Tenant-Occupied Duplex
For Sale
Contact for pricing
1210 E 140TH AVE, Tampa, FL 33613
Two income-producing units are leased month-to-month, with a roof replacement in 2016 and interior renovation upside.
Property Size1,323 SF
Price / SF$226
Days on Market86
Property Features for 1210 E 140TH AVE
General Information
Standard status
Active
Size
1,323 SF
Class
C
Property subtype
Multifamily
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$19,300
Additional Details
Cap Rate
6%
Multifamily Units
2
Building Details
Year Built
1969
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Mcbride Kelly & Associates Llc
Listed By:
Brian Mcbride · License #bk3014081
(813) 493-0507
Source:
Crexi
Added: Jun 17
Changed: Aug 27
Last Checked: Sep 10 at 8:18AM
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 Mcbride Kelly & Associates Llc
Investment Insights
Based on property information with market context.
1210 E 140th Ave is a tenant-occupied duplex for sale featuring two separate units. Unit A is a 2-bedroom, 1-bath home currently rented at $1,300 per month on a month-to-month lease. Unit B is a 1-bedroom, 1-bath home currently rented at $1,000 per month on a month-to-month lease, with tenants indicating they intend to stay. The property is being sold strictly AS-IS, and the seller will make no repairs.
The duplex includes two separate electric meters with tenant-paid electric and one shared water meter with owner-paid water averaging approximately $100 per month. Reported major updates include a roof replacement in 2016 and central AC in Unit A replaced in 2016, while Unit B currently uses window units.
Both units provide renovation upside through interior improvements, with Unit A featuring newer cabinetry and stainless steel appliances, and Unit B having had some bathroom improvements completed. The property is noted to be operating at an approximate 6% cap rate based on current in-place income and estimated operating expenses.
The duplex includes two separate electric meters with tenant-paid electric and one shared water meter with owner-paid water averaging approximately $100 per month. Reported major updates include a roof replacement in 2016 and central AC in Unit A replaced in 2016, while Unit B currently uses window units.
Both units provide renovation upside through interior improvements, with Unit A featuring newer cabinetry and stainless steel appliances, and Unit B having had some bathroom improvements completed. The property is noted to be operating at an approximate 6% cap rate based on current in-place income and estimated operating expenses.
Key Highlights
- Tenant‑occupied duplex in Tampa with 2BR/1BA Unit A and 1BR/1BA Unit B on month‑to‑month leases
- Unit A rented for $1,300/month and Unit B rented for $1,000/month (in‑place income basis for an approximate 6% cap rate)
- Estimated post‑renovation rents: about $1,600/month for the 2/1 and $1,300–$1,400/month for the 1/1
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
$15,443
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
5.16%
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%
$308,860
$308.9K
Cap Rate 7%
$220,614
$220.6K
Cap Rate 9%
$171,589
$171.6K
Market Conditions
NOI Build-Up for 1,323 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
$23.7K $17.88/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$22.1K $16.67/SF
− OpEx
−$6.6K −$5.00/SF
NOI
$15.4K $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%
$308,860
Cap Rate 7%
$220,614
Cap Rate 9%
$171,589
Alternative Uses
Best Use
Multifamily LT 5
$220.6K
$193.0K – $257.4K
NOI $15,443 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$205.1K
$179.5K – $239.3K
NOI $14,358 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$308.2K
$269.7K – $359.6K
NOI $21,575 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Explore this area
Business Placement
Demographics for 33613, FL
38,801
Population
17,686
Households
2.2
Avg Household Size
30
Median Age
29%
College-Educated
84%
High-School Grad
7.4 sq mi
ZIP Area
5,243
Density / Sq Mi
$44,642
Median Household Income
$30,911
Median Earnings
$1,178
Median Rent
$219,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two income-producing units are leased month-to-month, with a roof replacement in 2016 and interior renovation upside.
Where is this duplex located?
The property is located at 1210 E 140TH AVE Tampa, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Tenant‑occupied duplex in Tampa with 2BR/1BA Unit A and 1BR/1BA Unit B on month‑to‑month leases; Unit A rented for $1,300/month and Unit B rented for $1,000/month (in‑place income basis for an approximate 6% cap rate); Estimated post‑renovation rents: about $1,600/month for the 2/1 and $1,300–$1,400/month for the 1/1
