Triplex With Lockout
For Sale
$540,000
2526 W UNION Street, Tampa, FL 33607
Residential Income, TAMPA, FL
Property Size1,725 SF
Lot Size0.11 Acres
Price / SF$313.04
Days on Market98
Property Features for 2526 W UNION Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RM-16
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1
Parking features
Driveway, Tandem, Oversize, Guest, On Street
Patio and Porch features
Patio, Porch
Pets allowed
Dogs OK, Cats OK, Yes
Interior features
Primary Bedroom Main Floor, Solid Surface Counters, Thermostat, Window Treatments
Exterior features
Fence, Private Entrance, Private Yard
Fencing
Fenced
Appliances
Dishwasher, Disposal, Dryer, Electric Water Heater, Freezer, Microwave, Range, Refrigerator, Washer
Subdivision
MAC FARLANES REV MAP OF ADD
Lot features
Paved
Elementary school
West Tampa-HB
Middle school
Madison-HB
High school
Jefferson
Directions
Coming from Down Town Tampa take I-275 N 1.8 miles to Armenia Ave exit. Go North on Armenia Ave for 312 feet. Then turn left (west) onto Union street. The home is approx. 180 ft on the left (south) hand side. No sign in yard!
Standard status
Active
APN
A-15-29-18-4PQ-000047-00006.0
Size
1,725 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MAC FARLANES REV MAP OF ADDITIONS TO WEST TAMPA LOT 6 BLOCK 47
Tax Annual Amount
2995
Legal Description
MAC FARLANES REV MAP OF ADDITIONS TO WEST TAMPA LOT 6 BLOCK 47
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating), Central
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air
Water source
Public
Amenities
covered front porch
Building Details
Year built
1926
Floors in Building
1
Flooring type
Tile - Ceramic, Tile, Vinyl
Building materials
Metal Siding, Frame
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
KELLER WILLIAMS TAMPA CENTRAL · Keller Williams Realty
(813) 865-0700
Listed By:
Amy Greenfield · License #3190097
(813) 777-6104
Added: May 25
Changed: Aug 20
Last Checked: Aug 30 at 6:06AM
MLS# TB8512110
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 1,725-square-foot triplex-style property on a 0.11-acre lot combines a two-bedroom, one-bath residence with two separate one-bedroom, one-bath suites. The primary residence includes the full kitchen, driveway, front yard, and a covered tiled porch. Each lockout suite has its own bedroom, bathroom, living area, and kitchenette equipped with a wet bar, sink, cabinetry, refrigerator, and under-cabinet lighting. Three exterior entrances and interior security doors support the property’s divided configuration. Renovated interiors include tile and vinyl flooring, central air, ductless heating, and a mix of updated appliances. The home was built in 1926 and has a shingle roof, fenced outdoor areas, and public water and sewer.
Located at 2526 W Union Street in Tampa’s West Tampa area, the property is near Tampa International Airport, Amalie Arena, Raymond James Stadium, and Tampa General Hospital. It is also one street from the city’s planned Riverwalk expansion.
Located at 2526 W Union Street in Tampa’s West Tampa area, the property is near Tampa International Airport, Amalie Arena, Raymond James Stadium, and Tampa General Hospital. It is also one street from the city’s planned Riverwalk expansion.
Key Highlights
- 1,725‑square‑foot triplex‑style property on a 0.11‑acre lot
- 4‑bedroom, 3‑bath layout with 2 additional bonus rooms
- One 2‑bedroom, 1‑bath residence plus two 1‑bedroom, 1‑bath suites
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
$20,135
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
3.73%
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%
$402,700
$402.7K
Cap Rate 7%
$287,643
$287.6K
Cap Rate 9%
$223,722
$223.7K
Market Conditions
NOI Build-Up for 1,725 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
$30.8K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$28.8K $16.67/SF
− OpEx
−$8.6K −$5.00/SF
NOI
$20.1K $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%
$402,700
Cap Rate 7%
$287,643
Cap Rate 9%
$223,722
Alternative Uses
Best Use
Multifamily LT 5
$287.6K
$251.7K – $335.6K
NOI $20,135 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$267.4K
$234.0K – $312.0K
NOI $18,721 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$401.9K
$351.6K – $468.9K
NOI $28,131 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 33607, FL
24,767
Population
13,158
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
87%
High-School Grad
9.3 sq mi
ZIP Area
2,663
Density / Sq Mi
$66,404
Median Household Income
$43,404
Median Earnings
$1,771
Median Rent
$316,100
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?
Triplex - Flexible three-part layout with separate entrances, kitchens, and private living areas.
Where is this triplex located?
The property is located at 2526 W UNION Street Tampa, FL.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 1,725‑square‑foot triplex‑style property on a 0.11‑acre lot; 4‑bedroom, 3‑bath layout with 2 additional bonus rooms; One 2‑bedroom, 1‑bath residence plus two 1‑bedroom, 1‑bath suites
