Updated Triplex with Outdoor
For Sale
$880,000
1035 E ROBSON St, Tampa, FL 33604
Three independent residences share landscaped outdoor spaces, separate access points, and updated kitchens and baths.
Property Size2,308 SF
Days on Market130
Property Features for 1035 E ROBSON St
General Information
Standard status
Active
Size
2,308 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,608
Building Details
Building Size
2,308 SF
Year Built
1926
Listing Agency:
(813) 625-6520
Listed By:
Chib Anderson · License #3103948
(813) 625-6520
Source:
Elliman
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 30 at 10:13PM
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 Chib Anderson
Investment Insights
Based on property information with market context.
This 1926 triplex offers three distinct residences, each with its own entrance and kitchen. The property includes a two-bedroom, two-bath upper unit; a one-bedroom, one-bath apartment; and a separate lower residence with a private screened porch, updated kitchen, primary suite, dressing room, and laundry. Restored hardwood floors and trim retain historic character, while updated kitchens and bathrooms support current occupancy. Appliances, including washers and dryers, are included.
Outdoor improvements create substantial shared amenity space, including a brick courtyard, landscaped gardens, covered kitchen, gazebo, outdoor bathroom, screened porch areas, and a porte cochere. The property also features a whole-home generator, tankless water heaters, natural gas service with 2 meters, 4 independent electric meters, a wired security system, 180’ well, zoned irrigation, water softener, and a parking lot. It occupies 1.5 lots and carries SH-RS zoning. The address is 1035 E ROBSON St, Tampa, FL 33604, with a Walk Score of 66, BikeScore of 54, and TransitScore of 37.
Outdoor improvements create substantial shared amenity space, including a brick courtyard, landscaped gardens, covered kitchen, gazebo, outdoor bathroom, screened porch areas, and a porte cochere. The property also features a whole-home generator, tankless water heaters, natural gas service with 2 meters, 4 independent electric meters, a wired security system, 180’ well, zoned irrigation, water softener, and a parking lot. It occupies 1.5 lots and carries SH-RS zoning. The address is 1035 E ROBSON St, Tampa, FL 33604, with a Walk Score of 66, BikeScore of 54, and TransitScore of 37.
Key Highlights
- Three separate residences: 2‑bedroom/2‑bath, 1‑bedroom/1‑bath, and a lower unit with primary suite
- 1926 construction with restored hardwood floors and trim plus updated kitchens and baths
- 1.5 lots zoned SH‑RS (Seminole Heights Residential Single Family)
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
$26,940
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
3.06%
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%
$538,800
$538.8K
Cap Rate 7%
$384,857
$384.9K
Cap Rate 9%
$299,333
$299.3K
Market Conditions
NOI Build-Up for 2,308 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
$41.3K $17.88/SF
− Vacancy
−$2.8K −$1.21/SF
EGI
$38.5K $16.67/SF
− OpEx
−$11.5K −$5.00/SF
NOI
$26.9K $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%
$538,800
Cap Rate 7%
$384,857
Cap Rate 9%
$299,333
Alternative Uses
Best Use
Multifamily LT 5
$384.9K
$336.8K – $449.0K
NOI $26,940 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$357.8K
$313.1K – $417.5K
NOI $25,048 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$537.7K
$470.5K – $627.3K
NOI $37,639 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
783
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three independent residences share landscaped outdoor spaces, separate access points, and updated kitchens and baths.
Where is this triplex located?
The property is located at 1035 E ROBSON St Tampa, FL.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Three separate residences: 2‑bedroom/2‑bath, 1‑bedroom/1‑bath, and a lower unit with primary suite; 1926 construction with restored hardwood floors and trim plus updated kitchens and baths; 1.5 lots zoned SH‑RS (Seminole Heights Residential Single Family)
