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    Property profile & analytics

    5330 Ehrlich Rd Tampa, FL 33624-6966

    • Strip malls
    • 27,104 SF
    • 7.24 lot acres
    OFF-MARKET
    Last Sale
    Nov 24, 2021
    Value Estimations
    $1,460,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0195885
    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

    • Village Shoe Repair & Alterations / Dry Cleaner / Shoe Repair Shop
    • Jolie nail & spa / Nail Salon
    • The Homeschool Hive, LLC / Educational Supply Store
    • Zamora Aesthetics / Facial Spa / Beauty Salon
    • Daniela Gentlemen's Salon / Barber Shop

    Property Details for 5330 Ehrlich Rd

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    7.24 lot acres
    Property size
    27,104 SF
    Zone code
    PD
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    U062818ZZZ000000806800
    APU
    U062818ZZZ000000806800

    Description

    West Village Commons, a 60,234 square foot shopping center in Tampa, Florida, presents a compelling investment opportunity. This 100% occupied, two-building property boasts 17 tenants, including Dollar Tree, USPS, and Little Caesars, and is shadow-anchored by a high-performing EoS Fitness center. The property sits on a 7.24-acre lot at the southwest corner of Ehrlich Road and W Village Drive, benefiting from high traffic counts and excellent visibility. Recent renovations (2004 & 2022) include new roofs (with 20-year warranties), paint, facade, and signage upgrades. The property features a desirable tenant mix catering to the affluent Carrollwood and Northdale neighborhoods, with a strong average household income within a one-mile radius ($124,829). The center's strong performance is reflected in its $1,230,611 NOI and a 7.00% cap rate. Ten of the seventeen tenants have no remaining options, presenting a significant opportunity for future rent increases. The property is zoned PD - Planned Development (Hillsborough County) and was built in 1985. This is a rare opportunity to acquire a stable, high-performing retail asset in a prime Tampa location with significant upside potential. The property offers easy access from major roadways with signalized intersections and median cuts providing convenient access for customers. The substantial daytime population within a 5-mile radius (189,668) further underscores the property's strong market position. This is a turnkey investment with a proven track record and significant potential for long-term growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,405,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,219,000
      Market price range: $942k - $2.22M

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.5404
    Latitude
    28.082
    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
    $135,314
    $2,882,605
    $5,717,495
    $8,600,100
    -
    $2,882,605
    $5,717,495
    $8,600,100

    Comparable in this City

    • Value Estimation
      $690,000
      18,951 SF

      3849 Northdale Blvd

      SHOPPING CENTER, STRIP CENTER • 18,951 SF
      3849 Northdale Blvd, Tampa, FL 33624-1861
      View Details
    • Value Estimation
      $325,000
      7,367 SF

      4013 Linebaugh Ave

      SHOPPING CENTER, STRIP CENTER • 7,367 SF
      4013 Linebaugh Ave, Tampa, FL 33624-5412
      View Details
    • Value Estimation
      $520,000
      14,413 SF

      4920 Newkirk Dr

      SHOPPING CENTER, STRIP CENTER • 14,413 SF
      4920 Newkirk Dr, Tampa, FL 33624-1080
      View Details
    • Value Estimation
      $1,115,000
      19,466 SF

      4802 Gunn Hwy

      SHOPPING CENTER, STRIP CENTER • 19,466 SF
      4802 Gunn Hwy, Tampa, FL 33624-6321
      View Details
    • Value Estimation
      $1,050,000
      44,390 SF

      5277 Ehrlich Rd

      SHOPPING CENTER, STRIP CENTER • 44,390 SF
      5277 Ehrlich Rd, Tampa, FL 33624-2042
      View Details
    • Value Estimation
      $490,000
      7,348 SF

      3879 Northdale Blvd

      SHOPPING CENTER, STRIP CENTER • 7,348 SF
      3879 Northdale Blvd, Tampa, FL 33624-1805
      View Details

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    Similar Nearby for Lease

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      1,000 SF

      Retail Space in Tampa, FL

      99,304 SF community center at Gunn Hwy. and Casey Rd.
      4507-4585 Gunn Hwy, Tampa, FL 33624
      View Details
    • Contact for pricing

      Carrollwood Retail Power Center

      Premier retail center in high-demand Carrollwood location.
      15240 N Dale Mabry Hwy, Tampa, FL 33624
      View Details
    • $20 SF/Yr
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      Town Centre Retail Space - Tampa, FL

      High-traffic retail center, prime Tampa location.
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      View Details
    • Contact for pricing
      1,051 SF

      Retail Space in Tampa Center

      Retail space available in established Tampa shopping center.
      3841 Northdale Blvd, Tampa, FL 33624
      View Details
    • $16,000,000
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      Retail Space in Tampa, FL

      Retail space available in West Village Commons shopping center.
      5320-5366 Ehrlich Rd, Tampa, FL 33624
      View Details
    • Contact for pricing
      16,120 SF

      Tampa Industrial Warehouse For Lease

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      View Details
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    Tampa, FL 33624-6966
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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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