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

    8608 Citrus Park Dr Tampa, FL 33625-3012

    • Strip malls
    • 13,297 SF
    • 0.85 lot acres
    OFF-MARKET
    Last Sale
    Apr 13, 2022
    $5,400,000
    Value Estimations
    $5,395,000
    Show details
    Cap Rate Potential
    3.3%
    Strip malls
    Location Intelligence
    Property ID
    US19-0754657
    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

    • Bed Pros Mattress Citrus Park / Linens Store / Mattress Store

    Property Details for 8608 Citrus Park Dr

    Year built
    2004
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.85 lot acres
    Property size
    13,297 SF
    Zone code
    CG
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    U1128175LJ000000000B30
    APU
    U1128175LJ000000000B30

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,520,000
      ML approach
      $5,430,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,234,000
      Market price range: $1.60M - $5.23M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,460,000
      Current use
      RESTAURANT
      $6,410,000
      Change: +85% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $4,880,000
      Change: +41% Conversion: Difficult
      OFFICE BUILDING
      $3,710,000
      Change: +7% Conversion: Moderate
      MEDICAL BUILDING
      $3,595,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.5805
    Latitude
    28.0647
    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
    $81,947
    $718,408
    $3,861,992
    $4,580,400
    -
    $718,408
    $3,861,992
    $4,580,400

    Comparable in this City

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

      8619 Citrus Park Dr

      SHOPPING CENTER, STRIP CENTER • 17,599 SF
      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 • 13,890 SF
      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 • 6,727 SF
      8206 Citrus Park Dr, Tampa, FL 33625-3006
      View Details
    • Value Estimation
      $5,165,000
      10,569 SF

      6102 Gunn Hwy

      SHOPPING CENTER, STRIP CENTER • 10,569 SF
      6102 Gunn Hwy, Tampa, FL 33625-4014
      View Details
    • Value Estimation
      $1,420,000
      7,641 SF

      5319 Ehrlich Rd

      SHOPPING CENTER, STRIP CENTER • 7,641 SF
      5319 Ehrlich Rd, Tampa, FL 33625-5519
      View Details
    • Value Estimation
      $1,435,000
      7,752 SF

      5373 Ehrlich Rd

      SHOPPING CENTER, STRIP CENTER • 7,752 SF
      5373 Ehrlich Rd, Tampa, FL 33625-5501
      View Details

    Similar Nearby for Sale

    • $3,934,736
      6,922 SF

      Tampa Tire Kingdom NNN Lease

      High-yield auto shop investment. Strong tenant, long lease.
      6602 Gunn Hwy, Tampa, FL 33625
      View Details
    • $729,000
      2.18 Acres

      Tampa Residential Land - 2.18 Acres

      Prime 2.18-acre residential lot in Tampa, FL.
      6501 Gant Rd, Tampa, FL 33625
      View Details
    • $1,400,000
      3 SF

      Redevelopment Opportunity Near Veterans Expressway

      High-density location near Veterans Expressway and Tampa International Airport.
      5911 Bellamy Rd, Tampa, FL 33625
      View Details
    • New
      $199,999
      1.00 Acre

      Residential Land in Quiet Tampa Neighborhood

      1-acre vacant lot in Tampa, close to city conveniences.
      5958 Whippoorwill Dr, Tampa, FL 33625
      View Details
    • $1,400,000

      Redevelopment Land in Tampa, FL

      High-density redevelopment potential with lighted corner location.
      5911 Ehrlich Rd, Tampa, FL 33625
      View Details
    • $745,000

      Land For Sale Tampa

      Land available for sale in Tampa, Florida.
      6327 Gant Rd, Tampa, FL 33625
      View Details

    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
      98,326 SF

      Westgate Plaza Retail Space Available

      Tampa Retail Space: Multiple Units, High Visibility
      12020 Anderson Rd, Tampa, FL 33625
      View Details
    • Contact for pricing
      1,363 SF

      Retail Space in High-Traffic Area

      Retail space with high traffic count and strong demographics.
      12004-12096 Anderson Rd, Tampa, FL 33625
      View Details
    • $432 /Mo
      8,148 SF

      Tampa Auto Shop - 8,148 SF

      Prime Tampa auto repair shop, 12 bays, car wash.
      6560 Gunn Hwy, Tampa, FL 33625
      View Details
    • Contact for pricing
      340,000 SF

      Citrus Park Retail Power Center

      High-visibility retail space in Tampa, FL
      0 Citrus Park Dr. & Easy St, Citrus Park, FL 33625
      View Details
    • Contact for pricing
      1,155,462 SF

      Citrus Park Town Center Retail Spaces

      Tampa, FL Retail & Restaurant Opportunity
      8021 Citrus Park Town Center Mall, Tampa, FL 33625
      View Details
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    Tampa, FL 33625-3012
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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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