Tampa Heights Triplex
For Sale
$1,449,000
Pending
210 E COLUMBUS Dr 1-3, Tampa, FL 33602
New construction triplex in Historic Tampa Heights with diverse unit mix.
Property Size4,858 SF
Days on Market145
Property Features for 210 E COLUMBUS Dr 1-3
General Information
Standard status
Pending
Size
4,858 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$15,756
Building Details
Building Size
4,858 SF
Year Built
2024
Listing Agency:
KELLER WILLIAMS TAMPA CENTRAL
(813) 365-8765
Listed By:
Kamilla Altunyan · License #SL3333610
(813) 365-8765
Source:
Elliman
Added: Apr 9
Changed: Aug 8
Last Checked: Jul 23 at 6:58AM
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 KELLER WILLIAMS TAMPA CENTRAL
Investment Insights
Based on property information with market context.
This multi-family property, constructed in 2024, is located in the Historic Tampa Heights neighborhood. The triplex features three units, each with a one-car garage. The unit mix includes a four-bedroom unit with 2.5 baths, a three-bedroom unit with 2.5 baths, and a two-bedroom unit with one bath. The property is of block construction. Tampa Heights is located less than a mile from downtown, offering walkable access to Armature Works and the Tampa Riverwalk. The neighborhood is bikeable, with bike paths and lanes throughout. The bike score is 72, indicating it is very bikeable. The walk score is 53, indicating it is somewhat walkable. The transit score is 37, indicating some transit options are available. This property is suitable for investors seeking stable cash flow, house-hackers, or short-term rental investors.
Key Highlights
- New 2024 construction triplex in Historic Tampa Heights.
- Each unit includes a one‑car garage, a rare amenity in urban Tampa.
- Diverse unit mix (4‑bed, 3‑bed, 2‑bed) provides broad tenant appeal and income potential.
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
$56,705
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
3.91%
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%
$1,134,100
$1.1M
Cap Rate 7%
$810,071
$810.1K
Cap Rate 9%
$630,056
$630.1K
Market Conditions
NOI Build-Up for 4,858 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
$86.9K $17.88/SF
− Vacancy
−$5.9K −$1.21/SF
EGI
$81.0K $16.67/SF
− OpEx
−$24.3K −$5.00/SF
NOI
$56.7K $11.67/SF
Area
Tampa, FL
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%
$1,134,100
Cap Rate 7%
$810,071
Cap Rate 9%
$630,056
Alternative Uses
Best Use
Multifamily LT 5
$810.1K
$708.8K – $945.1K
NOI $56,705 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$753.2K
$659.0K – $878.7K
NOI $52,722 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.13M
$990.3K – $1.32M
NOI $79,224 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,145
Businesses Nearby
Explore this area
Business Placement
Demographics for 33602, FL
19,936
Population
11,972
Households
1.7
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
2.6 sq mi
ZIP Area
7,668
Density / Sq Mi
$88,569
Median Household Income
$66,434
Median Earnings
$2,119
Median Rent
$560,400
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?
Triplex - New construction triplex in Historic Tampa Heights with diverse unit mix.
Where is this triplex located?
The property is located at 210 E COLUMBUS Dr 1-3 Tampa, FL.
What is the asking price?
The asking price for this property is $1,449,000.
What are key features of this property?
This property features: New 2024 construction triplex in Historic Tampa Heights.; Each unit includes a one‑car garage, a rare amenity in urban Tampa.; Diverse unit mix (4‑bed, 3‑bed, 2‑bed) provides broad tenant appeal and income potential.
