Multifamily Property with Central
For Sale
$359,900
8113 N ALASKA STREET, Tampa, FL 33604
RS-50-zoned property includes ductless systems and crawl-space construction.
Property Size7,125 SF
Price / SF$221.07
Days on Market169
Property Features for 8113 N ALASKA STREET
General Information
Standard status
Active
Size
7,125 SF
Property subtype
Residential Income
Zoning
RS-50
Taxes and HOA fees
Annual Taxes
$3,398
Amenities
Central Air, Wall/Window Unit(s)
Ductless
Crawl Space
Other
Building Details
Building Size
7,125 SF
Year Built
1920
Listing Agency:
FLORIDA TOP TEAM LLC
(617) 775-8391
Listed By:
Nolan Cornu · License #3525594
(617) 775-8391
Source:
Evrealestate
Added: Mar 18
Changed: Sep 1
Last Checked: Sep 1 at 3:39PM
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 FLORIDA TOP TEAM LLC
Investment Insights
Based on property information with market context.
This 1,628-square-foot multifamily property was built in 1920 and includes central air, wall/window unit(s), and ductless systems. Crawl-space construction is also identified among the property features.
The property is located at 8113 N Alaska Street in Tampa, within Hillsborough County. Access from I-275 N is provided via exit 49 toward Bird Street and Waters Avenue, followed by routes along E Bird Street and N Alaska Street. The property carries RS-50 zoning.
The property is located at 8113 N Alaska Street in Tampa, within Hillsborough County. Access from I-275 N is provided via exit 49 toward Bird Street and Waters Avenue, followed by routes along E Bird Street and N Alaska Street. The property carries RS-50 zoning.
Key Highlights
- 1,628‑square‑foot multifamily property
- Built in 1920
- RS‑50 zoning
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
$19,003
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
5.28%
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%
$380,060
$380.1K
Cap Rate 7%
$271,471
$271.5K
Cap Rate 9%
$211,144
$211.1K
Market Conditions
NOI Build-Up for 1,628 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
$29.1K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.1K $16.67/SF
− OpEx
−$8.1K −$5.00/SF
NOI
$19.0K $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%
$380,060
Cap Rate 7%
$271,471
Cap Rate 9%
$211,144
Alternative Uses
Best Use
Multifamily LT 5
$271.5K
$237.5K – $316.7K
NOI $19,003 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$252.4K
$220.9K – $294.5K
NOI $17,668 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$379.3K
$331.9K – $442.5K
NOI $26,549 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,004
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - RS-50-zoned property includes ductless systems and crawl-space construction.
Where is this multifamily property located?
The property is located at 8113 N ALASKA STREET Tampa, FL.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 1,628‑square‑foot multifamily property; Built in 1920; RS‑50 zoning
