Art Deco
For Sale
$679,999
1-4-2904 W Chestnut St, Tampa, FL 33607
Four two-bedroom residences are arranged across two levels with a fenced outdoor area for tenant use.
Property Size3,285 SF
Price / SF$207
Days on Market13
Property Features for 1-4-2904 W Chestnut St
General Information
Standard status
Active
Size
3,285 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,223
Amenities
fenced-in outdoor area
Building Details
Buildings
1
Stories
2
Construction
Art Deco
Tenancy
Multi
Listing Agency:
SPECIALIZED PROPERTY MANAGEMENT
(407) 705-8559
Listed By:
Nancy Guadagnino
(407) 705-8559
Source:
Exprealty
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 10 at 7:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SPECIALIZED PROPERTY MANAGEMENT
Investment Insights
Based on property information with market context.
This 3,285-square-foot quadplex contains four 2-bedroom, 1-bathroom units, with two residences on each floor. The Art Deco architectural style provides a distinctive character, while a small fenced outdoor area offers shared tenant-use space. Two units are currently occupied, providing an existing occupancy component for an owner evaluating the property.
The property is located at 1-4-2904 W Chestnut St in Tampa, near McFarlane Park, Armature Works, and Tampa International Airport. Its West Tampa setting places the building near dining, entertainment, and transit destinations identified in the property information.
The property is located at 1-4-2904 W Chestnut St in Tampa, near McFarlane Park, Armature Works, and Tampa International Airport. Its West Tampa setting places the building near dining, entertainment, and transit destinations identified in the property information.
Key Highlights
- Four 2‑bedroom, 1‑bathroom units in a quadplex configuration
- 3,285 square feet with two units upstairs and two downstairs
- Art Deco architectural style with distinctive period character
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
$38,344
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
5.64%
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%
$766,880
$766.9K
Cap Rate 7%
$547,771
$547.8K
Cap Rate 9%
$426,044
$426.0K
Market Conditions
NOI Build-Up for 3,285 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
$58.7K $17.88/SF
− Vacancy
−$4.0K −$1.21/SF
EGI
$54.8K $16.67/SF
− OpEx
−$16.4K −$5.00/SF
NOI
$38.3K $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%
$766,880
Cap Rate 7%
$547,771
Cap Rate 9%
$426,044
Alternative Uses
Best Use
Multifamily LT 5
$547.8K
$479.3K – $639.1K
NOI $38,344 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$509.3K
$445.6K – $594.2K
NOI $35,651 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$765.3K
$669.7K – $892.9K
NOI $53,572 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,705
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?
Quadplex - Four two-bedroom residences are arranged across two levels with a fenced outdoor area for tenant use.
Where is this quadplex located?
The property is located at 1-4-2904 W Chestnut St Tampa, FL.
What is the asking price?
The asking price for this property is $679,999.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bathroom units in a quadplex configuration; 3,285 square feet with two units upstairs and two downstairs; Art Deco architectural style with distinctive period character
