Six-Unit Multifamily
For Sale
$679,000
912 Pearl Mary Cir, Plant City, FL 33566
All six rental units have tenants and active leases, with parking provided for residents.
Property Size3,416 SF
Price / SF$198.77
Days on Market60
Property Features for 912 Pearl Mary Cir
General Information
Standard status
Active
Size
3,416 SF
Additional Details
Highway Access
Yes
Multifamily Units
6
Building Details
Year Built
1956
Buildings
4
Listing Agency:
FLORIDA REALTY INVESTMENTS
(813) 760-9573
Listed By:
Terry Sobzak · License #3146468
Source:
Livewelltampabay
Added: Jul 2
Changed: Aug 29
Last Checked: Aug 25 at 5:03AM
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 FLORIDA REALTY INVESTMENTS
Investment Insights
Based on property information with market context.
This 3416-square-foot multifamily property combines two duplexes, one apartment, and one house for a total of six rental units. Residents are in place across the property, and each unit has an active lease. The units are described as being in good condition and maintained, with parking available for residents.
The property is located at 912 Pearl Mary Cir in Plant City, Florida, with access to I-4 and Hwy 92. Its mix of residential structures provides six separate rental units within one multifamily holding.
The property is located at 912 Pearl Mary Cir in Plant City, Florida, with access to I-4 and Hwy 92. Its mix of residential structures provides six separate rental units within one multifamily holding.
Key Highlights
- Six total rental units across two duplexes, one apartment, and one house
- 3416 square feet of multifamily property
- Tenants are in place across all units
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
$39,873
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
5.87%
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%
$797,460
$797.5K
Cap Rate 7%
$569,614
$569.6K
Cap Rate 9%
$443,033
$443.0K
Market Conditions
NOI Build-Up for 3,416 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
$61.1K $17.88/SF
− Vacancy
−$4.1K −$1.21/SF
EGI
$57.0K $16.67/SF
− OpEx
−$17.1K −$5.00/SF
NOI
$39.9K $11.67/SF
Area
Hillsborough County, 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%
$797,460
Cap Rate 7%
$569,614
Cap Rate 9%
$443,033
Alternative Uses
Best Use
Multifamily LT 5
$569.6K
$498.4K – $664.6K
NOI $39,873 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$448.8K
$392.7K – $523.6K
NOI $31,417 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$989.3K
$865.6K – $1.15M
NOI $69,251 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Explore this area
Business Placement
Demographics for 33566, FL
22,759
Population
8,224
Households
2.8
Avg Household Size
37
Median Age
25%
College-Educated
87%
High-School Grad
23.7 sq mi
ZIP Area
960
Density / Sq Mi
$71,161
Median Household Income
$36,916
Median Earnings
$1,333
Median Rent
$290,600
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?
Multifamily property - All six rental units have tenants and active leases, with parking provided for residents.
Where is this multifamily property located?
The property is located at 912 Pearl Mary Cir Plant City, FL.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Six total rental units across two duplexes, one apartment, and one house; 3416 square feet of multifamily property; Tenants are in place across all units
