12216 N 59th Street, Tampa FL
$1,325,000 · $187 per sq ft · Multifamily for sale
- Property type: Multi Family
- Asking price: $1,325,000
- Price per sq ft: $187
- Building size: 7,072 sq ft
- Lot size: 34,848 sq ft
- Zoning: RMC-20
- Year built: 1984
- Units: 7
- Stories: 2
- Net operating income: $106,897/yr
- Cap rate: 8.1%
- Tenant pays: Cable TV
- Buildings: 2
- Parking spaces: 10
- Units leased / vacant: 7 leased · — vacant
- Parcel ID: 0369710502
- MLS#: B26048029
About this property
As one of the most populous cities in Florida, Tampa is an ideal market in which to own quality rental units. This 7 unit, fully occupied community enjoys high demand due to attractive floorplans and privacy normally associated with single family home living, while also offering affordability and proximity to everything the area has to offer. By being in the heart of one of the most popular places to live in Florida, Milan Villas offers excellent, stable cash flow. Fully occupied with long term tenants and a desirable location! • Strong appeal to residents - featuring gated access, spacious, updated units, a community pool (unusual for 7 units), and reserved parking, these units enjoy high demand as annual or vacation rentals year round. • Stability - Townhomes are a high demand rental type in all markets, but particularly in the Tampa Bay area. Investors enjoy a solid and consistent tenant base, and residents the luxuries of a single family home with the conveniences/amenities that come with apartment living. • Location - Less than 2 miles from University of South Florida, Adventhealth Hospital Tampa, VA Medical Center and Moffitt Cancer Center - all major local employment and education centers, creating a broad local tenant base. Also, close to all local retail, dining, hospitality, office and world-famous Busch Gardens of Tampa Bay! • Flexibility - units are individually deeded, and four are currently fully furnished and operated as vacation rentals/Airbnb units. Can be sold off individually to owner/occupants or smaller investors if so desired. • Potential for additional units - Included in the sale is a 0.40 acre parcel behind the property, with the p
Building Features and Utilities
- Cable Available
- Electricity Connected
- Water Connected
- CBS
- Wood Frame
Rent Roll
| Unit type | Units | Beds / baths | Size | Rent per unit | Pro forma |
|---|---|---|---|---|---|
| 2 Bedroom | 5 | 2 / 1.5 | — | $146/mo | — |
| 3 Bedroom | 1 | 3 / 2 | — | $187/mo | — |
| Efficiency | 1 | — / 1 | — | $123/mo | — |
7 units. Reported rent $12,480 a year ($1,040 a month).
Unit types and rents as the listing reports them in the MLS. Ask the listing broker for the leases and the trailing twelve months before you rely on them.
Operating Statement
| Gross income | $147,840/yr |
|---|---|
| Property taxes | $11,331/yr |
| Insurance | $8,750/yr |
| Maintenance and repairs | $2,600/yr |
| Management | $7,390/yr |
| Total operating expenses | $40,943/yr |
| Net operating income | $106,897/yr |
| Cap rate at asking price | 8.1% |
Income and expenses as the seller entered them in the MLS, not verified. A buyer's lender underwrites from the actual statements and the property tax and insurance a new owner will pay.
About the Business at 12216 N 59th Street
- Included: Building, Fixtures, Land, Leases
Presented by
BreakThru Realty · (786) 914-1017
Courtesy of
TGG Home Authority LLC · Russell@thegoldsteinrealestategroup.com · Listing agent: Russell Lenard Goldstein
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright © 2026 BeachesMLS, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by BeachesMLS. Listings held by brokerage firms other than BreakThru Realty carry the name of the listing broker.
Request a tour or more information
Call or text BreakThru Realty at (786) 914-1017 or email sales@breakthrurealty.com to tour 12216 N 59th Street or to ask for what the listing leaves out: the rent roll, the leases and the operating statements.
Questions About 12216 N 59th Street
- How much is 12216 N 59th Street?
- 12216 N 59th Street is listed at $1,325,000, about $187 per square foot of building. Ask for the rent roll, the existing leases and the operating statements: for an income property those, more than the asking price, show what the building is worth.
- What is the cap rate on 12216 N 59th Street?
- The listing reports net operating income of $106,897 a year, a cap rate of about 8.1% at the $1,325,000 asking price. Seller-reported income is a starting point: verify it against the rent roll, the leases and the operating statements during due diligence.
- What is 12216 N 59th Street zoned?
- The listing reports zoning of RMC-20. Permitted uses, parking and signage are set by the city or county zoning code, so confirm your intended use with the local zoning office before you close.
- How big is 12216 N 59th Street?
- The listing reports 7,072 square feet of building.
- When was 12216 N 59th Street built?
- 12216 N 59th Street was built in 1984. For an older commercial building, ask about the roof, the HVAC and electrical systems, fire and life-safety compliance and whether a county building safety recertification is due.
- What are the property taxes on 12216 N 59th Street?
- The listing reports annual property taxes of $11,331 for 2025. Florida reassesses a non-homestead property after it sells, so budget for the new owner's bill rather than the current one.
- How do I tour 12216 N 59th Street?
- Request a tour from this page or call BreakThru Realty. A licensed agent will arrange access with the listing broker and ask for what the listing leaves out, such as the rent roll, the leases and the operating statements.
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