Tenant-Occupied
For Sale
$270,000
Pending
10022 N LANTANA AVENUE, Tampa, FL 33612
Two residential units feature recently refreshed exteriors, newer roofing, and separate mini-split systems.
Property Size840 SF
Days on Market521
Property Features for 10022 N LANTANA AVENUE
General Information
Standard status
Pending
Size
840 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,680
Building Details
Year Built
1970
Listing Agency:
COASTAL PROPERTIES GROUP INTER
(813) 486-9286
Listed By:
Jenna Utley · License #3146933
(813) 486-9286
Source:
Exitrealty
Added: Mar 31, 2025
Changed: Aug 31
Last Checked: Sep 1 at 5:03PM
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 COASTAL PROPERTIES GROUP INTER
Investment Insights
Based on property information with market context.
This Tampa duplex contains two residential units within an 840-square-foot property built in 1970. Both units are tenant occupied, providing an established occupancy profile for the next owner. Recent physical updates include a newer roof, refreshed exterior paint, and new mini-split systems serving each unit.
The property is located at 10022 N Lantana Avenue, with access to major roadways as well as nearby grocery stores, shopping, and eateries. Its two-unit configuration and recent exterior and mechanical updates define the primary property features.
The property is located at 10022 N Lantana Avenue, with access to major roadways as well as nearby grocery stores, shopping, and eateries. Its two-unit configuration and recent exterior and mechanical updates define the primary property features.
Key Highlights
- Two‑unit duplex with both units tenant occupied
- 840‑square‑foot property built in 1970
- New mini‑split systems installed in each unit
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
$9,805
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
3.63%
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%
$196,100
$196.1K
Cap Rate 7%
$140,071
$140.1K
Cap Rate 9%
$108,944
$108.9K
Market Conditions
NOI Build-Up for 840 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
$15.0K $17.88/SF
− Vacancy
−$1.0K −$1.21/SF
EGI
$14.0K $16.67/SF
− OpEx
−$4.2K −$5.00/SF
NOI
$9.8K $11.67/SF
Area
ZIP 33612
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%
$196,100
Cap Rate 7%
$140,071
Cap Rate 9%
$108,944
Alternative Uses
Best Use
Multifamily LT 5
$140.1K
$122.6K – $163.4K
NOI $9,805 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$130.2K
$114.0K – $151.9K
NOI $9,116 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$191.3K
$167.4K – $223.2K
NOI $13,394 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
642
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?
Duplex - Two residential units feature recently refreshed exteriors, newer roofing, and separate mini-split systems.
Where is this duplex located?
The property is located at 10022 N LANTANA AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑unit duplex with both units tenant occupied; 840‑square‑foot property built in 1970; New mini‑split systems installed in each unit
