Multifamily Property with
New
For Sale
$875,000
13042 TARPON SPRINGS ROAD, Odessa, FL 33556
Multiple residential spaces include a separate apartment, shared outdoor space, and parking.
Property Size5,675 SF
Lot Size2.00 Acres
Price / SF$154.19
Days on Market5
Property Features for 13042 TARPON SPRINGS ROAD
General Information
Standard status
Active
Size
5,675 SF
Lot size
2.00 Acres
Property subtype
Assembly Building
Units
Unit Mix
1 x 5BR/2BA, 1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Road Access
Yes
Amenities
shared courtyard
2 acres
Additional parcels description:, Parcel Number: U-18-27-17-001-000000-13210.0, Public Survey Range: 17, Public Survey Section: 18, Annual Amount: $13,025.5, Tax Block: 001, Tax Book Number: 5-55, Legal Description: KEYSTONE PARK COLONY N 347 FT OF W 1/2 OF TRACT 7 IN NW 1/4 LESS THAT PART LYING N OF SOUTHERN R/W LINE OF TARPON SPRINGS LAKE FERN RD, Lot: 1, Year: 2025, Zoning: AR
Central Air
Listing ID: MFRTB8558348, Standard Status: Active, MLS Status: Active, Property Subtype: Assembly Building, On market as of 2026-10-20, 1 day on market, Special Conditions: None
Built in 1963, Living area: 5675, Living area units: Square Feet, 1 storey, Construction Materials: Block
Subdivision: KEYSTONE PARK COLONY SUB, MLS Area (Major): 33556 - Odessa, County/Parish: Hillsborough
Other structures: Storage
Water Source: Private
Slab
Frontage Type: Main Throrughfare, Road Surface: Asphalt
Building Details
Year Built
1963
Buildings
2
Listing Agency:
WEICHERT REALTORS EXCLUSIVE PROPERTIES
(813) 426-2669
Listed By:
Christopher Webb · License #3297375
Source:
Miharaandassociates
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 4:21PM
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 WEICHERT REALTORS EXCLUSIVE PROPERTIES
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Investment Insights
Based on property information with market context.
This Odessa property spans approximately 2 acres and includes a 5-bedroom, 2-bath main residence, a separate 3-bedroom, 2-bath building, and a 1-bedroom, 1-bath apartment. A shared courtyard and ample parking serve the property’s multiple living spaces.
The address is 13042 Tarpon Springs Road in Odessa, with access to Tampa, Lutz, Land O’ Lakes, and nearby Tampa Bay communities.
The address is 13042 Tarpon Springs Road in Odessa, with access to Tampa, Lutz, Land O’ Lakes, and nearby Tampa Bay communities.
Key Highlights
- Approximately 2 acres in Odessa
- Main residence with 5 bedrooms and 2 bathrooms
- Separate building with 3 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,194
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,043,880
$1.0M
Cap Rate 7%
$745,629
$745.6K
Cap Rate 9%
$579,933
$579.9K
Market Conditions
NOI Build-Up for 5,675 SF
Gross rent
$102.2K $18.00/SF
− Vacancy
−$7.3K −$1.28/SF
EGI
$94.9K $16.72/SF
− OpEx
−$42.7K −$7.52/SF
NOI
$52.2K $9.20/SF
Area
Hillsborough County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,043,880
Cap Rate 7%
$745,629
Cap Rate 9%
$579,933
Alternative Uses
Best Use
Apartment 5plus
$745.6K
$652.4K – $869.9K
NOI $52,194 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,047 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
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Business Placement
Demographics for 33556, FL
30,547
Population
12,333
Households
2.5
Avg Household Size
42
Median Age
55%
College-Educated
97%
High-School Grad
60.3 sq mi
ZIP Area
507
Density / Sq Mi
$151,034
Median Household Income
$71,711
Median Earnings
$1,744
Median Rent
$589,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multiple residential spaces include a separate apartment, shared outdoor space, and parking.
Where is this multifamily property located?
The property is located at 13042 TARPON SPRINGS ROAD Odessa, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Approximately 2 acres in Odessa; Main residence with 5 bedrooms and 2 bathrooms; Separate building with 3 bedrooms and 2 bathrooms
