Two-Unit Duplex with Rear
For Sale
$499,000
5914 N OLA AVE, Tampa, FL 33604
Separate electric meters and alley access support distinct unit operations.
Property Size1,344 SF
Lot Size0.21 Acres
Days on Market99
Property Features for 5914 N OLA AVE
General Information
Standard status
Active
Size
1,344 SF
Lot size
0.21 Acres
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,847
Building Details
Building Size
1,344 SF
Year Built
1949
Listing Agency:
COMPASS FLORIDA LLC
(816) 394-0256
Listed By:
Sarah Weaver · License #3268553
Source:
Judibeck
Added: May 23
Changed: Aug 29
Last Checked: Aug 29 at 1:29PM
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 COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
Built in 1949, this duplex contains two separately configured units on a 9,270-square-foot lot. The lower unit offers two bedrooms and one bathroom, along with a spacious kitchen and dining area, separate living room, and large front porch. Upstairs, the one-bedroom, one-bath unit includes living and dining areas plus a private balcony. The property is currently unoccupied and provides rear parking accessed from the alley.
Located in Seminole Heights, the property sits less than a quarter mile from Henry & Ola Park and near restaurants, shopping, ZooTampa, Raymond James Stadium, downtown Tampa, and I-275. Improvements include an updated electrical panel, a shingle roof, tree trimming around the structure, and separate electric meters for each unit. Termite tenting is scheduled for the first week of June 2026.
Located in Seminole Heights, the property sits less than a quarter mile from Henry & Ola Park and near restaurants, shopping, ZooTampa, Raymond James Stadium, downtown Tampa, and I-275. Improvements include an updated electrical panel, a shingle roof, tree trimming around the structure, and separate electric meters for each unit. Termite tenting is scheduled for the first week of June 2026.
Key Highlights
- Two‑unit duplex built in 1949 on a 9,270‑square‑foot lot
- Lower unit has 2 bedrooms, 1 bathroom, kitchen, dining area, living room, and front porch
- Upper unit includes 1 bedroom, 1 bathroom, living and dining areas, and a balcony
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
$15,688
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
3.14%
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%
$313,760
$313.8K
Cap Rate 7%
$224,114
$224.1K
Cap Rate 9%
$174,311
$174.3K
Market Conditions
NOI Build-Up for 1,344 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
$24.0K $17.88/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$22.4K $16.67/SF
− OpEx
−$6.7K −$5.00/SF
NOI
$15.7K $11.67/SF
Area
Tampa, 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%
$313,760
Cap Rate 7%
$224,114
Cap Rate 9%
$174,311
Alternative Uses
Best Use
Multifamily LT 5
$224.1K
$196.1K – $261.5K
NOI $15,688 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$208.4K
$182.3K – $243.1K
NOI $14,586 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$313.1K
$274.0K – $365.3K
NOI $21,918 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,257
Businesses Nearby
Explore this area
Business Placement
Demographics for 33604, FL
39,071
Population
17,053
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,209
Density / Sq Mi
$55,988
Median Household Income
$39,537
Median Earnings
$1,326
Median Rent
$264,900
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?
Duplex - Separate electric meters and alley access support distinct unit operations.
Where is this duplex located?
The property is located at 5914 N OLA AVE Tampa, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1949 on a 9,270‑square‑foot lot; Lower unit has 2 bedrooms, 1 bathroom, kitchen, dining area, living room, and front porch; Upper unit includes 1 bedroom, 1 bathroom, living and dining areas, and a balcony
