Renovated Duplex with Separate
New
For Sale
$354,900
2313 E 111TH AVE, Tampa, FL 33612
Flexible residential layout with an apartment, private-entry bedroom suite, updated bathrooms, and central air conditioning.
Property Size1,200 SF
Price / SF$295.75
Days on Market7
Property Features for 2313 E 111TH AVE
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Amenities
central air conditioning
stainless steel appliances
0.15 acres
Metal
Public Sewer
Additional parcels description:, Parcel Number: A-17-28-19-437-000003-00009.0, Public Survey Range: 19, Public Survey Section: 17, Annual Amount: $2,427, Tax Block: 3, Tax Book Number: 34-44, Legal Description: SHERWOOD HEIGHTS UNIT NO 1 LOT 9 BLOCK 3, Lot: 9, Year: 2025, Zoning: RS-60
Ceramic Tile
Central Air
Central, Electric
Laundry Room
Listing ID: MFRTB8545486, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-09-04, 1 day on market, Special Conditions: None
Elementary School: Witter-HB, Middle School: Dr Carter G Woodson K-8, High School: Wharton-HB
5 total bedrooms
Built in 1959, Living area: 1200, Living area units: Square Feet, Levels: One, Construction Materials: Block, Concrete
Subdivision: SHERWOOD HEIGHTS UNIT 1, MLS Area (Major): 33612 - Tampa / Forest Hills, County/Parish: Hillsborough
6 total bathrooms
BB/HS Internet Available, Public, Water Source: Public
Concrete Perimeter
Road Surface: Asphalt
Private Entrance, Private Yard, Storage
Ceiling Fans(s), Thermostat
Electric Water Heater, Microwave, Range, Refrigerator, Other equipment: Private Entrance, Private Yard
Building Details
Year Built
1959
Listing Agency:
MARTINEZ 2 & ASSOCIATES OF FLO
(813) 431-8785
Listed By:
Yanitsia Rodriguez Abreus · License #3438409
(770) 568-1860
Source:
Miharaandassociates
Added: Sep 4
Changed: Sep 9
Last Checked: Sep 10 at 5:16AM
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 MARTINEZ 2 & ASSOCIATES OF FLO
Investment Insights
Based on property information with market context.
This duplex in Tampa’s Sherwood Heights, Unit 1 subdivision contains 4 bedrooms and 3 bathrooms within a 1,200-square-foot property built in 1959. The main residence includes two bedrooms and one full bathroom, while an additional apartment provides one bedroom and one bathroom. A separate bedroom with its own entrance and bathroom adds another private living area. Additional living space was created in the former carport, expanding the property’s configuration for household use or rental arrangements.
Interior features include a kitchen with stainless steel appliances, renovated bathrooms, and central air conditioning throughout the home. The property is near the University of South Florida, USF Health, I-275, Busch Gardens Tampa Bay, shopping, dining, parks, and entertainment. The address is 2313 E 111th Ave, Tampa, FL 33612.
Interior features include a kitchen with stainless steel appliances, renovated bathrooms, and central air conditioning throughout the home. The property is near the University of South Florida, USF Health, I-275, Busch Gardens Tampa Bay, shopping, dining, parks, and entertainment. The address is 2313 E 111th Ave, Tampa, FL 33612.
Key Highlights
- Duplex with 4 bedrooms and 3 bathrooms
- 1,200‑square‑foot property built in 1959
- Main residence includes 2 bedrooms and 1 full bathroom
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
$14,007
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
3.95%
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%
$280,140
$280.1K
Cap Rate 7%
$200,100
$200.1K
Cap Rate 9%
$155,633
$155.6K
Market Conditions
NOI Build-Up for 1,200 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
$21.5K $17.88/SF
− Vacancy
−$1.4K −$1.21/SF
EGI
$20.0K $16.67/SF
− OpEx
−$6.0K −$5.00/SF
NOI
$14.0K $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%
$280,140
Cap Rate 7%
$200,100
Cap Rate 9%
$155,633
Alternative Uses
Best Use
Multifamily LT 5
$200.1K
$175.1K – $233.5K
NOI $14,007 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$186.0K
$162.8K – $217.1K
NOI $13,023 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$273.4K
$239.2K – $318.9K
NOI $19,135 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,336
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Flexible residential layout with an apartment, private-entry bedroom suite, updated bathrooms, and central air conditioning.
Where is this duplex located?
The property is located at 2313 E 111TH AVE Tampa, FL.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: Duplex with 4 bedrooms and 3 bathrooms; 1,200‑square‑foot property built in 1959; Main residence includes 2 bedrooms and 1 full bathroom
