Duplex Property with
For Sale
$675,000
5617 GULFPORT Boulevard S, Gulfport, FL 33707
Residential Income, GULFPORT, FL
Property Size1,851 SF
Lot Size0.15 Acres
Price / SF$364.67
Days on Market388
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: Sep 7
Last Checked: Sep 12 at 6:06AM
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 1,851-square-foot duplex property includes a four-bedroom front area with an office and three bathrooms, along with two separate rear units configured with one bedroom and one bathroom each. The front portion can accommodate residential occupancy or commercial use, while the rear units have dedicated parking areas. The property includes block construction, central air, electric central heating, a shingle roof, ceiling fans, and a refrigerator. Public water and sewer serve the site.
Set on 0.15 acres with road frontage, the property includes ample parking and a sidewalk. Commercial/residential zoning supports a range of potential configurations, including a residence with additional units or a combined business and residential arrangement. On-street parking is also available.
Set on 0.15 acres with road frontage, the property includes ample parking and a sidewalk. Commercial/residential zoning supports a range of potential configurations, including a residence with additional units or a combined business and residential arrangement. On-street parking is also available.
Key Highlights
- 1,851 SF property on a 0.15‑acre lot
- Front area includes 4 bedrooms, an office, and 3 bathrooms
- Two rear units each offer 1 bedroom and 1 bathroom
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
$28,739
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
4.26%
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%
$574,780
$574.8K
Cap Rate 7%
$410,557
$410.6K
Cap Rate 9%
$319,322
$319.3K
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
$48.2K $26.04/SF
− Vacancy
−$9.9K −$5.34/SF
EGI
$38.3K $20.70/SF
− OpEx
−$9.6K −$5.18/SF
NOI
$28.7K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$574,780
Cap Rate 7%
$410,557
Cap Rate 9%
$319,322
Alternative Uses
Best Use
Office B
$410.6K
$359.2K – $479.0K
NOI $28,739 @ 7.0% cap · market cap 4.26%
Second Best
Mixed Use
$328.4K
$287.4K – $383.2K
NOI $22,989 @ 7.0% cap · market cap 3.41%
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
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
815
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Commercial/residential zoning supports a flexible layout combining front-area occupancy with two private rear units.
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: 1,851 SF property on a 0.15‑acre lot; Front area includes 4 bedrooms, an office, and 3 bathrooms; Two rear units each offer 1 bedroom and 1 bathroom
