Six-Unit Multifamily
For Sale
Under Contract
$679,000
912 PEARL MARY Circle, Plant City, FL 33566
Commercial Sale, PLANT CITY, FL
Property Size3,416 SF
Lot Size1.13 Acres
Price / SF$198.77
Days on Market86
Property Features for 912 PEARL MARY Circle
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RSC-6
Appliances
Refrigerator
Subdivision
UNPLATTED
Directions
I-4 to south on Forbes rd to just south of hwy 92 to Address on the east.
Standard status
Active Under Contract
APN
U-26-28-21-ZZZ-000003-72830.0
Size
3,416 SF
Lot size
1.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THAT PART OF W 1/4 OF NW 1/4 OF SW 1/4 DESC AS BEG 152.5 FT S OF NW COR AND RUN S 102.6 FT E 230 FT S 150 FT E 100 FT N 252.6 FT AND W TO BEG
Tax Annual Amount
10408
Legal Description
THAT PART OF W 1/4 OF NW 1/4 OF SW 1/4 DESC AS BEG 152.5 FT S OF NW COR AND RUN S 102.6 FT E 230 FT S 150 FT E 100 FT N 252.6 FT AND W TO BEG
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Central Air, Wall/Window Unit(s)
Water source
Well
Building Details
Year built
1956
Floors in Building
1
Number of units
6
Building materials
Block, Frame
Listing Agency:
FLORIDA REALTY INVESTMENTS
(407) 207-2220
Listed By:
Terry Sobzak · License #3146468
(813) 760-9573
Added: Jun 3
Changed: Aug 24
Last Checked: Aug 27 at 1:06PM
MLS# TB8514753
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 multifamily property combines two duplexes, one apartment, and one house for a six-unit residential configuration. The buildings provide 3,416 square feet on a 1.13-acre parcel, with all units described as maintained and occupied under active leases. Construction includes block and frame components, with a mix of central and window or wall units for cooling, electric heating, refrigerators, well water, and septic service.
The property is in Plant City near I-4 and Hwy 92. On-site parking serves the residents, while RSC-6 zoning and the existing combination of residential structures define the current setup. Built in 1956, the property offers a varied unit arrangement within a single multifamily holding.
The property is in Plant City near I-4 and Hwy 92. On-site parking serves the residents, while RSC-6 zoning and the existing combination of residential structures define the current setup. Built in 1956, the property offers a varied unit arrangement within a single multifamily holding.
Key Highlights
- Six rental units across 2 duplexes, 1 apartment, and 1 house
- 3,416 square feet of property improvements on 1.13 acres
- Active leases 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
100%
Occupancy
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 - Mixed residential configuration with active leases, on-site parking, and proximity to I-4 and Hwy 92.
Where is this multifamily property located?
The property is located at 912 PEARL MARY Circle 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 rental units across 2 duplexes, 1 apartment, and 1 house; 3,416 square feet of property improvements on 1.13 acres; Active leases in place across all units
