Building Details

Building Size 1,002 SF

Year Built 1951

Listing Agency: RICHARD PETERS REALTY LLC

Listed By: Alexander Izikson · License #3590476 Show Phone

Source: Seriannirealestate

Added: Apr 24 Changed: Oct 31 Last Checked: Oct 31 at 4:09AM

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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 RICHARD PETERS REALTY LLC

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,696

Cap Rate

2.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$233,920 $233.9K

Cap Rate 7%

$167,086 $167.1K

Cap Rate 9%

$129,956 $130.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,002 SF

Gross rent

$17.9K $17.88/SF

− Vacancy

−$1.2K −$1.21/SF

EGI

$16.7K $16.67/SF

− OpEx

−$5.0K −$5.00/SF

NOI

$11.7K $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 Rate 5%

$233,920

Cap Rate 7%

$167,086

Cap Rate 9%

$129,956

Alternative Uses

Best Use

Multifamily LT 5

$167.1K

$146.2K – $194.9K (±1% cap)

NOI $11,696 @ 7.0% cap · market cap 2.92%

Second Best

Apartment 5plus

$155.3K

$135.9K – $181.2K (±1% cap)

NOI $10,874 @ 7.0% cap · market cap 2.72%

Theoretical Best

Office A

$233.4K

$204.3K – $272.4K (±1% cap)

NOI $16,341 @ 7.0% cap · market cap 4.09%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Suggested Use

Top Pick Florist Nursing Home Pet Grooming Service Fish Market Locksmith Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,281

Businesses Nearby

Explore this area Business Placement

Demographics for 33609, FL

17,902

Population

9,169

Households

2

Avg Household Size

38

Median Age

63%

College-Educated

94%

High-School Grad

4.0 sq mi

ZIP Area

4,476

Density / Sq Mi

$105,083

Median Household Income

$66,567

Median Earnings

$1,818

Median Rent

$526,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

Where is this duplex located?

The property is located at 2801 W CLEVELAND ST Tampa, FL.

What is the asking price?

The asking price for this property is $400,000.