Fully Occupied
For Sale
$480,000
A-9502 Banyan Ave, Tampa, FL 33612
Two three-bedroom residences offer a leased configuration with concrete-block construction and a fenced yard.
Property Size1,736 SF
Price / SF$276.50
Days on Market373
Property Features for A-9502 Banyan Ave
General Information
Standard status
Active
Size
1,736 SF
Property subtype
Residential Income
Occupancy
100%
Financials
Gross Income
$38,160
Opportunity Zone
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,669
Amenities
fenced yard
off-street parking
Building Details
Construction
concrete block
Listing Agency:
KELLER WILLIAMS SOUTH TAMPA
(813) 875-3700
Listed By:
Correy Smith · License #261552498
(850) 496-7111
Source:
Exprealty
Added: Sep 19, 2025
Changed: Sep 21
Last Checked: Sep 24 at 4:40PM
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 SOUTH TAMPA
Investment Insights
Based on property information with market context.
This 1,736-square-foot duplex at 9502 Banyan Ave in Tampa includes two three-bedroom units, both leased at the time of listing. The building uses concrete-block construction with tile and vinyl flooring, providing practical finishes for ongoing occupancy. A fenced yard and off-street parking serve the property, which is offered in as-is condition.
The property is located within Tampa city limits and is identified as being in a designated Opportunity Zone. It may be purchased individually or included in a larger nine-property portfolio. Showings are by appointment only, and the occupied units are not to be disturbed.
The property is located within Tampa city limits and is identified as being in a designated Opportunity Zone. It may be purchased individually or included in a larger nine-property portfolio. Showings are by appointment only, and the occupied units are not to be disturbed.
Key Highlights
- 1,736‑square‑foot duplex with two three‑bedroom units
- Both units are fully occupied and leased
- Concrete‑block construction with tile and vinyl flooring
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
$20,263
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
4.22%
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%
$405,260
$405.3K
Cap Rate 7%
$289,471
$289.5K
Cap Rate 9%
$225,144
$225.1K
Market Conditions
NOI Build-Up for 1,736 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
$31.0K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$28.9K $16.67/SF
− OpEx
−$8.7K −$5.00/SF
NOI
$20.3K $11.67/SF
Area
ZIP 33612
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%
$405,260
Cap Rate 7%
$289,471
Cap Rate 9%
$225,144
Alternative Uses
Best Use
Multifamily LT 5
$289.5K
$253.3K – $337.7K
NOI $20,263 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$269.1K
$235.5K – $314.0K
NOI $18,840 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$395.5K
$346.0K – $461.4K
NOI $27,682 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
Business Placement
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
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?
Duplex - Two three-bedroom residences offer a leased configuration with concrete-block construction and a fenced yard.
Where is this duplex located?
The property is located at A-9502 Banyan Ave Tampa, FL.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 1,736‑square‑foot duplex with two three‑bedroom units; Both units are fully occupied and leased; Concrete‑block construction with tile and vinyl flooring
