Block Duplex with Separate
For Sale
Contact for pricing
Pending
1203 E Annie St, Tampa, FL 33612
Two-unit property on a corner lot with individually separated entrances and utility meters.
Property Size1,238 SF
Days on Market136
Property Features for 1203 E Annie St
General Information
Standard status
Pending
Size
1,238 SF
Property subtype
Multifamily
Zoning
RS50
Occupancy
50%
Investment Type
Value Add
Additional Details
Opportunity Zone
Yes
Multifamily Units
2
Building Details
Buildings
1
Stories
1
Construction
block
Listing Agency:
Tomlin Commercial Real Estate Services
Listed By:
Lynn Love · License #FL
Source:
Crexi
Added: Apr 20
Changed: Sep 2
Last Checked: Sep 1 at 4:14AM
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 Tomlin Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This 1,238-square-foot duplex is constructed with solid block and positioned on a corner lot. Each unit has its own entrance and separately metered utilities, supporting direct tenant billing. The configuration provides clear physical separation between the two residences.
Recent improvements include air-conditioning work in Unit A and installation of a new concrete driveway. The property is designated RS50 and located within an Opportunity Zone at 1203 E Annie St in Tampa, Florida.
Recent improvements include air-conditioning work in Unit A and installation of a new concrete driveway. The property is designated RS50 and located within an Opportunity Zone at 1203 E Annie St in Tampa, Florida.
Key Highlights
- 1,238‑square‑foot true duplex on a corner lot
- Solid block construction for simplified maintenance
- Separate entrances and utility meters for each unit
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
$14,450
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
4.14%
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%
$289,000
$289.0K
Cap Rate 7%
$206,429
$206.4K
Cap Rate 9%
$160,556
$160.6K
Market Conditions
NOI Build-Up for 1,238 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
$22.1K $17.88/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$20.6K $16.67/SF
− OpEx
−$6.2K −$5.00/SF
NOI
$14.5K $11.67/SF
Area
ZIP 33612
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%
$289,000
Cap Rate 7%
$206,429
Cap Rate 9%
$160,556
Alternative Uses
Best Use
Multifamily LT 5
$206.4K
$180.6K – $240.8K
NOI $14,450 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$191.9K
$167.9K – $223.9K
NOI $13,435 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$282.0K
$246.8K – $329.0K
NOI $19,741 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
Business Placement
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
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-unit property on a corner lot with individually separated entrances and utility meters.
Where is this duplex located?
The property is located at 1203 E Annie St Tampa, FL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 1,238‑square‑foot true duplex on a corner lot; Solid block construction for simplified maintenance; Separate entrances and utility meters for each unit
