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    8630 Blind Pass Rd St Pete Beach, FL 33706

    Sponsored
    For Sale
    $3,400,000

    Multi Family - ST PETE BEACH, FL

    Property size:
    10,964 SF
    Lot size:
    0.50 Acres
    Days on Market:
    8
    Last Refresh:
    Jan 21 at 10:06 am

    Property Features for 8630 Blind Pass Rd

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    16
    APN
    25-31-15-78264-104-0010
    Interior features
    Ninguno
    Exterior features
    Balcony, Dog Run, Lighting, Private Mailbox, Rain Gutters, Sidewalk, Sliding Doors, Storage
    Size
    10,964 SF
    Lot size
    0.50 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1972
    Number of units
    14
    Building materials
    Block, Concrete, Stucco
    Roof type
    Built-Up
    Architectural style
    Other
    Additional Structures
    Kennel/Dog Run, Storage

    We can help!

    Listing Contact
    Kyle Collins

    RE/MAX Action First (727) 443-6700 [email protected]

    Listing agent Kyle Collins (727) 531-2006 License #3446512

    Listing date Jan 14, 2026

    MLS# TB8462050 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

    Resort-Style Apartments Near St Pete Beach

    The Palm Garden Apartments, located on St Pete Beach, presents an opportunity to acquire a resort-style multifamily property. Constructed in 1972, this meticulously maintained complex features fourteen units within two buildings. The unit mix includes twelve one-bedroom, one-bath apartments and two two-bedroom, two-bath apartments. All but three apartments have been renovated with contemporary kitchens and bathrooms, high-quality fixtures and cabinets, stainless steel appliances, stylish backsplash tile, granite countertops, and European-inspired tile and laminate flooring; bedrooms are carpeted. Recent capital improvements include new TPO roofs, new mansards, landscape upgrade with CitraBlue sod, replacement of hot water tanks, a resurfaced parking lot, upgraded fuse and breaker boxes, epoxy resin surfaced hallways, steps and walkways, and replacement of a number of AC units. Apartment layouts feature living rooms, dining areas, full-size bathrooms, and a private balcony or patio. Community amenities include twenty off-street parking spaces, landscaped grounds shaded by tropical trees, and onsite laundry facilities. Each apartment has central heating and air conditioning. Electricity is paid by tenants, while the owner provides city water, trash collection, and basic cable with internet service. Hot water is supplied by individual in-unit tanks. The property is located near Upham Beach Park and the Historic Corey Avenue Shopping District. The property is suited for investors seeking to establish a foothold in a coastal beach community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    St Pete Beach
    County
    Pinellas
    State
    Florida
    Longitude
    -82.755944
    Latitude
    27.750501

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    FAQs

    What type of property is this?
    Apartment building - Resort-style multifamily property near St Pete Beach with consistently reliable revenue.
    Where is this apartment building located?
    The property is located at 8630 Blind Pass Rd St Pete Beach, FL.
    What is the asking price?
    The asking price for this property is $3,400,000.
    What are key features of this property?
    This property features: - Resort-style multifamily investment property on World-Famous St Pete Beach, ensuring high tenant demand and consistent revenue.; - Turnkey property with recent capital improvements including new roofs, landscaping, and upgraded electrical systems, minimizing immediate maintenance costs.; - Most units renovated with contemporary luxury kitchens and bathrooms featuring high-quality finishes and stainless steel appliances.
    (727) 531-2006
    Request Owner's contact information
    8630 Blind Pass Rd St Pete Beach, FL 33706
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    St Pete Beach, 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
    8630 Blind Pass Rd St Pete Beach, FL 33706
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    We can help!
    Listing Contact
    Kyle Collins
    Real Estate License ID: 3446512
    (727) 531-2006
    Learn more
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