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

    515 Bay St Tampa, FL 33606-2766

    • Office buildings
    • 6,226 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $1,315,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0823926
    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

    • The Tenret Company / Consultant
    • Frank Jackson at NFM Lending / Loan Service / Bank
    • Alice Boullosa, LMFT, LLC / Psychotherapist
    • Schmitt Richard L / Architect
    • Westbay CPAs / Accounting Firm

    Property Details for 515 Bay St

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.29 lot acres
    Property size
    6,226 SF
    Zone code
    RO-1
    Property type
    Office buildings
    APN
    A2429184ZX000016000011
    APU
    A2429184ZX000016000011

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,505,000
      6.5%
      $1,390,000
      7%
      $1,290,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,016,000
      Market price range: $584k - $1.74M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4651
    Latitude
    27.9384
    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
    $25,214
    $680,475
    $673,525
    $1,354,000
    -
    $680,475
    $673,525
    $1,354,000

    Comparable in this City

    • Value Estimation
      $4,795,000
      26,486 SF

      600 Magnolia Ave

      OFFICE BUILDING • 26,486 SF
      600 Magnolia Ave, Tampa, FL 33606-2746
      View Details
    • Value Estimation
      $3,875,000
      17,777 SF

      1810 Kennedy Blvd

      OFFICE BUILDING • 17,777 SF
      1810 Kennedy Blvd, Tampa, FL 33606-1645
      View Details
    • Value Estimation
      $780,000
      2,650 SF

      209 Packwood Ave

      OFFICE BUILDING • 2,650 SF
      209 Packwood Ave, Tampa, FL 33606-1827
      View Details
    • Value Estimation
      $1,970,000
      10,779 SF

      1200 Platt St

      OFFICE BUILDING • 10,779 SF
      1200 Platt St, Tampa, FL 33606-2136
      View Details
    • Value Estimation
      $930,000
      4,391 SF

      1315 Howard Ave

      OFFICE BUILDING • 4,391 SF
      1315 Howard Ave, Tampa, FL 33606-3193
      View Details
    • Value Estimation
      $1,410,000
      5,949 SF

      307 Hyde Park Ave

      OFFICE BUILDING • 5,949 SF
      307 Hyde Park Ave, Tampa, FL 33606-2233
      View Details

    Similar Nearby for Sale

    • $6,100,000
      20,330 SF

      Tampa Office Building For Sale

      Office building with leasing success and growth potential.
      600 S Magnolia Ave, Tampa, FL 33606
      View Details
    • $1,695,000
      2,120 SF

      Historic Hyde Park Office Building

      Restored historic office building in Tampa's Hyde Park neighborhood.
      2111 W Cleveland St, Tampa, FL 33606
      View Details
    • $1,450,000
      2,142 SF

      Renovated Office Building in Tampa

      Turn-key office building in Hyde Park/SoHo with ample parking.
      119 S Dakota Ave, Tampa, FL 33606
      View Details
    • $1,289,000
      2,298 SF

      South Tampa Professional Office Building

      Single-story office building in vibrant South Tampa/Hyde Park market.
      114 S Fremont Ave, Tampa, FL 33606
      View Details
    • $4,950,000
      9,680 SF

      Tampa Office with Expansion Capacity

      South Tampa office building with high visibility and Class A finishes.
      2011 W Cleveland St, Tampa, FL 33606
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    • $1,049,000
      1,601 SF

      South Tampa Commercial Property

      Prime Office Building, Investment Opportunity
      304 Westland Ave, Tampa, FL 33606
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      2,400 SF

      South Tampa Office Space Available

      Office building in South Tampa with ample parking for rent.
      2011 W Platt St, Tampa, FL 33606
      View Details
    • $15 SF/Yr
      5,342 SF

      Professional Office Building For Rent

      Class A office building with 5342 square feet available.
      1102 W Cass St, Tampa, FL 33606
      View Details
    • $13,500 /Mo
      2,120 SF

      Historic Hyde Park Office Building

      Restored historic office building in Tampa's Hyde Park neighborhood.
      2111 W Cleveland St, Tampa, FL 33606
      View Details
    • $52 SF/Yr
      22,455 SF

      Tampa Retail/Office Space For Rent

      High-visibility retail/office space near University of Tampa and Downtown.
      830 W Kennedy Blvd, Tampa, FL 33606
      View Details
    • $1,150 /Mo
      3,045 SF

      Professional Office Space in Tampa

      Tastefully decorated office space in the heart of South Tampa.
      1550 W Cleveland St, Tampa, FL 33606
      View Details
    • Contact for pricing
      1,654 SF

      South Tampa Office Space Available

      Charming freestanding office, 1654 sq ft.
      404 Howard Ave, Tampa, FL 33606
      View Details
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    515 Bay St
    Tampa, FL 33606-2766
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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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