Building Details

Year Built 1935

Buildings 1

Stories 2

Units 1

Listed By: Eddie Serralles Show Phone

Added: Apr 3 Changed: Apr 8

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Investment Insights

Based on property information with market context.

Located in West Tampa, this property features a 1,628 square foot home situated on three lots. Zoned RM-16, the site offers potential for redevelopment or multi-unit possibilities. The property benefits from public utilities and convenient access to major roads. The property is being sold as-is and includes the work needed building plus two additional lots.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,056

Cap Rate

3.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$401,120 $401.1K

Cap Rate 7%

$286,514 $286.5K

Cap Rate 9%

$222,844 $222.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,848 SF

Gross rent

$39.3K $21.24/SF

− Vacancy

−$2.8K −$1.51/SF

EGI

$36.5K $19.73/SF

− OpEx

−$16.4K −$8.88/SF

NOI

$20.1K $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 Rate 5%

$401,120

Cap Rate 7%

$286,514

Cap Rate 9%

$222,844

Alternative Uses

Best Use

Apartment 5plus

$286.5K

$250.7K – $334.3K (±1% cap)

NOI $20,056 @ 7.0% cap · market cap 3.65%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$430.5K

$376.7K – $502.3K (±1% cap)

NOI $30,137 @ 7.0% cap · market cap 5.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Location Intelligence

Trade Area within ½ mile

1,228

Businesses Nearby

Explore this area Business Placement

Demographics for 33607, FL

24,767

Population

13,158

Households

1.9

Avg Household Size

37

Median Age

35%

College-Educated

87%

High-School Grad

9.3 sq mi

ZIP Area

2,663

Density / Sq Mi

$66,404

Median Household Income

$43,404

Median Earnings

$1,771

Median Rent

$316,100

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - Armenia

Where is this residential income property located?

The property is located at 1905 Armenia Ave Tampa, FL.

What is the asking price?

The asking price for this property is $549,000.