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

    5803 56th St Tampa, FL 33610-4836

    • Office buildings
    • 2,828 SF
    • 0.89 lot acres
    OFF-MARKET
    Last Sale
    Nov 04, 2022
    $740,000
    Value Estimations
    $740,000
    Show details
    Cap Rate Potential
    4.8%
    Office buildings
    Location Intelligence
    Property ID
    US18-0439001
    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

    • Special Cars / Car Dealership
    • Car choice / Car Dealership

    Property Details for 5803 56th St

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.89 lot acres
    Property size
    2,828 SF
    Zone code
    CI
    Property type
    Office buildings
    APN
    U3428191M5000000000110
    APU
    U3428191M5000000000110

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $745,000
      ML approach
      $735,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $590,000
      6.5%
      $545,000
      7%
      $505,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $738,000
      Market price range: $479k - $1.37M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $880,000
      Current use
      MEDICAL BUILDING
      $765,000
      Change: -13% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $735,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.393
    Latitude
    28.0011
    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
    $11,428
    $243,526
    $377,301
    $620,827
    -
    $243,526
    $377,301
    $620,827

    Comparable in this City

    • Value Estimation
      $4,250,000
      19,048 SF

      5804 Breckenridge Pkwy

      OFFICE BUILDING • 19,048 SF
      5804 Breckenridge Pkwy, Tampa, FL 33610-4245
      View Details
    • Value Estimation by Request
      1,480 SF

      8913 Dr Martin Luther King Jr Blvd

      OFFICE BUILDING • 1,480 SF
      8913 Dr Martin Luther King Jr Blvd, Tampa, FL 33610-7309
      View Details
    • Value Estimation
      $37,760,000
      156,518 SF

      10430 Highland Mnr Dr

      OFFICE BUILDING (MULTI-STORY) • 156,518 SF
      10430 Highland Mnr Dr, Tampa, FL 33610-9128
      View Details
    • Value Estimation
      $1,465,000
      5,421 SF

      6302 Hillsborough Ave

      OFFICE BUILDING • 5,421 SF
      6302 Hillsborough Ave, Tampa, FL 33610-4102
      View Details
    • Value Estimation
      $22,110,000
      142,589 SF

      10117 Princess Palm Ave

      OFFICE BUILDING (MULTI-STORY) • 142,589 SF
      10117 Princess Palm Ave, Tampa, FL 33610-8302
      View Details
    • Value Estimation by Request
      1,656 SF

      2501 Diana St

      OFFICE BUILDING • 1,656 SF
      2501 Diana St, Tampa, FL 33610-1323
      View Details

    Similar Nearby for Sale

    • $11,500,000
      79,728 SF

      Spacious Tampa Office Building on Acreage

      79,728 SF office building on 5.22 acres near I-4/I-75.
      6801 E Hillsborough Ave, Tampa, FL 33610
      View Details
    • $1,500,000

      Versatile Office/Industrial Building For Sale

      Single-story office building with manufacturing zoning and recent upgrades.
      5421 N 59Th St, Tampa, FL 33610
      View Details
    • $7,499,000
      40,780 SF

      Tampa Office Building - I-4 Access

      Prime Tampa Office & Warehouse, 40,780 SF
      5908 Breckenridge Pkwy, Tampa, FL 33610
      View Details
    • $1,350,000
      3,936 SF

      Turn-Key Auto Repair Shop Business

      High-traffic Tampa Bay area commercial property with multiple income streams.
      9701 E 92 Hwy, Tampa, FL 33610
      View Details
    • $580,000

      Prime Commercial Property in Tampa

      Commercial property with expansion potential in vibrant Tampa location.
      4106 N 22Nd St N, Tampa, FL 33610
      View Details
    • $825,000

      Commercial Property Near Downtown & I-75

      High-visibility commercial property with dual entrances near downtown and I-75.
      2610 E Dr Martin Luther King Jr Blvd, Tampa, FL 33610
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      4,084 SF

      Class A Office Park Space

      Class A office space for rent in Tampa, Florida.
      10210 Highland Manor Dr, Tampa, FL 33610
      View Details
    • $14 SF/Yr
      4,242 SF

      Eastlake Centre: Tampa Flex Space

      Prime Tampa flex space, high visibility, ample parking.
      6201 Hillsborough Ave, Tampa, FL 33610
      View Details
    • $7 SF/Yr
      11,959 SF

      Versatile Flex Space Available

      Industrial, office, warehouse, and flex space for lease.
      8416 Laurel Fair Cir, Tampa, FL 33610
      View Details
    • $28 SF/Yr
      20,460 SF

      Class A Office Park Space

      Class A office park with ample parking and various amenities.
      10150 Highland Manor Dr, Tampa, FL 33610
      View Details
    • Contact for pricing
      1,381 SF

      Office Space Near Upscale Areas

      Office space with atrium lobby near dining and residential areas.
      5110 N 40Th St, Tampa, FL 33610
      View Details
    • $7 SF/Yr
      16,000 SF

      Versatile Flex Space Available

      16,000 SF flex space in Interstate Business Park.
      4515 Oak Fair Blvd, Tampa, FL 33610
      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.
    5803 56th St
    Tampa, FL 33610-4836
    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.