Duplex with Commercial-Residential
For Sale
$675,000
5617 GULFPORT Boulevard S, Gulfport, FL 33707
MULTI_FAMILY - GULFPORT, FL
Property Size1,851 SF
Lot Size0.15 Acres
Price / SF$364.67
Days on Market358
Property Features for 5617 GULFPORT Boulevard S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Interior features
Ceiling Fans(s)
Exterior features
Sidewalk
Appliances
Refrigerator
Subdivision
PASADENA GARDENS GULFVIEW SEC
Directions
Gulfport Blvd s to property on the North side of the Blvd.
Standard status
Active
APN
28-31-16-67338-037-0110
Size
1,851 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PASADENA GARDENS GULFVIEW SEC BLK 37, W 25FT OF LOT 11 & E 27FT OF LOT 12
Tax Annual Amount
3968
Legal Description
PASADENA GARDENS GULFVIEW SEC BLK 37, W 25FT OF LOT 11 & E 27FT OF LOT 12
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1954
Number of units
2
Building materials
Block
Roof type
Shingle
Listing Agency:
GULFPORT REALTY
(727) 289-5500
Listed By:
Stacey Purcell · License #3218777
(727) 744-0636
Added: Aug 21, 2025
Changed: Aug 5
Last Checked: Aug 13 at 5:06AM
MLS# TB8420149
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.
This duplex-style property was built in 1954 with block construction and features central air conditioning and electric heating. Interior amenities include ceiling fans, and the home includes a refrigerator. The property has public water and public sewer, a shingle roof, and sidewalk along the exterior. Parking is available on street.
The property is zoned for commercial/residential use and is described as having strong road frontage and exposure, supporting mixed-use concepts. The front area is described as having ample parking and visibility, with the potential to be used for either larger single-family living or commercial purposes. A private back area includes two 1-bedroom, 1-bathroom Airbnb units, each described as having its own parking.
With a configuration that can be used in multiple ways, the layout provides flexibility for an owner-operator or a tenant strategy that uses the front and back areas differently.
The property is zoned for commercial/residential use and is described as having strong road frontage and exposure, supporting mixed-use concepts. The front area is described as having ample parking and visibility, with the potential to be used for either larger single-family living or commercial purposes. A private back area includes two 1-bedroom, 1-bathroom Airbnb units, each described as having its own parking.
With a configuration that can be used in multiple ways, the layout provides flexibility for an owner-operator or a tenant strategy that uses the front and back areas differently.
Key Highlights
- Zoned for commercial/residential use with road frontage and exposure
- Block construction built in 1954
- Central air and electric heating
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
$21,606
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
3.20%
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%
$432,120
$432.1K
Cap Rate 7%
$308,657
$308.7K
Cap Rate 9%
$240,067
$240.1K
Market Conditions
NOI Build-Up for 1,851 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
$33.1K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$30.9K $16.67/SF
− OpEx
−$9.3K −$5.00/SF
NOI
$21.6K $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%
$432,120
Cap Rate 7%
$308,657
Cap Rate 9%
$240,067
Alternative Uses
Best Use
Multifamily LT 5
$308.7K
$270.1K – $360.1K
NOI $21,606 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$243.2K
$212.8K – $283.7K
NOI $17,024 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$481.5K
$421.3K – $561.7K
NOI $33,702 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Explore this area
Business Placement
Demographics for 33707, FL
24,646
Population
16,579
Households
1.5
Avg Household Size
58
Median Age
40%
College-Educated
95%
High-School Grad
5.3 sq mi
ZIP Area
4,650
Density / Sq Mi
$68,560
Median Household Income
$45,513
Median Earnings
$1,512
Median Rent
$344,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Block-built duplex with commercial-residential zoning, central HVAC, and public water and sewer service.
Where is this duplex located?
The property is located at 5617 GULFPORT Boulevard S Gulfport, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Zoned for commercial/residential use with road frontage and exposure; Block construction built in 1954; Central air and electric heating
