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Building Details

Buildings 5

Listing Agency: EXP REALTY LLC Show Phone

Listed By: Eric Bogert · License #3320653 Show Phone

Source: Exprealty

Added: Aug 10 Changed: Oct 15 Last Checked: Oct 14 at 11:16PM

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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 EXP REALTY LLC

Investment Insights

Based on property information with market context.

Built in 1945, this triplex property spans two separate lots totaling nearly a quarter acre. The improvements include an 810-square-foot main house with 1 bedroom and an office, a remodeled 400-square-foot efficiency, a garage with an existing kitchenette and bathroom, plus two sheds. The garage provides storage space and may support additional use with further work.

The property is located one block from the Hillsborough River and sits in flood zone X. A large parking area provides room for vehicles, including boat or RV storage. The existing arrangement combines multiple buildings with separate-lot land area for continued use or future planning.

Key Highlights

• 810‑square‑foot main house with 1 bedroom plus office
• Remodeled 400‑square‑foot efficiency
• Two separate lots totaling nearly a quarter acre

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,124

Cap Rate

2.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$282,480 $282.5K

Cap Rate 7%

$201,771 $201.8K

Cap Rate 9%

$156,933 $156.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,210 SF

Gross rent

$21.6K $17.88/SF

− Vacancy

−$1.5K −$1.21/SF

EGI

$20.2K $16.67/SF

− OpEx

−$6.1K −$5.00/SF

NOI

$14.1K $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 Rate 5%

$282,480

Cap Rate 7%

$201,771

Cap Rate 9%

$156,933

Alternative Uses

Best Use

Multifamily LT 5

$201.8K

$176.6K – $235.4K (±1% cap)

NOI $14,124 @ 7.0% cap · market cap 2.85%

Second Best

Apartment 5plus

$187.6K

$164.2K – $218.9K (±1% cap)

NOI $13,132 @ 7.0% cap · market cap 2.65%

Theoretical Best

Office A

$281.9K

$246.7K – $328.9K (±1% cap)

NOI $19,733 @ 7.0% cap · market cap 3.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm Parking Lot & Garage Electrical Service Real Estate Agency Accounting Firm Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

575

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Two separate lots include a main residence, remodeled efficiency, garage, and storage sheds.

Where is this triplex located?

The property is located at 1014 W Mohawk Ave Tampa, FL.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: 810‑square‑foot main house with 1 bedroom plus office; Remodeled 400‑square‑foot efficiency; Two separate lots totaling nearly a quarter acre