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Property profile & analytics
OFF-MARKET
Estimated value
$5,470,000
Strip malls
5321 Fowler Ave Tampa, FL 33617
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-4730531
Property summary
AI-generated overview
Terrace Ridge, a Class A, single-story office building totaling 34,134 square feet, presents a unique investment opportunity in the desirable Temple Terrace submarket. Located at the southwest corner of 56th and Fowler, this property boasts excellent visibility and accessibility from three streets. Built in 1987, the building sits on 4.71 acres of land and offers abundant surface parking. Currently, 5,521 square feet of space is available for lease, divisible into three suites ranging from approximately 1,353 to 1,634 contiguous square feet. The property is zoned CG and features a total of three suites. The building benefits from its strategic location near the University of South Florida and is anchored by a Carrabba's Italian Grill, adjacent to a recently redeveloped public space. This prime location offers high traffic counts and strong visibility, making it ideal for a variety of businesses. The landlord plans to divide the available space into three units, with approximate sizes of 1,353, 1,577, and 1,634 square feet, all anticipated to be available in the second quarter of 2024. The property's APN is 200659.0000.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
39,604 SF
Lot
4.71 ac (205,311 SF)
Zoning code
CG
APN
T15281954V000009B00000
UPID
US18-4730531
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.47M
Owner & transaction history
TERRACE RIDGE INC
TERRACE RIDGE INC
Zoning & alternative use
CG · Tampa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$8,795,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$5.47M
Range $4.92M – $6.02M · ±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
$138 / 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
$87,280
Tax year 2023
Assessed value
$4,621,300
Assessed 2023
Previous assessed
$4,621,300
+0.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$2,707,292
Assessed improvement
$1,914,008
Land market value
$2,707,292
Improvement market value
$1,914,008
Total market value
$4,621,300
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
15
Rooms
15
Total area
39,604 SF
Lot
4.71 ac (205,311 SF)
Zoning code
CG
APN
T15281954V000009B00000
UPID
US18-4730531
Jurisdiction
HILLSBOROUGH
Zoning & alternative use
CG · Tampa, FL
Zoning CG · permitted uses
CG · 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
RETAIL STORES
Est. value
$8.8M
RETAIL STORES
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
15
Rooms
15
Lot
4.71 ac
Current owner
From public records · entity-resolved
TERRACE RIDGE INC
Entity
Free & Clear · 0 yrs held
Mailing address
8405 N EDISON AVE, TAMPA, FL 33604-1210
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
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