Small Multifamily Apartment
For Sale
Contact for pricing
4422 North Hale Avenue, Tampa, FL 33614
IG-zoned apartment property with five electric meters and an unfinished unit renovation.
Property Size2,388 SF
Price / SF$282.66
Days on Market10
Property Features for 4422 North Hale Avenue
General Information
Standard status
Active
Size
2,388 SF
Property subtype
Retail, Multifamily
Zoning
IG
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1972
Year Renovated
1996
Buildings
3
Stories
1
Units
6
Tenancy
Multi
Listing Agency:
IQ Commercial
(813) 293-3234
Listed By:
Ralph Carrasquillo · License #BK3015016
Source:
Crexi
Added: Jul 29
Changed: Aug 3
Last Checked: Aug 6 at 12:48PM
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 IQ Commercial
Investment Insights
Based on property information with market context.
This 2,388-square-foot apartment property was built in 1972 and is classified under IG zoning. The asset includes a unit undergoing renovation, with completion and leasing identified as the remaining steps for that space.
Utility responsibility is divided between the property and its occupants. Five separate electric meters serve the apartments, while ownership covers water, sewer, and trash. The property is near Drew Park, Tampa International Airport, Veterans Expressway, Interstate 275, Downtown Tampa, and the Westshore Business District.
Utility responsibility is divided between the property and its occupants. Five separate electric meters serve the apartments, while ownership covers water, sewer, and trash. The property is near Drew Park, Tampa International Airport, Veterans Expressway, Interstate 275, Downtown Tampa, and the Westshore Business District.
Key Highlights
- 2,388‑square‑foot apartment property built in 1972
- IG zoning supports apartment use and potential redevelopment flexibility
- Five separate electric meters serving the property
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
$21,963
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
3.25%
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%
$439,260
$439.3K
Cap Rate 7%
$313,757
$313.8K
Cap Rate 9%
$244,033
$244.0K
Market Conditions
NOI Build-Up for 2,388 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
$43.0K $18.00/SF
− Vacancy
−$3.1K −$1.28/SF
EGI
$39.9K $16.72/SF
− OpEx
−$18.0K −$7.52/SF
NOI
$22.0K $9.20/SF
Area
ZIP 33614
Vacancy
7.10%
Lease Rate
$18.00 /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%
$439,260
Cap Rate 7%
$313,757
Cap Rate 9%
$244,033
Alternative Uses
Best Use
Apartment 5plus
$313.8K
$274.5K – $366.1K
NOI $21,963 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$398.2K
$348.4K – $464.6K
NOI $27,874 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,413
Businesses Nearby
Explore this area
Business Placement
Demographics for 33614, FL
47,695
Population
19,660
Households
2.4
Avg Household Size
39
Median Age
23%
College-Educated
78%
High-School Grad
9.7 sq mi
ZIP Area
4,917
Density / Sq Mi
$51,143
Median Household Income
$31,350
Median Earnings
$1,399
Median Rent
$295,700
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 - IG-zoned apartment property with five electric meters and an unfinished unit renovation.
Where is this apartment building located?
The property is located at 4422 North Hale Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,388‑square‑foot apartment property built in 1972; IG zoning supports apartment use and potential redevelopment flexibility; Five separate electric meters serving the property
