Office in Tampa: Buy vs. Rent Guide for Professionals (2026)

As Tampa’s professional community heads into 2026, many business owners—CPAs, medical practices, attorneys, and consultants—are reassessing the long-term strategy for their office space. Lease renewals, interest rate stabilization, and practice growth have prompted a familiar New Year question:

“Is this the year I finally buy an office condo instead of staying in a lease?”

The right answer depends on your business goals, financial position, and how long you expect to stay in the same location. This guide walks through the major considerations Tampa professionals should evaluate when comparing buying vs. renting in 2026  — now updated with real pricing, market conditions, and case examples from Florida ROI.

What Is an Office Condo?

An office condo is a commercial suite that a professional practice purchases rather than leases. Similar to residential condominiums, owners share responsibility for the building through a property owners’ association.

Office condos appeal to professionals who want:

• Predictable long-term costs
• Control over their environment
• Tax benefits
• A permanent location for clients
• Equity growth over time

Tampa Office Condo Market Outlook for 2026

Demand for office condos from professional users remains steady entering 2026. Practices that value predictable expenses and long-term stability often gravitate toward ownership, especially in established professional corridors.

Here are the 2026 price ranges buyers can expect:

Office Condo 2026 Pricing (Real Data)

• General Office: $250–$295/SF
  
• Medical Office: $300–$340/SF
  
• Renovated / High-Finish: $320–$360/SF
  
• Older / Light Build-Out Units: $220–$245/SF
  

Key Submarket Differences (2026)

Carrollwood / North Tampa

• $270–$310/SF typical
  
• Very tight supply
  
• Most deals sell off-market
  
• Heavy SBA 504 activity among owner-users
  

Westshore

• $320–$360/SF
  
• Tight but stable demand
  
• Strong, well-funded condo associations
  

Brandon

• $230–$270/SF
  
• More balanced inventory
  
• Appeals to medical users and flex-office buyers

When Buying Makes Sense in 2026

Buying an office condo often makes sense for stable, established professional practices.

Here’s when buying becomes especially attractive:

1. You Want Predictable Monthly Costs

Mortgage payments provide far greater stability than MG leases, which continue to rise across Tampa.
For comparison, here are the real 2026 lease rates:

2026 Tampa Lease Rates

• General Office (NNN): $18–$22/SF
  
• General Office (MG): $22–$26/SF
  
• Medical Office (MG): $25–$32/SF
  
• Prime Medical (MG): $27–$35/SF
  

With MG rents trending upward, many professionals find that mortgage + HOA is now equal to — or cheaper than — leasing.

2. You Want to Build Equity Instead of Paying Rent

Ownership turns occupancy costs into long-term wealth, especially in constrained submarkets like Carrollwood and Westshore.

3. You Want Tax Advantages

Interest deductions and depreciation often reduce the effective cost of ownership — especially when combined with low down-payment SBA 504 loans.

4. Your Space Requires Customization

Medical, dental, and legal practices often require built-in plumbing, soundproofing, or specialty rooms.
Owning simplifies approvals and protects your investment in improvements.

Here’s one example

Case Where Buying Was Better (CPA Firm – Carrollwood)

A 2,000 SF CPA firm analyzed its options:

• Buying using SBA 504 + HOA turned out 12–15% cheaper annually
  
• MG rent alternatives were $24–$26/SF
  
• Ownership provided long-term control
  
• They gained equity while reducing occupancy expense
  

This is a typical outcome in tight, high-demand submarkets.

Key Indicators That Favor Buying

You may lean toward ownership in 2026 if:

• Your practice is stable and long-term
  
• You expect to stay in place 7–15 years
  
• You qualify for SBA 504 (10% down)
  
• You want full control over improvements
  
• You want predictable budgeting for the next decade
  
• Your submarket (e.g., Carrollwood, Westshore) has a tightening supply

For more background on commercial leases and cost structures, you may also want to review our article on CAM in Commercial Real Estate.

When Leasing Is Still the Better Choice

Leasing remains ideal for practices that expect growth, change, or relocation.

Leasing may be the better choice in 2026 if:

• You anticipate adding providers or staff
  
• You’re testing a new area
  
• You need flexibility due to uncertain business plans
  
• You want to preserve capital

For a broader overview on leasing in Tampa, visit our guide:
A Guide To Leasing Office Space in Florida

Case Where Renting Was the Smart Choice (Therapy Practice)

A therapy practice expecting rapid expansion avoided buying because:

• They would outgrow the space within 18–24 months
  
• Leasing provided scalability
  
• Buying would have forced them into a long-term commitment with the wrong size suite
  

In this case, renting preserved flexibility.

How to Calculate Your Break-Even Point

A simple formula helps compare renting vs. buying:

Break-Even = (Down Payment + Closing Costs + Improvements) ÷ (Monthly Savings vs. Rent)

Using SBA 504 financing, buyers often benefit from:

• 10% equity down
  
• Bank lending 50%
  
• CDC lending 40%
  

Example — $1,000,000 Purchase

• Borrower: $100,000
  
• CDC: $400,000
  
• Bank: $500,000
  

This structure makes ownership achievable for many professional practices.

Buy vs Rent: Side-by-Side Comparison

Need more details on operating expenses? Review our guide on controlling CAM increases:
Gaining Control Over CAM Charges: What Tenants Need To Know

Understanding Office Condo Associations

Office condo associations significantly impact ownership costs and resale value.
Here are the 2026 real-world ranges:

Typical Association Fees

• Standard Office: $4.00–$6.50/SF annually
  
• Medical Parks: $6.50–$9.00/SF annually
  

Common Issues in Tampa Associations

• Rising insurance premiums
  
• Low reserves → special assessments
  
• Parking limitations for high-intensity medical users
  
• Use restrictions affecting dental/medical conversions
  
• Confusion between NNN reimbursements vs HOA dues
  

These factors should always be part of your due diligence.

Who Should Buy vs. Who Should Keep Renting?

You may want to buy if:

• Your practice is stable and long-term
  
• You want predictable costs and equity growth
  
• You need highly customized space
  
• You plan to stay 7–15 years
  
• You operate in a tightening submarket
  

You may want to rent if:

• You need flexibility
  
• You’re planning relocation or expansion
  
• You want to preserve capital
  
• Your long-term plans are uncertain

Frequently Asked Questions

1. How much do office condos cost in Tampa in 2026?

• $250–$295/SF for general office
  
• $300–$340/SF for medical
  
• $320–$360/SF for high-finish
  
• $220–$245/SF for older units
  

2. Is buying cheaper than leasing long-term?

In several submarkets, yes — especially when MG rents are above $24–$26/SF.

3. What hidden costs come with office condo ownership?

HOA fees, insurance, reserves, assessments, and long-term capital projects.

4. Is SBA 504 financing useful in 2026?

Yes — 10% down makes ownership accessible for many professionals.

5. What should I review in an association?

Reserves, insurance structure, bylaws, maintenance obligations, and special assessment history.

Final Thoughts

Choosing whether to buy or lease office space is a long-term strategic decision for any professional practice. With a clearer view of how ownership and leasing compare—and how each fits within Tampa’s 2026 market—you can make a decision that supports your financial and operational goals. If you’d like to explore how this applies to your practice, Florida ROI can offer practical guidance based on real activity in the market.

If you’re weighing whether buying or renting makes more sense for your practice, Florida ROI is here to help you think it through. Our team has guided many Tampa professionals through this same decision, and we’re always happy to offer perspective based on real market experience.

This article reflects ongoing office market analysis led by Jordan Miller at Florida ROI, with strategic guidance from Eric Odum.