Triplex Near
For Sale
$440,000
1403 COLLEGE PARK, Tampa, FL 33612
Three-unit income property with varied floor plans, individual electric meters, and shared water, sewer, and trash service.
Property Size1,656 SF
Days on Market13
Property Features for 1403 COLLEGE PARK
General Information
Standard status
Active
Size
1,656 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA, 1 x Efficiency/1BA
Multifamily Units
3
Additional Details
Gross Income
$49,800
Taxes and HOA fees
Annual Taxes
$5,257
Building Details
Building Size
1,656 SF
Year Built
1965
Buildings
1
Units
3
Listing Agency:
Dalton Wade, Inc.
Listed By:
Michael Brule · License #3074964
(813) 417-1260
Source:
Elliman
Added: Sep 2
Changed: Sep 12
Last Checked: Sep 13 at 7:45AM
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 Dalton Wade, Inc.
Investment Insights
Based on property information with market context.
This 1965 triplex includes three distinct residences: a 3-bedroom, 1-bath middle unit with solid block construction, central A/C, and an in-unit washer and dryer; a 1-bedroom, 1-bath right-side unit; and an efficiency with 1 bath. The latter two units are frame construction and use window A/C. The property information identifies all three units as leased, with a combined monthly rent of $4,150 excluded from this description under listing policy.
Located at 1403 College Park in Tampa, the property is near the University of South Florida, shopping, dining, public transit, and I-275. Walk Score is 52, Bike Score is 64, and Transit Score is 41. Water, sewer, and trash service are handled through the association, while each residence has a separate electric meter.
Located at 1403 College Park in Tampa, the property is near the University of South Florida, shopping, dining, public transit, and I-275. Walk Score is 52, Bike Score is 64, and Transit Score is 41. Water, sewer, and trash service are handled through the association, while each residence has a separate electric meter.
Key Highlights
- Three‑unit triplex at 1403 COLLEGE PARK, Tampa, FL 33612
- Unit mix includes 3 Bed / 1 Bath, 1 Bed / 1 Bath, and Efficiency / 1 Bath residences
- Built in 1965 with solid block and frame construction across the units
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
$19,330
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
4.39%
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%
$386,600
$386.6K
Cap Rate 7%
$276,143
$276.1K
Cap Rate 9%
$214,778
$214.8K
Market Conditions
NOI Build-Up for 1,656 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
$29.6K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.6K $16.67/SF
− OpEx
−$8.3K −$5.00/SF
NOI
$19.3K $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%
$386,600
Cap Rate 7%
$276,143
Cap Rate 9%
$214,778
Alternative Uses
Best Use
Multifamily LT 5
$276.1K
$241.6K – $322.2K
NOI $19,330 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$256.7K
$224.7K – $299.5K
NOI $17,972 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$377.2K
$330.1K – $440.1K
NOI $26,406 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,471
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Three-unit income property with varied floor plans, individual electric meters, and shared water, sewer, and trash service.
Where is this triplex located?
The property is located at 1403 COLLEGE PARK Tampa, FL.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Three‑unit triplex at 1403 COLLEGE PARK, Tampa, FL 33612; Unit mix includes 3 Bed / 1 Bath, 1 Bed / 1 Bath, and Efficiency / 1 Bath residences; Built in 1965 with solid block and frame construction across the units
