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

    602 Macdill Ave Tampa, FL 33609-4614

    • Medical offices
    • 4,832 SF
    • 0.65 lot acres
    OFF-MARKET
    Value Estimations
    $900,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1436372
    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

    • Retina Associates of Florida / Ophthalmologist
    • Dr. William S. Grizzard, MD / Ophthalmologist
    • Dr. Ivan J. Suner, MD / Ophthalmologist
    • Dr. Marc C. Peden, MD / Ophthalmologist / Doctor
    • Dr. Mark E. Hammer, MD / Ophthalmologist

    Property Details for 602 Macdill Ave

    Year built
    2002
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.65 lot acres
    Property size
    4,832 SF
    Zone code
    CG
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    A2229183MUK00000000030
    APU
    A2229183MUK00000000030

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,175,000
      6.5%
      $1,085,000
      7%
      $1,005,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $665,000
      Market price range: $293k - $898k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,305,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,255,000
      Change: -4% Conversion: Difficult
      RETAIL STORES
      $1,075,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4928
    Latitude
    27.9384
    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
    $31,527
    $1,419,368
    $172,832
    $1,592,200
    -
    $1,419,368
    $172,832
    $1,592,200

    Comparable in this City

    • Value Estimation
      $685,000
      4,737 SF

      3321 Kennedy Blvd

      MEDICAL BUILDING • 4,737 SF
      3321 Kennedy Blvd, Tampa, FL 33609-2903
      View Details
    • Value Estimation
      $3,805,000
      24,262 SF

      2829 De Leon St

      MEDICAL BUILDING • 24,262 SF
      2829 De Leon St, Tampa, FL 33609-4168
      View Details
    • Value Estimation by Request
      1,865 SF

      3617 Swann Ave

      MEDICAL BUILDING • 1,865 SF
      3617 Swann Ave, Tampa, FL 33609-4517
      View Details
    • Value Estimation by Request
      1,413 SF

      403 Habana Ave

      MEDICAL BUILDING • 1,413 SF
      403 Habana Ave, Tampa, FL 33609-4111
      View Details
    • Value Estimation
      $1,035,000
      4,745 SF

      4240 Kennedy Blvd

      MEDICAL BUILDING • 4,745 SF
      4240 Kennedy Blvd, Tampa, FL 33609-2231
      View Details
    • Value Estimation
      $1,130,000
      7,862 SF

      3600 Kennedy Blvd

      MEDICAL BUILDING • 7,862 SF
      3600 Kennedy Blvd, Tampa, FL 33609-2802
      View Details

    Similar Nearby for Sale

    • $2,200,000
      4,000 SF

      South Tampa Retail Building For Sale

      Freestanding retail building in South Tampa with three separate units.
      3226 W Kennedy Blvd, Tampa, FL 33609
      View Details
    • $2,200,000
      4,000 SF

      South Tampa Retail Building For Sale

      Freestanding retail building in South Tampa with high traffic.
      3226-3230 W Kennedy Blvd, Tampa, FL 33609
      View Details
    • $1,395,000
      1,913 SF

      South Tampa Freestanding Medical Building

      Renovated medical building in South Tampa with high traffic frontage.
      512 S Dale Mabry Hwy, Tampa, FL 33609
      View Details
    • $2,850,000
      2,358 SF

      Moody Ave & Cleveland St Office Portfolio

      Tampa Hyde Park Office Buildings, Owner/User Opportunity
      202 Moody Ave, Tampa, FL 33609
      View Details
    • $1,200,000
      2,030 SF

      South Tampa Commercial Property Opportunity

      Versatile two-unit commercial property in a desirable South Tampa location.
      3019 W Azeele St, Tampa, FL 33609
      View Details
    • $420,000
      1,284 SF

      Tampa Office Condo - $420K

      1,284 SF Executive Office Suite, South Tampa
      3333 Kennedy Blvd, Tampa, FL 33609
      View Details

    Similar Nearby for Lease

    • $39 SF/Yr
      9,552 SF

      South Tampa Medical Office Space

      Class A medical office space available for lease in Tampa.
      310 S Macdill Ave, Tampa, FL 33609
      View Details
    • $48 SF/Yr
      2,000 SF

      Medical Office Space Available

      Move-in ready medical office space on W. Kennedy Blvd.
      4045 W Kennedy Blvd, Tampa, FL 33609
      View Details
    • Contact for pricing
      4,000 SF

      South Tampa Medical Space Available

      4,000 SF Class A medical space for rent.
      624 S Macdill Ave, Tampa, FL 33609
      View Details
    • $27 SF/Yr
      1,162 SF

      South Tampa Turn-Key Office

      Fully furnished professional office space available March 1, 2025.
      502-504 N Armenia Ave, Tampa, FL 33609
      View Details
    • Contact for pricing
      1,800 SF

      Class A Office Space Available

      Waterfront Class A office space with Tampa Bay views.
      5550 Executive Dr, Tampa, FL 33609
      View Details
    • $31 SF/Yr
      5,927 SF

      Tampa Office Space For Rent

      Office space for rent with on-site amenities in Tampa.
      5310 Cypress Center Dr, Tampa, FL 33609
      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.
    602 Macdill Ave
    Tampa, FL 33609-4614
    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.