Quadplex with Gulf
For Sale
$1,299,000
40 77TH Avenue, Treasure Island, FL 33706
Residential Income, TREASURE ISLAND, FL
Property Size5,168 SF
Lot Size0.13 Acres
Price / SF$251.35
Days on Market135
Property Features for 40 77TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
9
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 3, Bathroom 7, Bedroom 5, Bedroom 2, Bathroom 4, Bathroom 6, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 4, Bedroom 6, Bedroom 7, Bedroom 8, Bathroom 2, Bathroom 8, Bathroom 5, Bedroom 9
Window features
Shutters
Patio and Porch features
Patio
Interior features
Ceiling Fans(s), High Ceilings, Open Floorplan, Vaulted Ceiling(s), Window Treatments
Exterior features
Balcony, Fence, Hurricane Shutters, Storage
Fencing
Fenced
Appliances
Built-In Oven, Cooktop, Dishwasher, Dryer, Range, Refrigerator, Washer
Subdivision
SUNSET BEACH
Lot features
City Limits
View
Water, Ocean
Directions
Gulf Blvd to South on West Gulf Blvd to 77th Ave to address. 77th is the last East-West Street on Sunset Beach.
Special listing conditions
Probate Listing
Standard status
Active
APN
36-31-15-87462-000-0220
Size
5,168 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNSET BEACH UNIT 5 LOT 22 & E 22FT OF LOT 21
Tax Annual Amount
8031
Legal Description
SUNSET BEACH UNIT 5 LOT 22 & E 22FT OF LOT 21
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
common area laundry
covered porch
Building Details
Year built
1951
Flooring type
Wood
Building materials
Block, Wood Siding
Roof type
Built-Up
Additional Structures
Storage
Listing Agency:
COMPASS FLORIDA LLC
(727) 339-7902
Listed By:
Dawn Fader · License #3112950
(727) 687-2522
Added: May 1
Changed: Sep 5
Last Checked: Sep 12 at 3:06AM
MLS# TB8503930
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.
Built in 1951, this 6,650-square-foot property contains 5,168 heated square feet on a 57-by-100-foot lot. The upper level includes more than 2,700 square feet configured as a 3-bedroom, 2-bath unit and a 2-bedroom, 1-bath unit, with wood flooring, vaulted ceilings, an open layout, and extensive windows. A covered porch exceeding 900 square feet provides Gulf views and hurricane-shutter protection.
The lower level is arranged with four 1-bedroom, 1-bath units and one efficiency unit, along with shared laundry and storage space and a 1-car garage. Additional features include a fenced lot, public water and sewer, window or wall-mounted cooling units, and a built-up roof.
The ground floor sustained impact from Hurricane Helene and has not been remediated. The property is offered as is, and the buyer is responsible for confirming building potential with the City of Treasure Island.
The lower level is arranged with four 1-bedroom, 1-bath units and one efficiency unit, along with shared laundry and storage space and a 1-car garage. Additional features include a fenced lot, public water and sewer, window or wall-mounted cooling units, and a built-up roof.
The ground floor sustained impact from Hurricane Helene and has not been remediated. The property is offered as is, and the buyer is responsible for confirming building potential with the City of Treasure Island.
Key Highlights
- 6,650 total square feet with 5,168 heated square feet
- Upper level exceeds 2,700 square feet and includes 3‑bedroom and 2‑bedroom units
- Lower level has four 1‑bedroom units plus one efficiency unit
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
$60,323
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
4.64%
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%
$1,206,460
$1.2M
Cap Rate 7%
$861,757
$861.8K
Cap Rate 9%
$670,256
$670.3K
Market Conditions
NOI Build-Up for 5,168 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
$92.4K $17.88/SF
− Vacancy
−$6.2K −$1.21/SF
EGI
$86.2K $16.67/SF
− OpEx
−$25.9K −$5.00/SF
NOI
$60.3K $11.67/SF
Area
Pinellas 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%
$1,206,460
Cap Rate 7%
$861,757
Cap Rate 9%
$670,256
Alternative Uses
Best Use
Multifamily LT 5
$861.8K
$754.0K – $1.01M
NOI $60,323 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$679.0K
$594.1K – $792.2K
NOI $47,531 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,097 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
Explore this area
Business Placement
Demographics for 33706, FL
15,309
Population
14,199
Households
1.1
Avg Household Size
60
Median Age
54%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,138
Density / Sq Mi
$97,364
Median Household Income
$80,504
Median Earnings
$1,646
Median Rent
$616,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Multi-unit coastal property with flexible living arrangements, a covered porch, and public utilities.
Where is this quadplex located?
The property is located at 40 77TH Avenue Treasure Island, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 6,650 total square feet with 5,168 heated square feet; Upper level exceeds 2,700 square feet and includes 3‑bedroom and 2‑bedroom units; Lower level has four 1‑bedroom units plus one efficiency unit
