Four-Unit Quadplex with Mixed
For Sale
$998,000
236 W NORTH Street, Tampa, FL 33604
Residential Income, TAMPA, FL
Property Size2,713 SF
Lot Size0.13 Acres
Price / SF$367.86
Days on Market45
Property Features for 236 W NORTH Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
SH-RS
Bedrooms
28
Bathrooms
20
Full bathrooms
20
Rooms
Bedroom 23, Bathroom 2, Bedroom 3, Family Room, Bedroom 12, Bedroom 15, Bedroom 26, Bathroom 14, Bathroom 20, Bedroom 27, Bedroom 28, Bedroom 17, Bedroom 7, Bedroom 14, Bedroom 22, Bedroom 11, Bathroom 5, Bathroom 8, Bedroom 9, Bedroom 13, Bathroom 10, Bathroom 12, Bathroom 13, Bathroom 15, Bathroom 16, Bathroom 17, Bedroom 6, Dining Room, Bedroom 10, Bathroom 7, Bedroom 8, Bedroom 25, Bathroom 18, Bathroom 19, Bedroom 4, Bedroom 5, Bathroom 4, Bedroom 16, Bedroom 1, Bathroom 3, Bedroom 21, Bathroom 1, Bedroom 24, Bathroom 6, Bathroom 11, Bathroom 9, Bedroom 18, Bedroom 20, Bedroom 2, Bedroom 19
Interior features
Ceiling Fans(s), Kitchen/Family Room Combo, Living Room/Dining Room Combo
Exterior features
Lighting
Fireplace
1
Subdivision
NORTH PARK ANNEX
Directions
Head N on 275 to Sligh. Left on Sligh. Left on Florida. Right on North. Welcome Home!
Standard status
Active
APN
A-36-28-18-4FB-000000-00577.0
Size
2,713 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NORTH PARK ANNEX LOT 577
Tax Annual Amount
11096
Legal Description
NORTH PARK ANNEX LOT 577
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1925
Building materials
Frame
Roof type
Shingle
Listing Agency:
BRAINARD REALTY
(813) 922-2891
Listed By:
Chris Zoller · License #3340134
(813) 997-1501
Added: Jul 18
Changed: Aug 20
Last Checked: Aug 31 at 12:06PM
MLS# TB8521848
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,713-square-foot quadplex contains four separate residences with varied configurations. Unit A is vacant with 2 bedrooms and 2 bathrooms; Unit B has 1 bedroom and 1 bathroom and operates as an Airbnb; Unit C includes 2 bedrooms and 1 bathroom under lease; and Unit D offers 2 bedrooms and 2 bathrooms under lease. The property combines long-term tenancy with short-term rental use, subject to applicable local regulations.
Built in 1925 on a 0.13-acre corner lot, the property has frame construction, a shingle roof, central air, electric heating, public water, and public sewer. Interior features include ceiling fans, combined kitchen and family room space, and combined living and dining areas. A fireplace and exterior lighting are also present. The property is zoned SH-RS and located near restaurants, breweries, coffee shops, Downtown Tampa, Ybor City, Armature Works, Midtown Tampa, Raymond James Stadium, Tampa International Airport, I-275, and the Hillsborough River.
Built in 1925 on a 0.13-acre corner lot, the property has frame construction, a shingle roof, central air, electric heating, public water, and public sewer. Interior features include ceiling fans, combined kitchen and family room space, and combined living and dining areas. A fireplace and exterior lighting are also present. The property is zoned SH-RS and located near restaurants, breweries, coffee shops, Downtown Tampa, Ybor City, Armature Works, Midtown Tampa, Raymond James Stadium, Tampa International Airport, I-275, and the Hillsborough River.
Key Highlights
- Four‑unit quadplex with 2,713 square feet of property size
- Unit mix includes two 2‑bedroom residences, one 1‑bedroom residence, and one additional 2‑bedroom residence
- Unit A is vacant; Units C and D are leased; Unit B operates as an Airbnb
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,667
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$633,340
$633.3K
Cap Rate 7%
$452,386
$452.4K
Cap Rate 9%
$351,856
$351.9K
Market Conditions
NOI Build-Up for 2,713 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.5K $17.88/SF
− Vacancy
−$3.3K −$1.21/SF
EGI
$45.2K $16.67/SF
− OpEx
−$13.6K −$5.00/SF
NOI
$31.7K $11.67/SF
Area
Tampa, FL
Vacancy
6.74%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$633,340
Cap Rate 7%
$452,386
Cap Rate 9%
$351,856
Alternative Uses
Best Use
Multifamily LT 5
$452.4K
$395.8K – $527.8K
NOI $31,667 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$420.6K
$368.0K – $490.7K
NOI $29,443 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$632.1K
$553.1K – $737.4K
NOI $44,244 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Explore this area
Business Placement
Demographics for 33604, FL
39,071
Population
17,053
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,209
Density / Sq Mi
$55,988
Median Household Income
$39,537
Median Earnings
$1,326
Median Rent
$264,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property combining leased units, an active Airbnb, and one vacant residence for flexible occupancy.
Where is this quadplex located?
The property is located at 236 W NORTH Street Tampa, FL.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2,713 square feet of property size; Unit mix includes two 2‑bedroom residences, one 1‑bedroom residence, and one additional 2‑bedroom residence; Unit A is vacant; Units C and D are leased; Unit B operates as an Airbnb
