Triplex with Fenced
New
For Sale
$385,000
5513 OCEANIC, Holiday, FL 34690
Fully leased three-unit property near US-19, shopping, medical services, parks, and Gulf beaches.
Property Size1,800 SF
Days on Market7
Property Features for 5513 OCEANIC
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,227
Amenities
private fully fenced backyard
Building Details
Building Size
1,800 SF
Year Built
1970
Buildings
1
Tenancy
Multi
Listing Agency:
EXP REALTY LLC
(866) 308-7109
Listed By:
Jeffrey Borham, PA · License #3115528
(866) 308-7109
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 18 at 6:55AM
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
Investment Insights
Based on property information with market context.
This three-unit residential income property was built in 1970 and is currently 100% occupied by established tenants. Each unit includes a private, fully fenced backyard, providing separate outdoor space for residents. The property is identified as being outside a flood zone.
Located at 5513 Oceanic in Holiday, Florida, the triplex is near US-19, shopping, dining, medical facilities, Gulf beaches, parks, and major commuter routes. Its current occupancy and three-unit configuration support continued use as a rental property.
Located at 5513 Oceanic in Holiday, Florida, the triplex is near US-19, shopping, dining, medical facilities, Gulf beaches, parks, and major commuter routes. Its current occupancy and three-unit configuration support continued use as a rental property.
Key Highlights
- Triplex built in 1970
- 100% occupied with established tenants
- Private, fully fenced backyard for each unit
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
$21,010
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
5.46%
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%
$420,200
$420.2K
Cap Rate 7%
$300,143
$300.1K
Cap Rate 9%
$233,444
$233.4K
Market Conditions
NOI Build-Up for 1,800 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
$32.2K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$30.0K $16.67/SF
− OpEx
−$9.0K −$5.00/SF
NOI
$21.0K $11.67/SF
Area
Pasco County, 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 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%
$420,200
Cap Rate 7%
$300,143
Cap Rate 9%
$233,444
Alternative Uses
Best Use
Multifamily LT 5
$300.1K
$262.6K – $350.2K
NOI $21,010 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$236.5K
$206.9K – $275.9K
NOI $16,555 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$410.0K
$358.8K – $478.4K
NOI $28,702 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 34690, FL
14,115
Population
7,182
Households
2
Avg Household Size
45
Median Age
12%
College-Educated
89%
High-School Grad
3.4 sq mi
ZIP Area
4,151
Density / Sq Mi
$46,167
Median Household Income
$33,824
Median Earnings
$1,225
Median Rent
$152,200
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?
Triplex - Fully leased three-unit property near US-19, shopping, medical services, parks, and Gulf beaches.
Where is this triplex located?
The property is located at 5513 OCEANIC Holiday, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Triplex built in 1970; 100% occupied with established tenants; Private, fully fenced backyard for each unit
