Tampa Multifamily Investment
For Sale
$995,000
8413 N HAMNER Ave, Tampa, FL 33604
Stabilized 10-unit multifamily property with immediate income in central Tampa.
Property Size3,309 SF
Lot Size0.26 Acres
Days on Market157
Property Features for 8413 N HAMNER Ave
General Information
Standard status
Active
Size
3,309 SF
Lot size
0.26 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,823
Building Details
Building Size
3,309 SF
Year Built
1947
Units
10
Listing Agency:
KELLER WILLIAMS TAMPA PROP.
(727) 410-2896
Listed By:
Alexander Lucke · License #3351552
(727) 410-2896
Source:
Elliman
Added: Mar 10
Changed: Aug 11
Last Checked: Aug 11 at 11:13AM
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 PROP.
Investment Insights
Based on property information with market context.
The property at 8413 N. Hamner Ave, Tampa, FL 33610, is a stabilized 10-unit multifamily property offering immediate income. The asset generates an in-place NOI of $83,099, equating to a 7.55 CAP rate. The unit mix includes one two-bedroom, one-bath main home with a whole-house water filtration system, one one-bedroom, one-bath unit attached to the main home, and eight studios, each with a private kitchen and bathroom. All but one unit have been updated. The property is fully occupied with a diverse tenant base. The roofs are a combination of metal and shingle. The property features a mix of central air, mini-split systems, and wall/window units. Leak detection systems are installed throughout the units for risk mitigation. The property benefits from consistent rental demand in a central Tampa location. There is future income potential by adding on-site coin laundry and annual rent appreciation. The property's strength lies in its majority studio unit mix, which caters directly to Tampa's growing demand for affordable, efficient housing. With updated interiors, durable building systems, and proven income performance, this asset provides investors with immediate cash flow and long-term stability in a high-demand rental market.
Key Highlights
- Stabilized 10‑unit multifamily property generating an in‑place NOI of $83,099, equating to a 7.55 CAP rate.
- Near turnkey investment with all but one unit updated.
- Fully occupied with diverse tenant base in a central Tampa location with consistent rental demand.
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
$35,911
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
3.61%
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%
$718,220
$718.2K
Cap Rate 7%
$513,014
$513.0K
Cap Rate 9%
$399,011
$399.0K
Market Conditions
NOI Build-Up for 3,309 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
$70.3K $21.24/SF
− Vacancy
−$5.0K −$1.51/SF
EGI
$65.3K $19.73/SF
− OpEx
−$29.4K −$8.88/SF
NOI
$35.9K $10.85/SF
Area
Tampa, FL
Vacancy
7.10%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
45.00%
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%
$718,220
Cap Rate 7%
$513,014
Cap Rate 9%
$399,011
Alternative Uses
Best Use
Apartment 5plus
$513.0K
$448.9K – $598.5K
NOI $35,911 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$770.9K
$674.5K – $899.4K
NOI $53,963 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,220
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Stabilized 10-unit multifamily property with immediate income in central Tampa.
Where is this apartment building located?
The property is located at 8413 N HAMNER Ave Tampa, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Stabilized 10‑unit multifamily property generating an in‑place NOI of $83,099, equating to a **7.55 CAP rate**.; Near turnkey investment with all but one unit updated.; Fully occupied with diverse tenant base in a central Tampa location with consistent rental demand.
