11-Unit Apartment
For Sale
$1,599,000
2806 N TAMPA Street, Tampa, FL 33602
Commercial Sale, TAMPA, FL
Property Size7,942 SF
Lot Size0.42 Acres
Price / SF$201.33
Days on Market355
Property Features for 2806 N TAMPA Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RM-16
Subdivision
WARREN & KEYES
Directions
I-275 to Floribraska exit turn right go to tampa st turn left properties are on the right 3rd block down.
Standard status
Active
APN
A-12-29-18-4R5-000007-00001.0
Size
7,942 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
WARREN AND KEYES N 1/2 OF LOTS 1 AND 2 BLOCK 7
Tax Annual Amount
14541
Legal Description
WARREN AND KEYES N 1/2 OF LOTS 1 AND 2 BLOCK 7
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1945
Number of units
11
Flooring type
Vinyl, Carpet
Building materials
Stucco, Frame
Roof type
Shingle, Metal
Listing Agency:
SERRALLES GROUP,INC
(813) 307-0007
Listed By:
Eddie Serralles · License #508984
(813) 610-1563
Added: Sep 10, 2025
Changed: Aug 24
Last Checked: Aug 30 at 2:06AM
MLS# TB8426344
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment property comprises 5 parcels and 11 units across 7,942 square feet on 0.42 acres. Built in 1945, the improvements feature stucco and frame construction, vinyl and carpet flooring, ductless heating, and window or wall/window cooling systems. Public water and public sewer serve the property, while roofing includes shingle and metal components.
The property is located in Tampa Heights near Armature Works, the Tampa Riverwalk, the Hillsborough River, and Raymond James Stadium. Access to I-275 and I-4 connects the site with downtown Tampa, Midtown, and Seminole Heights. RM-16 zoning and the multi-parcel configuration are established property characteristics.
The property is located in Tampa Heights near Armature Works, the Tampa Riverwalk, the Hillsborough River, and Raymond James Stadium. Access to I-275 and I-4 connects the site with downtown Tampa, Midtown, and Seminole Heights. RM-16 zoning and the multi-parcel configuration are established property characteristics.
Key Highlights
- 5 parcels containing 11 apartment units
- 7,942 square feet on 0.42 acres
- RM‑16 zoning
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
$86,191
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
5.39%
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%
$1,723,820
$1.7M
Cap Rate 7%
$1,231,300
$1.2M
Cap Rate 9%
$957,678
$957.7K
Market Conditions
NOI Build-Up for 7,942 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
$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 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%
$1,723,820
Cap Rate 7%
$1,231,300
Cap Rate 9%
$957,678
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,191 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,518 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Yes
Highway access
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-parcel apartment package with public water, public sewer, and RM-16 zoning.
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 $1,599,000.
What are key features of this property?
This property features: 5 parcels containing 11 apartment units; 7,942 square feet on 0.42 acres; RM‑16 zoning
