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    12400 Capri Cir N Treasure Island, FL 33706

    Sponsored
    For Sale
    $4,350,000

    Triplex - TREASURE ISLAND, FL

    Type:Triplex
    Property size:
    6,424 SF
    Lot size:
    0.32 Acres
    Days on Market:
    25
    Last Refresh:
    Feb 19 at 11:06 pm

    Property Features for 12400 Capri Cir N

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Property condition
    New Construction
    Standard status
    Active
    Security features
    Closed Circuit Camera(s), Smoke Detector(s)
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    10
    APN
    23-31-15-33650-000-0001
    Parking features
    Driveway, Garage, Garage - Attached, Guest, Off Street, Underground/Basement
    Pets allowed
    Yes
    Pool private
    1
    Interior features
    Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Primarybedroom Upstairs, Solid Surface Counters, Split Bedroom, Thermostat
    Exterior features
    Level, Paved, Balcony, Lighting, Outdoor Grill, Outdoor Shower, Rain Gutters, Sliding Doors, Sprinkler Metered, Storage, Pool, Dock
    Dock
    1
    Appliances
    Cooktop, Dishwasher, Dryer, Garbage Disposer, Microwave, Range, Refrigerator, Refrigerator - Wine Storage, Washer
    Size
    6,424 SF
    Lot size
    0.32 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air, Ductless, Multi Units
    Water front features
    Canal - Saltwater, Waterfront
    Water front
    1

    Building Details

    Year built
    2024
    Number of units
    3
    Flooring type
    Vinyl
    Building materials
    Block, Concrete, Stucco
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Ryan Bogden

    Keller Williams St. Pete Realty (727) 894-1600

    Listing agent Ryan Bogden (727) 894-1600 License #3509289

    Listing date Jan 26, 2026

    MLS# TB8396852 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Luxury Waterfront Triplex Estate

    This newly constructed, fully furnished luxury waterfront triplex, also known as Osprey Oasis, presents a rare opportunity. Completed in 2024, this multifamily property is designed for families desiring both shared vacation time and complete privacy. The estate spans over 13,000 total square feet, with approximately 7,000 square feet of air-conditioned living space. It features 10 bedrooms and 11.5 bathrooms and is being sold as one complete estate, thoughtfully designed as a legacy vacation retreat, multi-generational family compound, or executive/corporate getaway. The property comprises three distinct luxury residences: The Perch (3 bedrooms, 3 bathrooms, 1,757 sq ft) with floor-to-ceiling windows and panoramic Gulf views; The Jewel (4 bedrooms, 4 bathrooms, 3,043 sq ft) with three levels, a sunken wet bar, multiple private patios, and expansive entertaining spaces; and The Gem (3 bedrooms, 3 bathrooms, 1,636 sq ft), offering a warm, intimate retreat with a private patio, sunset, and water views. Each unit includes high-end finishes, stainless steel appliances, quartz countertops, spa-like bathrooms with soaking tubs, open-concept living areas filled with natural light, west-facing outdoor spaces, and private garage parking, with a total of four garage spaces across the estate. The property includes a heated 70-foot saltwater pool, Nordic spa, tiki bar, fitness center, BBQ/grill area, and outdoor shower. Boating enthusiasts will appreciate the 109-foot new seawall with three private boat slips, offering direct Gulf access. Zoned for monthly rentals, the property provides income-producing potential. It is built with concrete block construction, impact-resistant windows, smart home technology, hurricane-rated features, lush tropical landscaping, and ambient exterior lighting. The seller has elevator renderings and will install an elevator for the top unit. Located in Treasure Island, FL, minutes from John’s Pass dining and shopping and approximately 30 minutes from Tampa International Airport, on a lot of approximately 0.32 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Treasure Island
    County
    Pinellas
    State
    Florida
    Longitude
    -82.778217
    Latitude
    27.779731

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    FAQs

    What type of property is this?
    Triplex - Newly constructed, fully furnished waterfront triplex designed for luxury living.
    Where is this triplex located?
    The property is located at 12400 Capri Cir N Treasure Island, FL.
    What is the asking price?
    The asking price for this property is $4,350,000.
    What are key features of this property?
    This property features: - Newly constructed (2024) luxury waterfront compound featuring 10 bedrooms, 11.5 baths, and over 13,000 total square feet.; - Three distinct luxury residences in one estate, offering privacy and shared spaces.; - 109-foot new seawall with three private boat slips and direct Gulf access.
    (727) 310-1096
    Request Owner's contact information
    12400 Capri Cir N Treasure Island, FL 33706
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    Treasure Island, FL 33706
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    12400 Capri Cir N Treasure Island, FL 33706
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    We can help!
    Listing Contact
    Ryan Bogden
    Real Estate License ID: 3509289
    (727) 310-1096 (727) 894-1600
    Learn more
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