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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7520 Waters Ave Tampa, FL 33615-1599

    • Strip malls
    • 12,585 SF
    • 3.73 lot acres
    OFF-MARKET
    Last Sale
    Aug 15, 2022
    $4,500,000
    Value Estimations
    $4,425,000
    Show details
    Cap Rate Potential
    4%
    Strip malls
    Location Intelligence
    Property ID
    US18-5244773
    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

    • ABBA TAMPA / Church
    • Rite Rx Care Pharmacy / Pharmacy
    • Health Mart Pharmacy / Pharmacy
    • Better At Home / Home Health Care Service
    • ABBA CHURCH / Church

    Property Details for 7520 Waters Ave

    Year built
    1980
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.73 lot acres
    Property size
    12,585 SF
    Zone code
    CG
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    U252817ZZZ000000370800
    APU
    U252817ZZZ000000370800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,600,000
      ML approach
      $4,740,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,070,000
      6.5%
      $2,835,000
      7%
      $2,635,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,953,000
      Market price range: $1.52M - $4.95M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,275,000
      Current use
      RESTAURANT
      $6,065,000
      Change: +85% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $4,615,000
      Change: +41% Conversion: Difficult
      OFFICE BUILDING
      $4,440,000
      Change: +36% Conversion: Moderate
      MEDICAL BUILDING
      $3,400,000
      Change: +4% Conversion: Difficult
      RETAIL STORES
      $2,795,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.5635
    Latitude
    28.0247
    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
    $69,517
    $2,277,446
    $1,568,854
    $3,846,300
    -
    $2,277,446
    $1,568,854
    $3,846,300

    Comparable in this City

    • Value Estimation
      $360,000
      4,427 SF

      6708 Memorial Hwy

      SHOPPING CENTER, STRIP CENTER • 4,427 SF
      6708 Memorial Hwy, Tampa, FL 33615-4535
      View Details
    • Value Estimation
      $620,000
      6,456 SF

      5322 Kelly Rd

      SHOPPING CENTER, STRIP CENTER • 6,456 SF
      5322 Kelly Rd, Tampa, FL 33615-4727
      View Details
    • Value Estimation
      $530,000
      14,494 SF

      4701 Normandy Dr

      SHOPPING CENTER, STRIP CENTER • 14,494 SF
      4701 Normandy Dr, Tampa, FL 33615-4511
      View Details
    • Value Estimation
      $455,000
      7,920 SF

      8002 Waters Ave

      SHOPPING CENTER, STRIP CENTER • 7,920 SF
      8002 Waters Ave, Tampa, FL 33615-1800
      View Details
    • Value Estimation
      $1,335,000
      45,662 SF

      5537 Sheldon Rd

      SHOPPING CENTER, STRIP CENTER • 45,662 SF
      5537 Sheldon Rd, Tampa, FL 33615-3153
      View Details
    • Value Estimation
      $400,000
      7,951 SF

      7010 Sheldon Rd

      SHOPPING CENTER, STRIP CENTER • 7,951 SF
      7010 Sheldon Rd, Tampa, FL 33615-2324
      View Details

    Similar Nearby for Sale

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      Retail Storefront Business Opportunity

      6,200 SF retail storefront business for sale.
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      Established Oriental Market For Sale

      Thriving oriental market serving Tampa community for over 30 years.
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      Profitable Gas Station For Sale

      Gas station with convenience store, food service, and auto repair.
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    • $175,000
      0.83 Acres

      Corner Lot in Town and Country

      0.83 acre corner lot in Tampa's Town and Country.
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    Similar Nearby for Lease

    • $25 SF/Yr
      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
      1,316 SF

      Retail Space on Hillsborough Avenue

      Neighborhood center with high visibility and ample parking available forrent.
      11266-11284 W Hillsborough Ave, Tampa, FL 33615
      View Details
    • $12 SF/Yr
      30,000 SF

      Former Big Lots Retail Space

      30,000 SF retail space in high-visibility Tampa center.
      7501 West Hillsborough Ave, Tampa, FL 33615
      View Details
    • 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

      Freestanding Building on Memorial Hwy

      18,843 SF building and 1.42 acre commercial pad available.
      6621 Memorial Hwy, Tampa, FL 33615
      View Details
    • $15 SF/Yr
      6,500 SF

      Free Standing Building on Hillsborough

      Free standing 13,268 SF building with great potential.
      13601 W Hillsborough Ave, Tampa, FL 33615
      View Details
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    7520 Waters Ave
    Tampa, FL 33615-1599
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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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