FL 33612-3414
      View Details
    • Value Estimation
      $1,355,000
      49,929 SF

      10421 University Ctr Dr

      OFFICE BUILDING • 49,929 SF
      10421 University Ctr Dr, Tampa, FL 33612-6422
      View Details
    • Value Estimation
      $465,000
      4,310 SF

      11028 Florida Ave

      OFFICE BUILDING • 4,310 SF
      11028 Florida Ave, Tampa, FL 33612-6636
      View Details
    • Value Estimation
      $300,000
      3,650 SF

      1302 Busch Blvd

      OFFICE BUILDING • 3,650 SF
      1302 Busch Blvd, Tampa, FL 33612-7710
      View Details

    Similar Nearby for Sale

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      5,220 SF

      Commercial Office Building For Sale

      Single-story commercial office building with ample parking and signage.
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    • $775,000
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      Tampa Office with Flexible Layout

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      Tampa Office Investment Opportunity

      High-visibility commercial property in Tampa's North Nebraska corridor.
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    • $1,900,000

      Busch Blvd Commercial Building

      Tampa Restaurant/Office Opportunity
      2250 Busch Blvd, Tampa, FL 33612
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    • $5,000,000
      2.62 Acres

      Tampa Commercial Redevelopment Opportunity

      High-traffic location, 2.62 acres, development potential.
      751 Nebraska Ave, Tampa, FL 33612
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    • $1,599,900

      Prime Land Near Busch Gardens

      1.54 acre commercial land with high traffic visibility.
      2401 E Busch Blvd, Tampa, FL 33612
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    Similar Nearby for Lease

    • $30 SF/Yr
      25,000 SF

      Tampa Office Building For Lease

      Three-story, 75,000 SF office building in Northwest Tampa.
      10050 N Florida Ave, Tampa, FL 33612
      View Details
    • $46,800

      High-Visibility Commercial Space Available

      Adaptable commercial space with high visibility and accessibility.
      1010 E Busch Blvd, Tampa, FL 33612
      View Details
    • $10,011 /Mo
      4,792 SF

      High-Exposure Commercial Building Near Busch Gardens

      Two-story commercial building with high visibility and flexible configuration.
      3601 E Busch Blvd, Tampa, FL 33612
      View Details
    • $62,500

      Versatile Commercial Space Available

      2,500 SF suite suitable for office or retail use.
      2313 W Linebaugh Ave, Tampa, FL 33612
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available for rent at 10050 North Florida Avenue.
      10050 North Florida Ave, Tampa, FL 33612
      View Details
    • $26 SF/Yr
      18,000 SF

      Class A Medical Office Buildings

      New Class A medical office buildings in a growing market.
      3345 W Fletcher Ave, Tampa, FL 33612
      View Details
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    508 Fletcher Ave
    Tampa, FL 33612-3413
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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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