Triplex with Fenced
For Sale
$385,000
5513 OCEANIC Road, Holiday, FL 34690
MULTI_FAMILY - HOLIDAY, FL
Property Size1,800 SF
Lot Size0.20 Acres
Price / SF$213.89
Days on Market43
Property Features for 5513 OCEANIC Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R4
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 3
Interior features
Ceiling Fans(s), Solid Wood Cabinets
Exterior features
Lighting
Subdivision
DODGE CITY ADD 01
Directions
From Mile Stretch - South On Grand To Left On Oceanic
Standard status
Active
APN
16-26-32-0130-00000-1780
Size
1,800 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DODGE CITY NO 1 PB 6 PG 116 LOT 178
Tax Annual Amount
4227
Legal Description
DODGE CITY NO 1 PB 6 PG 116 LOT 178
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
private fully fenced backyard
Building Details
Year built
1970
Building materials
Concrete
Listing Agency:
EXP REALTY LLC
(866) 308-7109
Listed By:
Jeffrey Borham, PA · License #3115528
(866) 308-7109
Added: Jul 1
Changed: Aug 12
Last Checked: Aug 12 at 6:06PM
MLS# TB8538219
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 1,800-square-foot triplex contains three residential units and was built in 1970. The property is fully occupied, with each unit offering a private fenced backyard. Interior features include ceiling fans and solid wood cabinets, while central heating and central air serve the building. Concrete construction, exterior lighting, and public water and sewer are also in place.
The property is located in Holiday, Florida, in Pasco County, near US-19, shopping, dining, medical facilities, Gulf beaches, parks, and major commuter routes. It is identified as being outside a flood zone and is situated on a 0.2-acre parcel. R4 zoning supports the property's multifamily classification.
The property is located in Holiday, Florida, in Pasco County, near US-19, shopping, dining, medical facilities, Gulf beaches, parks, and major commuter routes. It is identified as being outside a flood zone and is situated on a 0.2-acre parcel. R4 zoning supports the property's multifamily classification.
Key Highlights
- Three‑unit multifamily property with 1,800 square feet
- 100% occupied with established tenants
- Private 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully leased three-unit property with private fenced outdoor areas and public water and sewer.
Where is this triplex located?
The property is located at 5513 OCEANIC Road 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: Three‑unit multifamily property with 1,800 square feet; 100% occupied with established tenants; Private fenced backyard for each unit
