Two-Story Quadplex with
New
For Sale
$630,000
8423 N Manhattan Ave, Tampa, FL 33614
Tenant-occupied multifamily property with consistent unit layouts, private laundry, exterior A/C, and assigned off-street parking.
Property Size3,286 SF
Price / SF$191.72
Days on Market4
Property Features for 8423 N Manhattan Ave
General Information
Standard status
Active
Size
3,286 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Parking per Unit
2
Amenities
in-unit laundry
outdoor green space
individual exterior A/C systems
Building Details
Year Built
1984
Buildings
1
Stories
2
Listing Agency:
Fischbach Land Company LLC
(941) 822-0708
Listed By:
Client Concierge
(941) 822-0708
Source:
Dwellingwell
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 9:03AM
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 Fischbach Land Company LLC
Investment Insights
Based on property information with market context.
Built in 1984, this two-story quadplex contains 4 residential units totaling 3,286 square feet. Each unit is configured with 2 bedrooms, 1 full bathroom, in-unit laundry, a living area, and an eat-in kitchen. Individual exterior A/C systems serve the residences, while outdoor green space and off-street parking support the overall property layout.
The property is located at 8423 N Manhattan Ave in Tampa, FL 33614. Each unit includes 2 assigned parking spaces, providing 8 spaces across the property. The building is tenant occupied, and showings require advance coordination through the Listing Agent. Interior photos represent one unit; finishes and condition may differ among the residences.
The property is located at 8423 N Manhattan Ave in Tampa, FL 33614. Each unit includes 2 assigned parking spaces, providing 8 spaces across the property. The building is tenant occupied, and showings require advance coordination through the Listing Agent. Interior photos represent one unit; finishes and condition may differ among the residences.
Key Highlights
- 4‑unit quadplex with 8 bedrooms and 4 full bathrooms
- Each residence includes 2 bedrooms, 1 full bathroom, and in‑unit laundry
- 2 assigned parking spaces per unit, totaling 8 spaces
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
$38,356
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
6.09%
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%
$767,120
$767.1K
Cap Rate 7%
$547,943
$547.9K
Cap Rate 9%
$426,178
$426.2K
Market Conditions
NOI Build-Up for 3,286 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
$58.8K $17.88/SF
− Vacancy
−$4.0K −$1.21/SF
EGI
$54.8K $16.67/SF
− OpEx
−$16.4K −$5.00/SF
NOI
$38.4K $11.67/SF
Area
ZIP 33614
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%
$767,120
Cap Rate 7%
$547,943
Cap Rate 9%
$426,178
Alternative Uses
Best Use
Multifamily LT 5
$547.9K
$479.5K – $639.3K
NOI $38,356 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$431.7K
$377.8K – $503.7K
NOI $30,222 @ 7.0% cap · market cap 4.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,293
Businesses Nearby
Explore this area
Business Placement
Demographics for 33614, FL
47,695
Population
19,660
Households
2.4
Avg Household Size
39
Median Age
23%
College-Educated
78%
High-School Grad
9.7 sq mi
ZIP Area
4,917
Density / Sq Mi
$51,143
Median Household Income
$31,350
Median Earnings
$1,399
Median Rent
$295,700
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?
Quadplex - Tenant-occupied multifamily property with consistent unit layouts, private laundry, exterior A/C, and assigned off-street parking.
Where is this quadplex located?
The property is located at 8423 N Manhattan Ave Tampa, FL.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 4‑unit quadplex with 8 bedrooms and 4 full bathrooms; Each residence includes 2 bedrooms, 1 full bathroom, and in‑unit laundry; 2 assigned parking spaces per unit, totaling 8 spaces
