New Construction Duplex
New
For Sale
$5,999,000
6925 E 21ST, Tampa, FL 33619
Gated, purpose-built residences feature modern layouts, contemporary finishes, and shared outdoor amenities.
Property Size22,380 SF
Days on Market7
Property Features for 6925 E 21ST
General Information
Standard status
Active
Size
22,380 SF
Property subtype
Commercial
Units
Unit Mix
20 x 3BR/2BA
Multifamily Units
20
Taxes and HOA fees
Annual Taxes
$2,918
Amenities
gated community
playground
green spaces
walking path
scenic lagoon
Building Details
Building Size
22,380 SF
Year Built
2025
Buildings
10
Stories
2
Units
20
Listing Agency:
URBAN REAL ESTATE US
(754) 217-9348
Listed By:
Jessica Scialletti · License #3517788
(754) 217-9348
Source:
Elliman
Added: Aug 13
Changed: Aug 15
Last Checked: Aug 18 at 9:49AM
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 URBAN REAL ESTATE US
Investment Insights
Based on property information with market context.
This under-construction duplex community includes 10 two-story duplexes totaling 20 residences, with completion scheduled by the end of 2025. Each residence is planned with 3 bedrooms, 2 full bathrooms, and 1,119 sq. ft. of living space. Open-concept interiors, contemporary finishes, and durable materials are incorporated throughout, while the community is designed for rental use and can accept Section 8 tenants.
The gated property includes a playground, green spaces, and a walking path surrounding a lagoon. The address is 6925 E 21ST, Tampa, FL 33619. An adjoining lot at 7201 E 21st Ave. is planned for 24 additional residences, and both lots are offered together. BikeScore is 60, WalkScore is 23, and TransitScore is 16.
The gated property includes a playground, green spaces, and a walking path surrounding a lagoon. The address is 6925 E 21ST, Tampa, FL 33619. An adjoining lot at 7201 E 21st Ave. is planned for 24 additional residences, and both lots are offered together. BikeScore is 60, WalkScore is 23, and TransitScore is 16.
Key Highlights
- 20 residences across 10 two‑story duplexes
- Each residence includes 3 bedrooms, 2 full bathrooms, and 1,119 sq. ft.
- Construction completion scheduled by the end of 2025
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
$261,229
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
4.35%
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%
$5,224,580
$5.2M
Cap Rate 7%
$3,731,843
$3.7M
Cap Rate 9%
$2,902,544
$2.9M
Market Conditions
NOI Build-Up for 22,380 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
$400.2K $17.88/SF
− Vacancy
−$27.0K −$1.21/SF
EGI
$373.2K $16.67/SF
− OpEx
−$112.0K −$5.00/SF
NOI
$261.2K $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%
$5,224,580
Cap Rate 7%
$3,731,843
Cap Rate 9%
$2,902,544
Alternative Uses
Best Use
Multifamily LT 5
$3.73M
$3.27M – $4.35M
NOI $261,229 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$3.47M
$3.04M – $4.05M
NOI $242,881 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$5.21M
$4.56M – $6.08M
NOI $364,973 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Explore this area
Business Placement
Demographics for 33619, FL
39,881
Population
15,360
Households
2.6
Avg Household Size
35
Median Age
23%
College-Educated
83%
High-School Grad
27.5 sq mi
ZIP Area
1,450
Density / Sq Mi
$63,193
Median Household Income
$38,448
Median Earnings
$1,618
Median Rent
$220,300
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 - Gated, purpose-built residences feature modern layouts, contemporary finishes, and shared outdoor amenities.
Where is this duplex located?
The property is located at 6925 E 21ST Tampa, FL.
What is the asking price?
The asking price for this property is $5,999,000.
What are key features of this property?
This property features: 20 residences across 10 two‑story duplexes; Each residence includes 3 bedrooms, 2 full bathrooms, and 1,119 sq. ft.; Construction completion scheduled by the end of 2025
