Renovated Two-Unit
For Sale
$394,999
6625 S West Shore Boulevard, Tampa, FL 33616
Two leased units feature updated kitchens, bathrooms, laundry rooms, and storage.
Property Size1,832 SF
Price / SF$215.61
Days on Market13
Property Features for 6625 S West Shore Boulevard
General Information
Standard status
Active
Size
1,832 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1973
Buildings
2
Listing Agency:
SEXAUER REAL ESTATE INTL.
(727) 641-3644
Listed By:
Steve Sexauer · License #3165433
Source:
Fulcrum-residential
Added: Aug 19
Changed: Aug 30
Last Checked: Aug 30 at 8:29PM
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 SEXAUER REAL ESTATE INTL.
Investment Insights
Based on property information with market context.
This 1,832-square-foot duplex, built in 1973, has been substantially updated across both units. Improvements include new roofs, replacement windows, vinyl plank flooring, upgraded baseboards, remodeled galley kitchens, refreshed bathrooms, generously sized bedrooms, and dedicated laundry rooms with storage. The property sits on a corner lot and is fully leased to established long-term tenants.
The address is in South Tampa, with access to MacDill Air Force Base, downtown Tampa, local shopping and dining, the Gandy Bridge, and the Selmon Expressway described as nearby. The two-unit configuration supports continued rental use while also accommodating an owner-occupant arrangement, subject to applicable requirements.
The address is in South Tampa, with access to MacDill Air Force Base, downtown Tampa, local shopping and dining, the Gandy Bridge, and the Selmon Expressway described as nearby. The two-unit configuration supports continued rental use while also accommodating an owner-occupant arrangement, subject to applicable requirements.
Key Highlights
- 1,832‑square‑foot duplex in South Tampa
- Built in 1973 and substantially updated throughout
- Both units are fully leased to established long‑term tenants
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
$21,384
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
5.41%
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%
$427,680
$427.7K
Cap Rate 7%
$305,486
$305.5K
Cap Rate 9%
$237,600
$237.6K
Market Conditions
NOI Build-Up for 1,832 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
$32.8K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$30.5K $16.67/SF
− OpEx
−$9.2K −$5.00/SF
NOI
$21.4K $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%
$427,680
Cap Rate 7%
$305,486
Cap Rate 9%
$237,600
Alternative Uses
Best Use
Multifamily LT 5
$305.5K
$267.3K – $356.4K
NOI $21,384 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$284.0K
$248.5K – $331.4K
NOI $19,882 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$426.8K
$373.5K – $497.9K
NOI $29,876 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
243
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 leased units feature updated kitchens, bathrooms, laundry rooms, and storage.
Where is this duplex located?
The property is located at 6625 S West Shore Boulevard Tampa, FL.
What is the asking price?
The asking price for this property is $394,999.
What are key features of this property?
This property features: 1,832‑square‑foot duplex in South Tampa; Built in 1973 and substantially updated throughout; Both units are fully leased to established long‑term tenants
