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    6902 Armenia Ave Tampa, FL 33604-5253
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    Property profile & analytics

    6902 Armenia Ave, Tampa, FL 33604-5253

    View on Map
    • Strip malls
    • 12,517 SF
    • 3.48 lot acres
    Off-Market
    Property ID
    US18-3976652
    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
    $1,820,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hillsborough Lock & Key / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 6902 Armenia Ave

    Year built
    1967
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.48 lot acres
    Zone code
    CG
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    A2728183G8F00000000130
    APU
    A2728183G8F00000000130

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,945,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4851
    Latitude
    28.0115
    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
    $26,475
    $1,016,224
    $78,476
    $1,094,700
    -
    $1,016,224
    $78,476
    $1,094,700

    Comparable in this City

    • Value Estimation
      $1,425,000
      9,296 SF

      1002 Waters Ave

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation
      $1,645,000
      8,367 SF

      6713 Armenia Ave

      SHOPPING CENTER, STRIP CENTER
      6713 Armenia Ave, Tampa, FL 33604-5715
      View Details
    • Value Estimation
      $585,000
      3,812 SF

      7504 Florida Ave

      SHOPPING CENTER, STRIP CENTER
      7504 Florida Ave, Tampa, FL 33604-4178
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    • Value Estimation
      $655,000
      4,682 SF

      7101 Nebraska Ave

      SHOPPING CENTER, STRIP CENTER
      7101 Nebraska Ave, Tampa, FL 33604-4914
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    • Value Estimation by Request
      3,697 SF

      8127 Nebraska Ave, Unit 8131

      SHOPPING CENTER, STRIP CENTER
      8127 Nebraska Ave, Tampa, FL 33604-3104
      View Details
    • Value Estimation
      $1,100,000
      7,535 SF

      7901 Armenia Ave

      SHOPPING CENTER, STRIP CENTER
      7901 Armenia Ave, Tampa, FL 33604-3847
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      539 SF

      Retail Strip Center Investment

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      Tampa Retail Strip Center Investment

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      Tampa Retail Center For Sale

      100% occupied retail center in Tampa, Florida.
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    • Contact for pricing
      2,952 SF

      Retail Space For Sale

      Retail space available for purchase.
      7123 N Armenia Ave, Tampa, FL 33604
      View Details
    • $3,129,000

      Tampa Mixed-Use Investment Opportunity

      Fully leased mixed-use property with retail and apartments for sale.
      6711-6735 N Armenia Ave, Tampa, FL 33604
      View Details
    • $1,550,000
      Pending

      North Tampa Commercial Building

      7,324 SF commercial building with three units and garage.
      8202 N Armenia Ave, Tampa, FL 33604
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,007 SF

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      Retail space with high visibility and access to I-275.
      8219-8247 N Florida Ave, Tampa, FL 33604
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      Renovated Retail Strip Center

      Retail strip center with available spaces in Tampa, Florida.
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      View Details
    • Contact for pricing
      4,600 SF

      Renovated Tampa Retail Space Available

      650 sq ft retail space in revitalized Tampa strip center.
      5709 N Nebraska Ave, Tampa, FL 33604
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    • $18,000 /Mo

      Renovated Tampa Retail Space Available

      650 SF retail space in renovated Tampa strip center.
      5713 N Nebraska Ave, Tampa, FL 33604
      View Details
    • $121,815
      Pending

      Industrial/Retail Space on Armenia Avenue

      Versatile commercial space with showroom and warehouse, excellent location.
      7941 N Armenia Ave, Tampa, FL 33604
      View Details
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    Tampa, FL 33604-5253
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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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