New 6-Unit Townhome
For Sale
Contact for pricing
2019 E Genesee Street, Tampa, FL 33610
Newly constructed six-unit townhome community with modern multi-level layouts and three-bedroom, three-bath residences.
Property Size7,800 SF
Price / SF$320.51
Days on Market95
Property Features for 2019 E Genesee Street
General Information
Standard status
Active
Size
7,800 SF
Class
A
Property subtype
Multifamily
Zoning
Multi-Family
Investment Type
Owner/User
Additional Details
Multifamily Units
6
Building Details
Year Built
2026
Buildings
1
Stories
2
Units
6
Tenancy
Multi
Listing Agency:
Gulf Atlantic Realty
Listed By:
Joe Gibbons · License #FL
Source:
Crexi
Added: Jun 3
Changed: Aug 26
Last Checked: Aug 31 at 9:41PM
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 Gulf Atlantic Realty
Investment Insights
Based on property information with market context.
This new construction property is a six-unit townhome community featuring contemporary architectural elevations. Each residence is designed with flexible multi-level floor plans and open-concept kitchen and living areas. The townhomes include three bedrooms and three baths, providing a consistent unit mix across the community.
The development is located at 2019 E Genesee Street in Tampa, Florida. The offering is specifically presented as a townhome community built by Gulf Bay Builders, with modern design elements intended for both homeowners and investors.
For buyers looking at a small multifamily income strategy or a managed residential investment, the uniform layout and three-bedroom, three-bath configuration can simplify positioning and operations compared with a more varied building mix. For owner-occupants, the property provides modern, multi-level townhome living within a dedicated six-unit community setting.
The development is located at 2019 E Genesee Street in Tampa, Florida. The offering is specifically presented as a townhome community built by Gulf Bay Builders, with modern design elements intended for both homeowners and investors.
For buyers looking at a small multifamily income strategy or a managed residential investment, the uniform layout and three-bedroom, three-bath configuration can simplify positioning and operations compared with a more varied building mix. For owner-occupants, the property provides modern, multi-level townhome living within a dedicated six-unit community setting.
Key Highlights
- New construction 6‑unit townhome community at 2019 E Genesee Street in Tampa, Florida
- Year built: 2026
- Each townhome features flexible multi‑level floor plans with open‑concept kitchen and living areas
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
$79,389
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
3.18%
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%
$1,587,780
$1.6M
Cap Rate 7%
$1,134,129
$1.1M
Cap Rate 9%
$882,100
$882.1K
Market Conditions
NOI Build-Up for 7,800 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
$155.4K $19.92/SF
− Vacancy
−$11.0K −$1.41/SF
EGI
$144.3K $18.51/SF
− OpEx
−$65.0K −$8.33/SF
NOI
$79.4K $10.18/SF
Area
ZIP 33610
Vacancy
7.10%
Lease Rate
$19.92 /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%
$1,587,780
Cap Rate 7%
$1,134,129
Cap Rate 9%
$882,100
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$992.4K – $1.32M
NOI $79,389 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,929 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 33610, FL
45,218
Population
17,995
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
82%
High-School Grad
18.0 sq mi
ZIP Area
2,512
Density / Sq Mi
$49,765
Median Household Income
$34,773
Median Earnings
$1,307
Median Rent
$210,600
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 - Newly constructed six-unit townhome community with modern multi-level layouts and three-bedroom, three-bath residences.
Where is this apartment building located?
The property is located at 2019 E Genesee Street Tampa, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: New construction 6‑unit townhome community at 2019 E Genesee Street in Tampa, Florida; Year built: 2026; Each townhome features flexible multi‑level floor plans with open‑concept kitchen and living areas
