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    The Largest CRE Database in the US with Over 1 Million Listings

    5050 74Th St N St Petersburg, FL 33709

    Sponsored
    For Sale
    $975,000

    Multi Family - ST PETERSBURG, FL

    Property size:
    3,409 SF
    Lot size:
    0.36 Acres
    Days on Market:
    40
    Last Refresh:
    Feb 7 at 1:06 am

    Property Features for 5050 74Th St N

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active
    Zoning
    R-4
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    9
    APN
    06-31-16-00000-220-1700
    Interior features
    Ceiling Fans(s)
    Exterior features
    Lighting, Sidewalk
    Size
    3,409 SF
    Lot size
    0.36 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water front features
    Canal - Saltwater, Canal Front, Waterfront
    Water front
    1

    Building Details

    Year built
    1980
    Number of units
    6
    Building materials
    Stucco
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Steven Sallo

    LPT Realty, LLC. (877) 366-2213

    Listing agent Steven Sallo (877) 366-2213 License #3550258

    Listing date Dec 30, 2025

    MLS# TB8303107 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

    Waterfront Multi-Unit Investment Opportunity

    This six-unit multi-family property in St. Petersburg, FL, presents an investment opportunity with 135 feet of water frontage. The property includes an additional waterfront lot. The property consists of three two-bedroom, one-bath units, two studio units, and one one-bedroom, one-bath unit. All units are currently occupied, with tenants on month-to-month agreements. Current rents total $8,950 per month, or $107,400 annually. There is an opportunity to renovate units and raise rents. Expenses include $250 per month for water and garbage pickup ($94 per month), totaling $4,128 annually. Annual taxes are $6,800, and insurance is $4,103 annually. The property has not flooded in the last 20 years. Upgraded plumbing and electrical systems were installed 4 years ago. Central air conditioning is present and is 4 years old. The property has a 10% cap rate with the potential to increase to 12-15% through rent increases and the addition of a laundry area. There is an opportunity for laundry in the back, as there is no laundry onsite currently. The property is zoned R-4 and sits on a 0.36-acre lot. The building size is 3409 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.741431
    Latitude
    27.817884

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    FAQs

    What type of property is this?
    Apartment building - Six-unit property with waterfrontage, high cap rate, and renovation potential.
    Where is this apartment building located?
    The property is located at 5050 74Th St N St Petersburg, FL.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: - 10% Cap Rate with potential to increase to 12-15%; - $92,368 Net Annual Profit based on current rents and expenses.; - Waterfront property with 135ft of waterfrontage and an additional waterfront lot included.
    (727) 260-2142
    Request Owner's contact information
    5050 74Th St N St Petersburg, FL 33709
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    St Petersburg, FL 33709
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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
    5050 74Th St N St Petersburg, FL 33709
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    We can help!
    Listing Contact
    Steven Sallo
    Real Estate License ID: 3550258
    (727) 260-2142
    Learn more
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