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    8502 Citrus Park Dr Tampa, FL 33625-3003
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    Property profile & analytics

    8502 Citrus Park Dr, Tampa, FL 33625-3003

    View on Map
    • Strip malls
    • 8,152 SF
    • 0.94 lot acres
    Off-Market
    Last Sale Apr 22, 2022
    $4,750,000
    Property ID
    US18-5118578
    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
    $4,790,000
    Show details
    Cap Rate Potential
    2.3%
    Strip malls
    Location Intelligence

    Current Use by Public Records

    • GameStop / Arcade & Gaming Center / Electronics & Wireless Store

    Property Details for 8502 Citrus Park Dr

    Year built
    2005
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.94 lot acres
    Zone code
    PD
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    U1128175GG000000T00000
    APU
    U1128175GG000000T00000

    Description

    Citrus Park Plaza offers exceptional street-front retail opportunities within a thriving power center outparcel in Hillsborough County. This multi-tenant property boasts a total of 7,965 square feet, currently featuring three suites. Two prime retail spaces are immediately available, ranging from 2,373 to 2,891 contiguous square feet. The total vacant space amounts to 5,264 square feet, presenting a significant opportunity for expansion or multiple tenants. Ideal for a variety of uses, including hair salons, restaurants, fitness centers, nail salons, or coffee shops. The property's high-visibility location within a busy power center ensures maximum exposure and foot traffic, making it an excellent investment for businesses seeking a strong presence in a densely populated area. The minimum divisible space is 2,373 square feet, providing flexibility for businesses of varying sizes. This is a rare chance to secure a prominent retail location in a prime Hillsborough County location. Contact us today to learn more about leasing options and explore the potential of this exceptional retail property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,855,000
      ML approach
      $4,800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,208,000
      Market price range: $983k - $3.21M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $3,930,000
      APARTMENT HOUSE (5+ UNITS)
      $2,990,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.5784
    Latitude
    28.0657
    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
    $66,703
    $794,360
    $3,005,640
    $3,800,000
    -
    $794,360
    $3,005,640
    $3,800,000

    Comparable in this City

    • Value Estimation
      $3,225,000
      17,599 SF

      8619 Citrus Park Dr

      SHOPPING CENTER, STRIP CENTER
      8619 Citrus Park Dr, Tampa, FL 33625-3014
      View Details
    • Value Estimation
      $2,035,000
      13,890 SF

      7620 Gunn Hwy

      SHOPPING CENTER, STRIP CENTER
      7620 Gunn Hwy, Tampa, FL 33625-3144
      View Details
    • Value Estimation
      $1,275,000
      6,727 SF

      8206 Citrus Park Dr

      SHOPPING CENTER, STRIP CENTER
      8206 Citrus Park Dr, Tampa, FL 33625-3006
      View Details
    • Value Estimation
      $1,905,000
      10,437 SF

      6917 Gunn Hwy

      SHOPPING CENTER, STRIP CENTER
      6917 Gunn Hwy, Tampa, FL 33625-3817
      View Details
    • Value Estimation
      $5,395,000
      13,297 SF

      8608 Citrus Park Dr

      SHOPPING CENTER, STRIP CENTER
      8608 Citrus Park Dr, Tampa, FL 33625-3012
      View Details
    • Value Estimation
      $2,960,000
      17,536 SF

      6160 Gunn Hwy

      SHOPPING CENTER, STRIP CENTER
      6160 Gunn Hwy, Tampa, FL 33625-4014
      View Details

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    Similar Nearby for Lease

    • Contact for pricing

      Citrus Park Retail Space Available

      Retail spaces available in a power center near Westfield Mall.
      12845 Citrus Park Plz Dr, Tampa, FL 33625
      View Details
    • Contact for pricing
      8,000 SF

      Retail Space in Citrus Park

      Retail space available in a well-located shopping center.
      12845 Citrus Park Plz Dr, Tampa, FL 33625
      View Details
    • Contact for pricing

      Citrus Park Power Center Space

      Retail space in a power center near Citrus Park Town Center.
      12845 Citrus Park Town Center Mall, Tampa, FL 33625
      View Details
    • Contact for pricing

      Retail Space Near Citrus Park

      Power center retail space conveniently located near Westfield Citrus Park.
      12845 Citrus Park Dr, Tampa, FL 33625
      View Details
    • Contact for pricing

      Citrus Park Town Center Mall

      Retail space available in Citrus Park Town Center Mall.
      8021 Citrus Park Town Center Mall, Tampa, FL 33625
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space on Sheldon Road

      Retail space for lease in a mixed-use development.
      11901-11935 Sheldon Rd, Tampa, FL 33625
      View Details
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    Tampa, FL 33625-3003
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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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