Renovated Two-Unit
New
For Sale
$519,000
6309 S MACDILL AVENUE, Tampa, FL 33611
Separate entrances, updated kitchens, and tile floors serve both residences.
Property Size1,640 SF
Lot Size0.17 Acres
Price / SF$316.46
Days on Market3
Property Features for 6309 S MACDILL AVENUE
General Information
Standard status
Active
Size
1,640 SF
Lot size
0.17 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1981
Listing Agency:
KELLER WILLIAMS TAMPA CENTRAL
(813) 865-0700
Listed By:
Jackson Domning · License #3654060
(850) 512-5060
Source:
Dennisrealty
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 2 at 6:32PM
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 KELLER WILLIAMS TAMPA CENTRAL
Investment Insights
Based on property information with market context.
Built in 1981, this renovated duplex contains two residences, each with two bedrooms and one bathroom. Each unit measures 820 square feet, for 1,640 square feet of heated space in total. Improvements include a new roof and two new HVAC systems; both units also have updated kitchens, tile flooring, and separate entrances. The property sits on a 7,523-square-foot lot at 6309 S MacDill Avenue in Tampa.
MacDill Air Force Base, Bayshore Boulevard, and South Tampa dining and shopping are nearby.
MacDill Air Force Base, Bayshore Boulevard, and South Tampa dining and shopping are nearby.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units, each measuring 820 sq ft
- 1,640 sq ft total heated area on a 7,523 sq ft lot
- Renovated property with a new roof and two new HVAC systems
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
$19,143
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
3.69%
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%
$382,860
$382.9K
Cap Rate 7%
$273,471
$273.5K
Cap Rate 9%
$212,700
$212.7K
Market Conditions
NOI Build-Up for 1,640 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
$29.3K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.3K $16.67/SF
− OpEx
−$8.2K −$5.00/SF
NOI
$19.1K $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%
$382,860
Cap Rate 7%
$273,471
Cap Rate 9%
$212,700
Alternative Uses
Best Use
Multifamily LT 5
$273.5K
$239.3K – $319.1K
NOI $19,143 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$254.3K
$222.5K – $296.6K
NOI $17,798 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$382.1K
$334.3K – $445.8K
NOI $26,745 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
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Business Placement
Demographics for 33611, FL
34,101
Population
18,682
Households
1.8
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
6.3 sq mi
ZIP Area
5,413
Density / Sq Mi
$82,804
Median Household Income
$63,797
Median Earnings
$1,681
Median Rent
$449,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances, updated kitchens, and tile floors serve both residences.
Where is this duplex located?
The property is located at 6309 S MACDILL AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units, each measuring 820 sq ft; 1,640 sq ft total heated area on a 7,523 sq ft lot; Renovated property with a new roof and two new HVAC systems
