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    Property profile & analytics

    615 Ware Blvd Tampa, FL 33619-4444

    • Office buildings
    • 38,471 SF
    • 5.00 lot acres
    OFF-MARKET
    Last Sale
    Jul 10, 2025
    Value Estimations
    $4,120,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5394147
    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

    • USHEALTH ADVISORS / Insurance Agency
    • Bailey Cotter- Licensed Health Advisor / Insurance Agency
    • Dora Zúñiga - Licensed Health Advisor / Insurance Agency
    • ReedTMS Logistics / Logistics Company / Freight Service
    • Micambre Enterprises / Insurance Agency

    Property Details for 615 Ware Blvd

    Year built
    1997
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.00 lot acres
    Property size
    38,471 SF
    Zone code
    CI
    Property type
    Office buildings
    APN
    U1929202DE000000A00000
    APU
    U1929202DE000000A00000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,071,000
      Market price range: $4.07M - $8.20M
      AI Estimate
      $2,704,000
      Market price range: $2.05M - $7.36M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,810,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.348
    Latitude
    27.9423
    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
    $69,327
    $882,090
    $2,939,110
    $3,821,200
    -
    $882,090
    $2,939,110
    $3,821,200

    Comparable in this City

    • Value Estimation
      $6,950,000
      65,599 SF

      3922 Coconut Palm Dr

      OFFICE BUILDING (MULTI-STORY) • 65,599 SF
      3922 Coconut Palm Dr, Tampa, FL 33619-1388
      View Details
    • Value Estimation
      $3,245,000
      22,890 SF

      3923 Coconut Palm Dr

      OFFICE BUILDING • 22,890 SF
      3923 Coconut Palm Dr, Tampa, FL 33619-1356
      View Details
    • Value Estimation
      $6,910,000
      33,020 SF

      2526 Falkenburg Rd

      OFFICE BUILDING • 33,020 SF
      2526 Falkenburg Rd, Tampa, FL 33619-0917
      View Details
    • Value Estimation
      $760,000
      3,632 SF

      6412 Cswy Blvd

      OFFICE BUILDING • 3,632 SF
      6412 Cswy Blvd, Tampa, FL 33619
      View Details
    • Value Estimation
      $1,375,000
      6,580 SF

      7221 Dr Martin Luther King Jr Blvd

      OFFICE BUILDING • 6,580 SF
      7221 Dr Martin Luther King Jr Blvd, Tampa, FL 33619-1129
      View Details
    • Value Estimation by Request
      1,035 SF

      9201 Adamo Dr

      OFFICE BUILDING • 1,035 SF
      9201 Adamo Dr, Tampa, FL 33619-2603
      View Details

    Similar Nearby for Sale

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      Pending

      Prime Commercial Infill Development Opportunity

      2.82-acre commercial infill property in Tampa's growth corridor.
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      Business Professional Office Building For Sale

      Business Professional Office Building with street frontage in Tampa, FL.
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      38,990 SF

      Manufacturing Facility with Office Space

      38,990 SF manufacturing facility with warehouse and office space.
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    • $425,000
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      Corner Lot Investment Opportunity

      High-traffic Tampa corner lot with office and development potential.
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      966 SF

      Industrial Property with Income Potential

      Industrial property with income potential near major roads.
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      38,475 SF

      Industrial Warehouse with Outdoor Storage

      Spacious warehouse with office, truck well, and outdoor storage.
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    Similar Nearby for Lease

    • Contact for pricing
      1,344 SF

      Tampa Freestanding Office Building Lease

      Freestanding office building for lease in Tampa with immediate availability.
      5609 E Adamo Dr, Tampa, FL 33619
      View Details
    • Contact for pricing

      Freestanding Office Building For Lease

      Freestanding office building for lease in Tampa, Florida.
      5609 E Adamo Dr, Tampa, FL 33619
      View Details
    • Contact for pricing
      7,871 SF

      Office Building with Prominent Signage

      58,960 SF office building available for lease.
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      View Details
    • New
      $650 /Mo
      23,346 SF

      Move-in Ready Furnished Office Space

      Fully furnished office space with included amenities in Tampa, Florida.
      1211 Tech Blvd, Tampa, FL 33619
      View Details
    • Contact for pricing
      64,850 SF

      Renovated Office Building For Lease

      64,850 SF office building with modern amenities and easy access.
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      View Details
    • Contact for pricing
      3,620 SF

      Three-Story Office Building For Rent

      58,319 SF office building with efficient floor plans.
      10002 Princess Palm Ave, Tampa, FL 33619
      View Details
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    615 Ware Blvd
    Tampa, FL 33619-4444
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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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