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    5901 Memorial Hwy Tampa, FL 33615-5044
    Property profile & analytics

    5901 Memorial Hwy, Tampa, FL 33615-5044

    View on Map
    • Grocery and convenience stores
    • 2,460 SF
    • 0.48 lot acres
    Off-Market
    Last Sale Oct 6, 2022
    $740,000
    Property ID
    US18-2456259
    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.
    Value Estimations
    $745,000
    Show details
    Cap Rate Potential
    4.8%
    Grocery and convenience stores
    Location Intelligence

    Current Use by Public Records

    • Exxon / Gas Station
    • Normandy Mobil / Gas Station
    • Circle K / Grocery & Convenience Store
    • Sunshine Mobile Car Wash & Detailing LLC / Car Wash
    • Bitstop Bitcoin ATM / Crypto Atm / Atm

    Property Details for 5901 Memorial Hwy

    Year built
    1976
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.48 lot acres
    Zone code
    CG
    Property type
    Grocery and convenience stores
    APN
    U0229170FF000000000152
    APU
    U0229170FF000000000152

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 6, 2022 — James E Mackey James E Mackey Intrafamily Transfer · related —
    Jan 25, 2017 $740,000 James Mackey Seven Stores Ltd Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $755,000
      ML approach
      $740,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $600,000
      6.5%
      $555,000
      7%
      $515,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $813,000
      Market price range: $298k - $1.98M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $640,000
      Current use
      OFFICE BUILDING
      $870,000
      Change: +36% Conversion: Moderate
      MEDICAL BUILDING
      $665,000
      Change: +4% Conversion: Difficult
      RETAIL STORES
      $545,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.5698
    Latitude
    27.9855
    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
    $8,173
    $262,500
    $229,155
    $491,655
    -
    $262,500
    $229,155
    $491,655

    Comparable in this City

    • Value Estimation
      $1,095,000
      6,877 SF

      7534 Hillsborough Ave

      CONVENIENCE STORE
      7534 Hillsborough Ave, Tampa, FL 33615
      View Details
    • Value Estimation
      $680,000
      4,120 SF

      6908 Sheldon Rd

      CONVENIENCE STORE
      6908 Sheldon Rd, Tampa, FL 33615-2701
      View Details
    • Value Estimation by Request
      2,360 SF

      8749 Waters Ave

      CONVENIENCE STORE
      8749 Waters Ave, Tampa, FL 33615-1729
      View Details
    • Value Estimation
      $6,035,000
      44,172 SF

      6216 Elliot Dr

      GROCERY, SUPERMARKET
      6216 Elliot Dr, Tampa, FL 33615-2650
      View Details
    • Value Estimation
      $6,895,000
      64,031 SF

      8701 Hillsborough Ave

      GROCERY, SUPERMARKET
      8701 Hillsborough Ave, Tampa, FL 33615-3704
      View Details
    • Value Estimation by Request
      2,196 SF

      10111 Hillsborough Ave

      CONVENIENCE STORE
      10111 Hillsborough Ave, Tampa, FL 33615-3017
      View Details

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    • Contact for pricing

      Established Oriental Market For Sale

      Thriving oriental market serving Tampa community for over 30 years.
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      9,183 SF

      Retail Storefront Business Opportunity

      6,200 SF retail storefront business for sale.
      8501-8637 Hillsborough Ave, Tampa, FL 33615
      View Details
    • $540,000

      Corner Lot Retail Opportunity

      Retail property with high traffic, fenced yard, and parking.
      8814 Rocky Creek Dr, Tampa, FL 33615
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      Commercial Land in Canal Shores

      Corner lot in Tampa, ideal for commercial uses.
      7511 Winchester Dr, Tampa, FL 33615
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    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Retail Space on Memorial Highway

      Retail spaces available with pylon signage on Memorial Highway.
      5915 Memorial Hwy, Tampa, FL 33615
      View Details
    • Contact for pricing
      1,290 SF

      Retail Space in Town & Country

      Retail space in established Tampa neighborhood with high visibility.
      8412-8496 W Hillsborough Ave, Tampa, FL 33615
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space on Hillsborough Avenue

      Junior anchor space available in Tampa's retail corridor.
      10005-10075 W Hillsborough Ave, Tampa, FL 33615
      View Details
    • Contact for pricing

      Freestanding Building on Memorial Hwy

      18,843 SF building and 1.42 acre commercial pad available.
      6621 Memorial Hwy, Tampa, FL 33615
      View Details
    • Contact for pricing
      7,820 SF

      Tampa Medical Office Building For Lease

      7,820 SF Medical Office - Tampa, FL
      5901-5967 Webb Rd, Tampa, FL 33615
      View Details
    • Contact for pricing
      1,250 SF

      Office Space Available For Rent

      Office space available for rent at 6323 Memorial Hwy.
      6323 Memorial Hwy, Tampa, FL 33615
      View Details

    Property Visit Statistics

    • Visits by month
      7.7k
    • Visitors by month
      4.4k
    • Avg Time on site
      9 min
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    Tampa, FL 33615-5044
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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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