3224 Moores Lake Rd, Dover, FL 33527

Building Details

Year Built

1927

Listing office EXP REALTY LLC

Listing date Feb 26, 2026

Source Crexi

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 EXP REALTY LLC

Report an issue

---

Overview

This seven-unit multifamily property in Dover, FL, offers a value-add investment opportunity with existing income and potential for increased returns. Currently, the property is 86% occupied, with six of the seven units leased. The property generates approximately $85,200 in gross annual income. With an estimated net operating income of $60,000, the property is offered at an approximate 12.6% capitalization rate. The property consists of a mix of one-bedroom, one-bathroom and two-bedroom, one-bathroom units. Current gross rents are approximately $7,100 per month. One vacant unit presents an immediate opportunity to increase income. Tenants are responsible for gas. Built in 1927, the property offers potential for improvements and repositioning. The property is situated on a 19,200 square foot lot. This asset is suitable for investors seeking immediate cash flow, a value-add opportunity, small multifamily portfolio expansion, or a high capitalization rate investment. Dover's location near Tampa and ongoing regional growth supports long-term rental demand and appreciation potential.

Suggested Use

Big Box & Wholesale Store Storage Facility Parking Lot & Garage Bed & Breakfast Wine and Liquor Store Travel Agency Hotel & Motel Fish Market Restaurant Car Rental Facility

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Dover

County

Hillsborough

State

Florida

Longitude

-82.213

Latitude

27.9741

FAQs

What type of property is this?

Apartment building - Seven-unit property with strong income and value-add potential.

Where is this apartment building located?

The property is located at 3224 Moores Lake Rd Dover, FL.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: High ~12.6% Cap Rate; Strong In‑Place Income with $85,200 Gross Annual Income; Value‑Add Opportunity with One Vacant Unit for Immediate Upside