Population
403,000
Growth (5Y)
+12.9%
Median Income
$63,000
Metro GDP
$188B
Market Overview
Tampa is Florida's second largest market and a top-tier NNN investment destination. The city's diverse economy — anchored by financial services, healthcare, defense, and tourism — provides exceptional stability for NNN tenants. Florida's zero income tax continues to draw retirees and working-age professionals from high-tax states at record rates. The Hillsborough, Pinellas, and Pasco county suburban corridors are among the most active for new NNN development in the Southeast.
Key Highlights
Zero Florida state income tax is the single biggest driver of population in-migration
Major finance and insurance hub (Raymond James, USAA, Citigroup) anchors high-income base
Strong military presence (MacDill AFB) provides recession-resistant employment base
Tampa Bay area tourism and recreation economy creates year-round retail demand
Why Invest in Tampa
- 1Florida zero income tax makes Tampa a top destination for retiree capital reinvestment
- 2Major port and logistics hub supports consistent employment across economic cycles
- 3Wawa convenience stores in Florida are among the highest-volume retail sites nationally
- 4Pasco County suburban expansion offers new NNN ground-up development opportunities
Recent NNN Activity
"Tampa Bay NNN market recorded $490M in transactions in 2024. Wawa ground leases continue to command premium pricing (sub-5% cap rates) from institutional and private investors. The Wesley Chapel and Riverview corridors saw the most new NNN construction."
NNN Snapshot
Cap Rate Range
5% - 6.5%
Price Range
$1.4M - $4.8M
Avg Lease Term
13 Years
Unemployment Rate
3.3%
Active NNN Tenants
WawaMcDonald'sCVSWalgreensPublixDollar GeneralStarbucks
Major Employers
Raymond James FinancialWellCareCitigroupUSAATampa General HospitalMacDill AFB
Find NNN Properties in Tampa
Our advisors have exclusive, off-market NNN inventory in the Tampa market right now. Contact us to see what's available before it hits the public market.