Building Details

Year Built 1945

Listing Agency: SERRALLES GROUP,INC Show Phone

Listed By: EDDIE SERRALLES · License #508984 Show Phone

Source: Corcoran

Added: Sep 12, 2025 Changed: Aug 8 Last Checked: Aug 25 at 4:40AM

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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 SERRALLES GROUP,INC

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Investment Insights

Based on property information with market context.

Located in Tampa Heights, this income-producing property comprises a 5-parcel package with 11 units. The property is situated near Raymond James Stadium, with access to I-275 and I-4, positioning it between downtown, Midtown, and Seminole Heights. Current rents range from $1,400 to $2,200 per unit. This property offers potential for boutique residences or mixed-use space in a growing area. The property is located minutes from Armature Works, the Tampa Riverwalk, and the Hillsborough River. The property size is 7942 square feet.

Key Highlights

• Prime Tampa Heights location, a rapidly growing and desirable neighborhood.
• Income‑producing property with 11 units and current rents from $1,400-$2,200 per unit.
• Significant development opportunity with 5 parcels included.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$86,191

Cap Rate

4.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,723,820 $1.7M

Cap Rate 7%

$1,231,300 $1.2M

Cap Rate 9%

$957,678 $957.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,942 SF

Gross rent

$168.7K $21.24/SF

− Vacancy

−$12.0K −$1.51/SF

EGI

$156.7K $19.73/SF

− OpEx

−$70.5K −$8.88/SF

NOI

$86.2K $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%

$1,723,820

Cap Rate 7%

$1,231,300

Cap Rate 9%

$957,678

Alternative Uses

Best Use

Apartment 5plus

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,191 @ 7.0% cap · market cap 4.93%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.85M

$1.62M – $2.16M (±1% cap)

NOI $129,518 @ 7.0% cap · market cap 7.41%

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

1,005

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Income-producing property with development potential in vibrant Tampa Heights.

Where is this apartment building located?

The property is located at 2806 N TAMPA STREET Tampa, FL.

What is the asking price?

The asking price for this property is $1,749,000.

What are key features of this property?

This property features: Prime Tampa Heights location, a rapidly growing and desirable neighborhood.; Income‑producing property with 11 units and current rents from $1,400-$2,200 per unit.; Significant development opportunity with 5 parcels included.