New Duplex With
For Sale
$515,000
Pending
10322 & 10324 CHALMER STREET, Spring Hill, FL 34608
Two separate residences offer a flexible owner-occupant or rental configuration in Spring Hill.
Property Size2,608 SF
Days on Market469
Property Features for 10322 & 10324 CHALMER STREET
General Information
Standard status
Pending
Size
2,608 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$529
Building Details
Year Built
2025
Buildings
1
Listing Agency:
MERMAID REALTY & ASSOCIATES LLC
(305) 310-2441
Listed By:
Marcos Perez · License #3433981
(305) 310-2441
Source:
Exitrealty
Added: May 21, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:45PM
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 MERMAID REALTY & ASSOCIATES LLC
Investment Insights
Based on property information with market context.
This under-construction duplex is scheduled for completion in 2025 and contains two separate residential units. Each unit provides 1,304 square feet of living area, with a layout comprising three bedrooms and two bathrooms. The property also includes a one-car garage and is designed for a two-unit residential use.
Located at 10322 & 10324 Chalmer Street in Spring Hill, Florida, the property offers an owner-occupant configuration with a second unit available for rental use. Its duplex format supports separate living spaces within one building, subject to the property’s current construction status.
Located at 10322 & 10324 Chalmer Street in Spring Hill, Florida, the property offers an owner-occupant configuration with a second unit available for rental use. Its duplex format supports separate living spaces within one building, subject to the property’s current construction status.
Key Highlights
- Two‑unit duplex under construction with a 2025 year built
- Each unit contains 1,304 square feet of living area
- 3 bedrooms and 2 bathrooms
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
$29,701
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
5.77%
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%
$594,020
$594.0K
Cap Rate 7%
$424,300
$424.3K
Cap Rate 9%
$330,011
$330.0K
Market Conditions
NOI Build-Up for 2,608 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
$45.4K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$42.4K $16.27/SF
− OpEx
−$12.7K −$4.88/SF
NOI
$29.7K $11.39/SF
Area
Spring Hill, FL
Vacancy
6.50%
Lease Rate
$17.40 /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%
$594,020
Cap Rate 7%
$424,300
Cap Rate 9%
$330,011
Alternative Uses
Best Use
Multifamily LT 5
$424.3K
$371.3K – $495.0K
NOI $29,701 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$393.8K
$344.6K – $459.4K
NOI $27,565 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$833.8K
$729.6K – $972.8K
NOI $58,368 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 34608, FL
34,363
Population
15,253
Households
2.3
Avg Household Size
46
Median Age
20%
College-Educated
90%
High-School Grad
15.2 sq mi
ZIP Area
2,261
Density / Sq Mi
$62,197
Median Household Income
$36,740
Median Earnings
$1,207
Median Rent
$237,400
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?
Duplex - Two separate residences offer a flexible owner-occupant or rental configuration in Spring Hill.
Where is this duplex located?
The property is located at 10322 & 10324 CHALMER STREET Spring Hill, FL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two‑unit duplex under construction with a 2025 year built; Each unit contains 1,304 square feet of living area; 3 bedrooms and 2 bathrooms
