Updated Triplex with Coin
For Sale
$635,000
1012 GRANVILLE Court N, St Petersburg, FL 33701
Residential Income, ST PETERSBURG, FL
Property Size1,988 SF
Lot Size0.07 Acres
Price / SF$319.42
Days on Market263
Property Features for 1012 GRANVILLE Court N
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
MULTI FAM
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2
Pets allowed
Yes
Interior features
Ceiling Fans(s)
Exterior features
Balcony, Sidewalk
Fireplace
1
Appliances
Range, Refrigerator
Subdivision
MATHIS
Lot features
City Limits, Sidewalk, Paved
Directions
From 9th Ave N go north on Granville Ct N to address on the left
Standard status
Active
APN
18-31-17-55980-000-0130
Size
1,988 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MATHIS' N .50FT OF W 1/2 OF LOT 11 & LOT 13 LESS S .50FT OF E 1/2
Tax Annual Amount
8300
Legal Description
MATHIS' N .50FT OF W 1/2 OF LOT 11 & LOT 13 LESS S .50FT OF E 1/2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Ductless (Heating), Electric (Heating)
Cooling system
Window Unit(s), Central Air, Wall/Window Unit(s)
Water source
Public
Amenities
coin-operated laundry
Building Details
Year built
1925
Floors in Building
2
Number of units
3
Flooring type
Wood, Laminate
Building materials
Block, Frame
Roof type
Shingle
Listing Agency:
RE/MAX ACTION FIRST OF FLORIDA · RE/MAX International
(727) 466-0800
Listed By:
Spyro Lefkimiotis · License #3093054
(727) 647-0819
Added: Dec 16, 2025
Changed: Sep 4
Last Checked: Sep 5 at 2:06AM
MLS# TB8455452
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 1,988-square-foot triplex, built in 1925, contains three separate residences: a two-bedroom, one-bath downstairs unit, a three-bedroom, one-bath upstairs unit, and a studio. Recent property improvements include a roof replacement in 2023 and new interior and exterior paint. The building also has a dedicated utility room configured for coin-operated laundry equipment, along with a balcony, sidewalk access, range, and refrigerator. Construction includes block and frame components, with laminate and wood flooring.
The property is located in Historic Uptown near Crescent Lake Park, Downtown St. Petersburg, restaurants, shopping, and cultural attractions. I-275 provides regional connectivity, while Tampa and St. Pete-Clearwater airports are accessible from the area. Zoning is identified as MULTI FAM, and the property is served by public water and public sewer.
The property is located in Historic Uptown near Crescent Lake Park, Downtown St. Petersburg, restaurants, shopping, and cultural attractions. I-275 provides regional connectivity, while Tampa and St. Pete-Clearwater airports are accessible from the area. Zoning is identified as MULTI FAM, and the property is served by public water and public sewer.
Key Highlights
- Three‑unit configuration with a 2‑bedroom unit, 3‑bedroom unit, and studio
- 1,988 square feet on a 0.07‑acre lot
- New roof completed in 2023
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
$23,205
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
3.65%
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%
$464,100
$464.1K
Cap Rate 7%
$331,500
$331.5K
Cap Rate 9%
$257,833
$257.8K
Market Conditions
NOI Build-Up for 1,988 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
$35.5K $17.88/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$33.1K $16.67/SF
− OpEx
−$9.9K −$5.00/SF
NOI
$23.2K $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%
$464,100
Cap Rate 7%
$331,500
Cap Rate 9%
$257,833
Alternative Uses
Best Use
Multifamily LT 5
$331.5K
$290.1K – $386.8K
NOI $23,205 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$261.2K
$228.6K – $304.7K
NOI $18,284 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$517.1K
$452.5K – $603.3K
NOI $36,197 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,766
Businesses Nearby
Explore this area
Business Placement
Demographics for 33701, FL
19,137
Population
13,434
Households
1.4
Avg Household Size
48
Median Age
55%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
7,088
Density / Sq Mi
$69,098
Median Household Income
$48,072
Median Earnings
$1,531
Median Rent
$590,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct residences include a studio and two larger apartments, with public utilities and natural gas service.
Where is this triplex located?
The property is located at 1012 GRANVILLE Court N St Petersburg, FL.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Three‑unit configuration with a 2‑bedroom unit, 3‑bedroom unit, and studio; 1,988 square feet on a 0.07‑acre lot; New roof completed in 2023
