Quadplex With Detached
For Sale
$999,999
316 W COLUMBUS Drive, Tampa, FL 33602
Residential Income, TAMPA, FL
Property Size2,606 SF
Lot Size0.17 Acres
Price / SF$383.73
Days on Market195
Property Features for 316 W COLUMBUS Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-16
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bathroom 2, Bedroom 3, Bedroom 8, Bathroom 1, Bathroom 5, Bedroom 4, Bedroom 5, Bathroom 4, Bathroom 6, Bedroom 1, Bedroom 6, Bathroom 3, Bedroom 2
Interior features
Ceiling Fans(s), Walk-In Closet(s)
Exterior features
Courtyard, Private Yard
Subdivision
WEST HIGHLANDS
Directions
From I-275, take Exit 44 toward Downtown East/West and merge onto N Tampa Street heading south; continue approximately 0.6 miles, then turn right onto W Columbus Drive, and the property will be on the south (right) side of the street.
Standard status
Active
APN
A-13-29-18-4Y3-000001-00008.0
Size
2,606 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
WEST HIGHLANDS LOT 8 LESS N 6 FT FOR R/W BLOCK 1
Tax Annual Amount
5072
Legal Description
WEST HIGHLANDS LOT 8 LESS N 6 FT FOR R/W BLOCK 1
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Central Air
Water source
Public
Amenities
community laundry
Building Details
Year built
1921
Number of units
4
Flooring type
Tile - Ceramic
Building materials
Frame, Wood Siding
Roof type
Shingle
Listing Agency:
REALTY EXPERTS
(727) 888-1000
Listed By:
Kyle Noseworthy · License #3537883
(215) 589-3677
Added: Feb 16
Changed: Aug 20
Last Checked: Aug 30 at 9:06PM
MLS# TB8476378
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 2,606-square-foot multifamily property occupies 0.17 acres and includes several residential structures. The front building contains a four-bedroom, two-bath layout configured as four individual units, along with an upstairs two-bedroom, one-bath unit and a separate one-bedroom, one-bath unit below. A detached one-bedroom, one-bath cottage adds another residential component. Shared community laundry and private laundry within the four-bedroom, two-bath area support the property's varied configurations.
Built in 1921, the property has frame construction with wood siding, ceramic tile flooring, a shingle roof, central air, and ductless heating. Additional features include a courtyard, private yard, ceiling fans, walk-in closets, public water, and public sewer. The property is fully rented and located near Armature Works, the Riverwalk, Downtown Tampa, dining, retail, and major employment centers.
Built in 1921, the property has frame construction with wood siding, ceramic tile flooring, a shingle roof, central air, and ductless heating. Additional features include a courtyard, private yard, ceiling fans, walk-in closets, public water, and public sewer. The property is fully rented and located near Armature Works, the Riverwalk, Downtown Tampa, dining, retail, and major employment centers.
Key Highlights
- 2,606 SF multifamily property on 0.17 acres
- Front building includes a four‑bedroom, two‑bath layout configured as four individual units
- Additional upstairs 2 bedroom / 1 bath and below‑grade 1 bedroom / 1 bath units
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
$30,418
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
3.04%
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%
$608,360
$608.4K
Cap Rate 7%
$434,543
$434.5K
Cap Rate 9%
$337,978
$338.0K
Market Conditions
NOI Build-Up for 2,606 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
$46.6K $17.88/SF
− Vacancy
−$3.1K −$1.21/SF
EGI
$43.5K $16.67/SF
− OpEx
−$13.0K −$5.00/SF
NOI
$30.4K $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%
$608,360
Cap Rate 7%
$434,543
Cap Rate 9%
$337,978
Alternative Uses
Best Use
Multifamily LT 5
$434.5K
$380.2K – $507.0K
NOI $30,418 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$404.0K
$353.5K – $471.4K
NOI $28,282 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$607.1K
$531.2K – $708.3K
NOI $42,499 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
Explore this area
Business Placement
Demographics for 33602, FL
19,936
Population
11,972
Households
1.7
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
2.6 sq mi
ZIP Area
7,668
Density / Sq Mi
$88,569
Median Household Income
$66,434
Median Earnings
$2,119
Median Rent
$560,400
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 - Fully leased property combines multiple residential configurations, a detached cottage, and shared and private laundry amenities.
Where is this quadplex located?
The property is located at 316 W COLUMBUS Drive Tampa, FL.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 2,606 SF multifamily property on 0.17 acres; Front building includes a four‑bedroom, two‑bath layout configured as four individual units; Additional upstairs 2 bedroom / 1 bath and below‑grade 1 bedroom / 1 bath units
