7-Unit Gated Townhome
For Sale
$1,325,000
12216 N 59th St, Tampa, FL 33617
Seven fully occupied townhome-style units feature gated access, a community pool, and reserved parking.
Property Size7,072 SF
Price / SF$187.36
Days on Market71
Property Features for 12216 N 59th St
General Information
Standard status
Active
Size
7,072 SF
Additional Details
Furnished
Yes
Building Details
Year Built
1984
Listing Agency:
TGG Home Authority LLC
Listed By:
Russell Lenard Goldstein
(561) 503-3648
Source:
Thepennteam
Added: Jul 7
Changed: Sep 8
Last Checked: Sep 14 at 3:21PM
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 TGG Home Authority LLC
Investment Insights
Based on property information with market context.
This offering is a fully occupied, 7-unit townhome-style community with gated access. The property features updated units, reserved parking, and a community pool, an amenity noted as uncommon for a 7-unit community.
The community includes units that are individually deeded, with four units currently fully furnished and operated as vacation rentals/Airbnb. The sale also includes a 0.40-acre parcel located behind the property.
The property is described as being less than 2 miles from University of South Florida, AdventHealth Hospital Tampa, VA Medical Center, and Moffitt Cancer Center, supporting a broad mix of local employment and education demand. It is also described as close to local retail, dining, hospitality, office uses, and Busch Gardens of Tampa Bay.
The community includes units that are individually deeded, with four units currently fully furnished and operated as vacation rentals/Airbnb. The sale also includes a 0.40-acre parcel located behind the property.
The property is described as being less than 2 miles from University of South Florida, AdventHealth Hospital Tampa, VA Medical Center, and Moffitt Cancer Center, supporting a broad mix of local employment and education demand. It is also described as close to local retail, dining, hospitality, office uses, and Busch Gardens of Tampa Bay.
Key Highlights
- 7 fully occupied townhome‑style rental units in a gated community
- Year built: 1984
- Community pool and reserved parking for residents
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
$76,749
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
5.79%
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%
$1,534,980
$1.5M
Cap Rate 7%
$1,096,414
$1.1M
Cap Rate 9%
$852,767
$852.8K
Market Conditions
NOI Build-Up for 7,072 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
$150.2K $21.24/SF
− Vacancy
−$10.7K −$1.51/SF
EGI
$139.5K $19.73/SF
− OpEx
−$62.8K −$8.88/SF
NOI
$76.7K $10.85/SF
Area
Tampa, FL
Vacancy
7.10%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
45.00%
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%
$1,534,980
Cap Rate 7%
$1,096,414
Cap Rate 9%
$852,767
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$959.4K – $1.28M
NOI $76,749 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,330 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,067
Businesses Nearby
Explore this area
Business Placement
Demographics for 33617, FL
48,267
Population
21,912
Households
2.2
Avg Household Size
33
Median Age
29%
College-Educated
89%
High-School Grad
8.8 sq mi
ZIP Area
5,485
Density / Sq Mi
$48,651
Median Household Income
$33,710
Median Earnings
$1,337
Median Rent
$267,200
Median Home Value
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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?
Apartment building - Seven fully occupied townhome-style units feature gated access, a community pool, and reserved parking.
Where is this apartment building located?
The property is located at 12216 N 59th St Tampa, FL.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 7 fully occupied townhome‑style rental units in a gated community; Year built: 1984; Community pool and reserved parking for residents
