Furnished Duplex with Pond
New
For Sale
$925,000
6602 S SHERRILL ST, Tampa, FL 33616
Two separate residences combine flexible occupancy, updated finishes, outdoor space, and convenient access to parks, beaches, and Tampa destinations.
Property Size3,000 SF
Days on Market7
Property Features for 6602 S SHERRILL ST
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$14,477
Building Details
Building Size
3,000 SF
Year Built
2020
Listing Agency:
EXP REALTY LLC
(813) 760-5996
Listed By:
Martha Smith · License #3552576
Source:
Judibeck
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 28 at 11:56AM
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 2020 duplex at 6602 S Sherrill Street in Tampa contains two matching, fully furnished residences totaling 3,000 square feet. Each side includes two primary bedrooms with ensuite bathrooms, open living areas, a kitchen with quartz countertops, a center island, and stainless steel appliances. The units have no shared walls and feature wood-look vinyl flooring, large windows, French doors, and wood decks. An exterior elevator lift adds convenience, while the lot provides parking for cars, boats, or RVs.
The property sits near Tappan Tract Park and Robinson High School, with Flavor of Tampa Bay less than 2 miles away. Davis Beach and Picnic Island Beach are approximately 15 minutes away, and downtown Tampa, St. Petersburg, and Tampa International Airport are accessible from the property. The layout supports leasing both residences, occupying one while renting the other, or accommodating extended family. There are no HOA or CDD fees, and the lot has room for a pool, fire pit, or pickleball court.
The property sits near Tappan Tract Park and Robinson High School, with Flavor of Tampa Bay less than 2 miles away. Davis Beach and Picnic Island Beach are approximately 15 minutes away, and downtown Tampa, St. Petersburg, and Tampa International Airport are accessible from the property. The layout supports leasing both residences, occupying one while renting the other, or accommodating extended family. There are no HOA or CDD fees, and the lot has room for a pool, fire pit, or pickleball court.
Key Highlights
- Two matching residences totaling 3,000 square feet
- Built in 2020 at 6602 S Sherrill Street, Tampa, FL 33616
- Each unit has two primary bedrooms with ensuite bathrooms
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
$35,017
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
3.79%
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%
$700,340
$700.3K
Cap Rate 7%
$500,243
$500.2K
Cap Rate 9%
$389,078
$389.1K
Market Conditions
NOI Build-Up for 3,000 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
$53.6K $17.88/SF
− Vacancy
−$3.6K −$1.21/SF
EGI
$50.0K $16.67/SF
− OpEx
−$15.0K −$5.00/SF
NOI
$35.0K $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%
$700,340
Cap Rate 7%
$500,243
Cap Rate 9%
$389,078
Alternative Uses
Best Use
Multifamily LT 5
$500.2K
$437.7K – $583.6K
NOI $35,017 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$465.1K
$407.0K – $542.6K
NOI $32,558 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$698.9K
$611.6K – $815.4K
NOI $48,924 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 33616, FL
14,802
Population
7,068
Households
2.1
Avg Household Size
36
Median Age
47%
College-Educated
96%
High-School Grad
3.9 sq mi
ZIP Area
3,795
Density / Sq Mi
$88,971
Median Household Income
$54,946
Median Earnings
$1,794
Median Rent
$369,900
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 - Two separate residences combine flexible occupancy, updated finishes, outdoor space, and convenient access to parks, beaches, and Tampa destinations.
Where is this duplex located?
The property is located at 6602 S SHERRILL ST Tampa, FL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Two matching residences totaling 3,000 square feet; Built in 2020 at 6602 S Sherrill Street, Tampa, FL 33616; Each unit has two primary bedrooms with ensuite bathrooms
