High-Income Short-Term Rental
For Sale
$2,500,000
13612 N 21ST St, Tampa, FL 33613
Six-unit complex optimized for short-term rentals near Tampa attractions.
Property Size7,176 SF
Days on Market110
Property Features for 13612 N 21ST St
General Information
Standard status
Active
Size
7,176 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$20,811
Building Details
Building Size
7,176 SF
Year Built
2008
Stories
2
Units
6
Listing Agency:
Star Bay Realty Corp
(813) 530-5733
Listed By:
Simmi Mishra · License #3490357
(813) 530-5733
Source:
Elliman
Added: May 12
Changed: Aug 15
Last Checked: Aug 28 at 3:01PM
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 Star Bay Realty Corp
Investment Insights
Based on property information with market context.
This six-unit complex, featuring modern architecture and high-contrast finishes, is optimized for short-term rentals. The property consists of two duplex-style buildings with spacious, multi-level townhouse layouts. Interiors feature durable luxury vinyl flooring, recessed lighting, and modern fixtures. Designed for high occupancy and low-maintenance turnover, each unit generates approximately $8,000 per month. The property includes ample private parking at the rear, accommodating large groups and multiple vehicles. Vinyl privacy fencing, low-maintenance turf, and dedicated courtyard areas enhance guest relaxation. Located in the Tampa growth corridor, the complex is near the University of South Florida (USF), Busch Gardens & Adventure Island, and the Medical District, attracting academics, tourists, and medical professionals. The property is equipped with keyless entry, modern appliances, and weather-resistant landscaping to minimize overhead. The property is intended for use as a short-term rental complex.
Key Highlights
- High Income Potential: $576,000+ potential gross annual income from 6 units.
- Turn‑Key Short‑Term Rental (STR) Operation: Optimized for high occupancy and low‑maintenance turnover.
- Strong Monthly Gross Income: Currently producing approximately $48,000 per month.
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
$83,761
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
3.35%
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%
$1,675,220
$1.7M
Cap Rate 7%
$1,196,586
$1.2M
Cap Rate 9%
$930,678
$930.7K
Market Conditions
NOI Build-Up for 7,176 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
$128.3K $17.88/SF
− Vacancy
−$8.6K −$1.21/SF
EGI
$119.7K $16.67/SF
− OpEx
−$35.9K −$5.00/SF
NOI
$83.8K $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%
$1,675,220
Cap Rate 7%
$1,196,586
Cap Rate 9%
$930,678
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,761 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$1.11M
$973.5K – $1.30M
NOI $77,878 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,026 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,215
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Six-unit complex optimized for short-term rentals near Tampa attractions.
Where is this short term rental property located?
The property is located at 13612 N 21ST St Tampa, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: High Income Potential: $576,000+ potential gross annual income from 6 units.; Turn‑Key Short‑Term Rental (STR) Operation: Optimized for high occupancy and low‑maintenance turnover.; Strong Monthly Gross Income: Currently producing approximately $48,000 per month.
