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    9340 Florida Ave Tampa, FL 33612-7925
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    Property profile & analytics

    9340 Florida Ave, Tampa, FL 33612-7925

    View on Map
    • Strip malls
    • 27,628 SF
    • 2.20 lot acres
    Off-Market
    Property ID
    US18-0205487
    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
    $3,325,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Direct Auto Insurance / Insurance Agency
    • CrossFit Big Guava / Gym & Fitness Center
    • Papa John's Pizza / Take-out & Catering
    • Jesus People Worship Center Church / Church
    • Lips By Sonia / Spa & Massage Center

    Property Details for 9340 Florida Ave

    Year built
    1964
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.20 lot acres
    Zone code
    CI
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    A2428183EM000007000050
    APU
    A2428183EM000007000050

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 4, 2025 $2,750,000 9340 N Florida Ave LLC Dnl Investment LLC Warranty Deed $2.2M · Bank Of America NA
    Mar 26, 2020 — Dnl Investment LLC — Deed · related $547k · Us Bank NA
    Mar 28, 2017 — Dnl Investment LLC — Deed · related —
    Nov 5, 2004 $2,000,000 Dnl Investment LLC Morin Linda N Trust Warranty Deed $1M · Credit Suisse First Boston Mtg
    Sep 20, 2000 $1,335,000 Real G Morin H H P No II INC Grant Deed $1.1M · Key Bank NA
    — — Dnl Investment LLC — Deed Of Trust · related $547k · Us Bk
    — — Dnl Investment LLC — Loan Modification · related —

    Description

    This exceptional 27,628 square foot shopping center, located at 9340 N Florida Ave in Tampa, Florida, presents a compelling value-add investment opportunity. The property boasts a strong 100% occupancy rate with a loyal tenant roster, many of whom have been in place for over a decade and recently renewed their leases for two to three years. Situated on a 2.2-acre lot in the desirable Northwest Tampa submarket, this Class C retail center benefits from high traffic counts exceeding 24,000 vehicles daily at the nearby intersection of N Florida Ave and W Hamiller Ave N. The center features a desirable tenant mix, including national brands like Papa Johns, Direct General, and Liberty Tax, with a median suite size of 1,782 square feet. The asking price is $3,300,000, representing a current cap rate of 5.82% and a pro-forma cap rate of 5.99%, reflecting below-market rents with significant upside potential. The property offers abundant parking with a ratio exceeding 2.31 spaces per 1,000 rentable square feet and a covered sidewalk along the entire storefront. The Net Operating Income (NOI) is $192,179, projected to increase to $197,676. The property is zoned CI and was built in 1964. This is a rare opportunity to acquire a well-positioned, high-performing retail asset with substantial growth potential in a thriving Tampa market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4601
    Latitude
    28.0354
    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
    $49,584
    $1,257,111
    $1,090,189
    $2,347,300
    -
    $1,257,111
    $1,090,189
    $2,347,300

    Comparable in this City

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      10401 Nebraska Ave

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      1214 Fowler Ave

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      1805 Fowler Ave

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation
      $1,460,000
      9,720 SF

      10910 30th St

      SHOPPING CENTER, STRIP CENTER
      10910 30th St, Tampa, FL 33612-6453
      View Details

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    Tampa, FL 33612-7925
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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.

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