72-Unit Multifamily Housing
For Sale
Contact for pricing
13036 Kain Palms Ct, Tampa, FL 33612
72-unit multifamily complex offers a mix of one-, two-, and three-bedroom renovated units.
Property Size80,400 SF
Price / SF$211.44
Days on Market160
Property Features for 13036 Kain Palms Ct
General Information
Standard status
Active
Size
80,400 SF
Class
B
Total Parking Spaces
110
Property subtype
Multifamily
Zoning
3801 MULTI-FAMILY MED DENSITY
Occupancy
96%
Investment Type
Value Add
Net Operating Income
$1,318,000
Building Details
Year Built
1974
Year Renovated
2024
Buildings
6
Stories
3
Units
72
Listing Agency:
Manny Chamizo #1 Sotheby's Commercial Broker
Listed By:
Manny Chamizo · License #0479698
(786) 486-6655
Source:
Crexi
Added: Mar 30
Changed: Aug 21
Last Checked: Sep 5 at 4:17PM
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 Manny Chamizo #1 Sotheby's Commercial Broker
Investment Insights
Based on property information with market context.
This is a 72-unit multifamily housing complex featuring a unit mix of 12 one-bedroom, 12 two-bedroom, and 48 three-bedroom units. The property is described as stabilized and underwent renovations of $10,000 per unit, including upgrades to the classic units and repainting the exterior of the building. The existing mix includes 12 one-bed/one-bath, 12 two-bed/one-and-a-half-bath, and 48 three-bed/two-bath apartments.
The property is located in the Uptown Tampa Innovation District and is less than 1 mile from the University of South Florida (USF) Tampa campus. It is also adjacent to multiple large employers, including Advent Health Tampa, Florida State University, and the James A. Haley VA Hospital.
For buyers or operators seeking a diversified apartment mix, the current configuration is weighted toward larger three-bedroom units, which may appeal to households looking for additional space.
The property is located in the Uptown Tampa Innovation District and is less than 1 mile from the University of South Florida (USF) Tampa campus. It is also adjacent to multiple large employers, including Advent Health Tampa, Florida State University, and the James A. Haley VA Hospital.
For buyers or operators seeking a diversified apartment mix, the current configuration is weighted toward larger three-bedroom units, which may appeal to households looking for additional space.
Key Highlights
- 72‑unit multifamily complex in the Uptown Tampa Innovation District
- Unit mix: 12 one‑bedroom, 12 two‑bedroom, and 48 three‑bedroom units
- Renovations include $10,000 per unit for upgrades, plus exterior repainting
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
$872,547
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
5.13%
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%
$17,450,940
$17.5M
Cap Rate 7%
$12,464,957
$12.5M
Cap Rate 9%
$9,694,967
$9.7M
Market Conditions
NOI Build-Up for 80,400 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
$1.71M $21.24/SF
− Vacancy
−$121.2K −$1.51/SF
EGI
$1.59M $19.73/SF
− OpEx
−$713.9K −$8.88/SF
NOI
$872.5K $10.85/SF
Area
ZIP 33612
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%
$17,450,940
Cap Rate 7%
$12,464,957
Cap Rate 9%
$9,694,967
Alternative Uses
Best Use
Apartment 5plus
$12.46M
$10.91M – $14.54M
NOI $872,547 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.31M
$16.03M – $21.37M
NOI $1,282,026 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,332
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?
Apartment building - 72-unit multifamily complex offers a mix of one-, two-, and three-bedroom renovated units.
Where is this apartment building located?
The property is located at 13036 Kain Palms Ct Tampa, FL.
What is the asking price?
The asking price for this property is $17,000,000.
What are key features of this property?
This property features: 72‑unit multifamily complex in the Uptown Tampa Innovation District; Unit mix: 12 one‑bedroom, 12 two‑bedroom, and 48 three‑bedroom units; Renovations include $10,000 per unit for upgrades, plus exterior repainting
