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

    8701 Hillsborough Ave Tampa, FL 33615-3704

    • Grocery and convenience stores
    • 64,031 SF
    • 6.29 lot acres
    OFF-MARKET
    Last Sale
    Aug 23, 2023
    $7,250,000
    Value Estimations
    $6,895,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3639040
    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

    • Simply Medicare / Insurance Agency
    • higi / Medical Clinic
    • Blue Rhino Propane Exchange / Propane Supplier
    • City National Bank - Presto ATM / Bank / Loan Service
    • Publix Pharmacy on W. Hillsborough Ave. / Pharmacy

    Property Details for 8701 Hillsborough Ave

    Year built
    1977
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.29 lot acres
    Property size
    64,031 SF
    Zone code
    PD
    Property type
    Grocery and convenience stores
    APN
    U3428170C4000000000300
    APU
    U3428170C4000000000300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,740,000
      ML approach
      $9,180,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.5837
    Latitude
    27.9976
    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
    $129,811
    $2,782,548
    $4,715,552
    $7,498,100
    -
    $2,782,548
    $4,715,552
    $7,498,100

    Comparable in this City

    • Value Estimation
      $1,095,000
      6,877 SF

      7534 Hillsborough Ave

      CONVENIENCE STORE • 6,877 SF
      7534 Hillsborough Ave, Tampa, FL 33615
      View Details
    • Value Estimation
      $680,000
      4,120 SF

      6908 Sheldon Rd

      CONVENIENCE STORE • 4,120 SF
      6908 Sheldon Rd, Tampa, FL 33615-2701
      View Details
    • Value Estimation by Request
      2,360 SF

      8749 Waters Ave

      CONVENIENCE STORE • 2,360 SF
      8749 Waters Ave, Tampa, FL 33615-1729
      View Details
    • Value Estimation
      $6,035,000
      44,172 SF

      6216 Elliot Dr

      GROCERY, SUPERMARKET • 44,172 SF
      6216 Elliot Dr, Tampa, FL 33615-2650
      View Details
    • Value Estimation by Request
      2,196 SF

      10111 Hillsborough Ave

      CONVENIENCE STORE • 2,196 SF
      10111 Hillsborough Ave, Tampa, FL 33615-3017
      View Details
    • Value Estimation by Request
      2,800 SF

      8212 Sheldon Rd

      CONVENIENCE STORE • 2,800 SF
      8212 Sheldon Rd, Tampa, FL 33615-1611
      View Details

    Similar Nearby for Sale

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      Established Oriental Market For Sale

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    • $540,000

      Corner Lot Retail Opportunity

      Retail property with high traffic, fenced yard, and parking.
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    • $750,000
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      Retail Storefront Business Opportunity

      6,200 SF retail storefront business for sale.
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    • $325,000
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      Tampa Medical Office Lot - Tract B

      Prime Medical Office Land, Tampa, FL
      5941-5943 Webb Rd, Tampa, FL 33615
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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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    • $2,900,000
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      Versatile Commercial Building For Sale

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    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Building on Memorial Hwy

      18,843 SF building and 1.42 acre commercial pad available.
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      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
    • $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
    • $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
    • 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
    • Contact for pricing
      52,595 SF

      Tampa Warehouse Space For Lease

      52,595 SF warehouse space available for lease in Tampa.
      9301-9321 Florida Palm Dr, Tampa, FL 33615
      View Details

    Property Visit Statistics

    • Visits by month
      120.4k
    • Visitors by month
      59.1k
    • Avg Time on site
      21 min
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    8701 Hillsborough Ave
    Tampa, FL 33615-3704
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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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