Occupied 10-Unit Apartment
For Sale
$995,000
8413 N HAMNER Avenue, Tampa, FL 33604
Commercial Sale, TAMPA, FL
Property Size3,309 SF
Lot Size0.26 Acres
Price / SF$300.70
Days on Market360
Property Features for 8413 N HAMNER Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RS-60
Subdivision
CASA LOMA SUB
Directions
Heading east on Waters Ave, make a left onto N Hamner Ave, the property is located on the right side of street.
Standard status
Active
APN
A-24-28-18-3EO-000003-00033.0
Size
3,309 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CASA LOMA SUBDIVISION LOTS 33 34 35 AND 36 BLOCK 3
Tax Annual Amount
3823
Legal Description
CASA LOMA SUBDIVISION LOTS 33 34 35 AND 36 BLOCK 3
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating), Central
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1947
Floors in Building
1
Number of units
10
Building materials
Frame
Roof type
Metal
Listing Agency:
KELLER WILLIAMS TAMPA PROP. · Keller Williams Realty
(813) 264-7754
Listed By:
Alexander Lucke · License #3351552
(727) 410-2896
Added: Sep 3, 2025
Changed: Aug 24
Last Checked: Aug 28 at 11:06PM
MLS# TB8424013
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,309-square-foot apartment property contains 10 units across a varied configuration: a two-bedroom, one-bath home; an attached one-bedroom, one-bath unit; and eight studio apartments. Every unit includes a private kitchen and bathroom, and most residences have been updated. The property was built in 1947 on a 0.26-acre site and is zoned RS-60.
Building systems include metal and shingle roofing, central air, ductless mini-splits, and wall or window cooling units. Leak-detection devices are installed throughout the units. Public water and public sewer serve the property, which has a frame construction system and a metal roof component. The asset is located at 8413 N Hamner Avenue in Tampa, Florida 33604, with access to major roadways, employment centers, and neighborhood retail.
Building systems include metal and shingle roofing, central air, ductless mini-splits, and wall or window cooling units. Leak-detection devices are installed throughout the units. Public water and public sewer serve the property, which has a frame construction system and a metal roof component. The asset is located at 8413 N Hamner Avenue in Tampa, Florida 33604, with access to major roadways, employment centers, and neighborhood retail.
Key Highlights
- 10‑unit apartment property with a two‑bedroom home, one‑bedroom attached unit, and eight studio apartments
- 3,309 square feet on a 0.26‑acre site
- Every unit has its own kitchen and bathroom
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
Lease Details
10
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,205
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?
Apartment building - Fully leased multifamily property with varied unit layouts, individual kitchens and bathrooms, and several updated residences.
Where is this apartment building located?
The property is located at 8413 N HAMNER Avenue 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: 10‑unit apartment property with a two‑bedroom home, one‑bedroom attached unit, and eight studio apartments; 3,309 square feet on a 0.26‑acre site; Every unit has its own kitchen and bathroom
