Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5524 Cypress St Tampa, FL 33607-3839

    • Office buildings
    • 54,328 SF
    • 5.99 lot acres
    OFF-MARKET
    Value Estimations
    $8,970,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3767962
    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

    • La bella florida / Condominium Complex
    • Dept of Homeland Security I.C.E. / Federal Government Office
    • 💵 Online Payday Loans Tampa ⭐⭐⭐⭐⭐ / Loan Agency / Check Cashing Service
    • USCIS / Association / Organization
    • Cypress Insurance Ltd / Insurance Agency

    Property Details for 5524 Cypress St

    Year built
    1998
    Construction
    WOOD
    Lot size
    5.99 lot acres
    Property size
    54,328 SF
    Zone code
    M-AP-2
    Property type
    Office buildings
    APN
    A192918ZZZ000005492900
    APU
    A192918ZZZ000005492900

    Description

    This exceptional investment opportunity presents a 26,078-square-foot Class B executive office building in Tampa's desirable Westshore Business District. Currently leased to the Department of Homeland Security until July 2027, with a one-year extension option, this property boasts a 6.8% cap rate, offering attractive immediate cash flow. The building features ample parking (10 spaces per 1,000 sq ft) and excellent visibility. Situated on a 5.99-acre lot, the property includes approximately 3 acres of vacant land, currently leased month-to-month for offsite airport parking, and offering significant redevelopment potential. Built in 1998 and zoned M-AP-2, the property provides a unique blend of immediate income and long-term upside. The office building and land parcels can be purchased separately ($8.45M and $3.45M respectively) or together for $11.9M. Convenient access to major highways and Tampa International Airport adds to its appeal. The property's location offers proximity to top shopping, dining, and entertainment venues. Retention is already in place on the vacant land. Further details are available in the Offering Memo.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $13,125,000
      6.5%
      $12,115,000
      7%
      $11,250,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,196,000
      Market price range: $9.20M - $14.8M
      AI Estimate
      $5,600,000
      Market price range: $1.88M - $12.1M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $12,015,000
      Current use
      MEDICAL BUILDING
      $14,685,000
      Change: +22% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $14,135,000
      Change: +18% Conversion: Difficult
      RETAIL STORES
      $12,060,000
      Change: +0% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $10,485,000
      Change: -13% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $10,350,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.5393
    Latitude
    27.9518
    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
    $138,975
    $3,728,911
    $3,198,389
    $6,927,300
    -
    $3,728,911
    $3,198,389
    $6,927,300

    Comparable in this City

    • Value Estimation
      $14,210,000
      77,091 SF

      3507 Frontage Rd

      OFFICE BUILDING (MULTI-STORY) • 77,091 SF
      3507 Frontage Rd, Tampa, FL 33607-1786
      View Details
    • Value Estimation
      $3,555,000
      16,112 SF

      4720 Cypress St

      OFFICE BUILDING • 16,112 SF
      4720 Cypress St, Tampa, FL 33607-3848
      View Details
    • Value Estimation
      $2,265,000
      11,385 SF

      5012 Cypress St

      OFFICE BUILDING • 11,385 SF
      5012 Cypress St, Tampa, FL 33607-3804
      View Details
    • Value Estimation
      $4,370,000
      36,210 SF

      1400 Blvd Boulevard

      OFFICE BUILDING (MULTI-STORY) • 36,210 SF
      1400 Blvd Boulevard, Tampa, FL 33607-5608
      View Details
    • Value Estimation
      $42,585,000
      196,072 SF

      1511 Shr Blvd

      OFFICE BUILDING (MULTI-STORY) • 196,072 SF
      1511 Shr Blvd, Tampa, FL 33607-4543
      View Details
    • Value Estimation
      $1,520,000
      6,345 SF

      4148 Armenia Ave

      OFFICE BUILDING • 6,345 SF
      4148 Armenia Ave, Tampa, FL 33607-6422
      View Details

    Similar Nearby for Sale

    • $15,000,000
      32,140 SF

      Tampa Office Building For Sale

      Four-story office building in Tampa with on-site parking.
      1403 N Howard Ave, Tampa, FL 33607
      View Details
    • Contact for pricing
      8,192 SF

      Tampa Westshore Office Building

      Office building in Tampa's desirable Westshore district.
      5041 W Cypress St, Tampa, FL 33607
      View Details
    • $4,500,000
      17,082 SF

      Westshore Office Building Complex

      Two-building complex in Westshore business district, close to amenities.
      4919 West Laurel St, Tampa, FL 33607
      View Details
    • Contact for pricing
      64,300 SF

      Tampa Office Complex For Sale

      64,300 SF office complex in Tampa's Westshore Business District.
      4144 N Armenia Ave, Tampa, FL 33607
      View Details
    • $5,000,000
      20,850 SF

      Westshore Business District Office Building

      Renovated office building in Westshore Business District for sale.
      4913 W Laurel St, Tampa, FL 33607
      View Details
    • Contact for pricing
      57,413 SF

      Tampa Office Building For Sale

      Office building in Tampa's premier live, work, play environment.
      4600 W Cypress St, Tampa, FL 33607
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      35,511 SF

      Tampa Office Space For Rent

      Office space available near Tampa International Airport and major expressways.
      5830 West Cypress St, Tampa, FL 33607
      View Details
    • $32 SF/Yr

      Class A Office Building

      Four-story Class A office building in Westshore with covered parking.
      3001 North Rocky Point Dr East, Tampa, FL 33607
      View Details
    • $25 SF/Yr
      1,372 SF

      West Tampa Prime Office Space

      1,372 SF office space for lease in West Tampa.
      2009 N Armenia Ave, Tampa, FL 33607
      View Details
    • Contact for pricing
      10,968 SF

      Tampa Bay Park Office Space

      Two-story office building in Tampa's Westshore business district.
      3407 W Dr Martin Luther King Jr Blvd, Tampa, FL 33607
      View Details
    • Contact for pricing
      20,669 SF

      Premium Office Space Near Airport

      Modern office space with airport access and extensive amenities.
      4221 W Boy Scout Blvd, Tampa, FL 33607
      View Details
    • $24 SF/Yr
      1,406 SF

      Four-Story Office Building For Rent

      29,276 SF office building with recent renovations.
      4023 N Armenia Ave, Tampa, FL 33607
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5524 Cypress St
    Tampa, FL 33607-3839
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.