Triplex with Three Separate
For Sale
$635,000
1012 GRANVILLE CT N, St Petersburg, FL 33701
Triplex with three separate apartments, including a downstairs 2-bedroom unit, an upstairs 3-bedroom unit, and a studio.
Property Size1,988 SF
Days on Market270
Property Features for 1012 GRANVILLE CT N
General Information
Standard status
Active
Size
1,988 SF
Property subtype
Triplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,300
Amenities
dedicated utility room with coin-operated washers and dryers
natural gas connected
Building Details
Building Size
1,988 SF
Year Built
1925
Tenancy
Multi
Listing Agency:
RE/MAX ACTION FIRST OF FLORIDA
Listed By:
Spyro Lefkimiotis · License #3093054
(727) 647-0819
Source:
Judibeck
Added: Dec 16, 2025
Changed: Aug 31
Last Checked: Sep 11 at 1:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX ACTION FIRST OF FLORIDA
Investment Insights
Based on property information with market context.
This triplex includes three separate units: a 2 bedroom, 1 bath unit on the lower level, a 3 bedroom, 1 bath unit on the upper level, and a studio apartment. Recent improvements include a new roof in 2023 and fresh interior and exterior paint. The property also includes a dedicated utility room set up for coin-operated washers and dryers, and natural gas is connected.
The property is located on a quiet, tree-lined street in Historic Uptown, with convenient access to I-275. It is described as being just minutes from Crescent Lake Park and Downtown St. Petersburg, as well as nearby restaurants, shopping, and cultural attractions. Access to both Tampa and St. Pete/Clearwater airports is also noted as convenient.
With three distinct floor plans and dedicated shared laundry setup, the building is designed to support flexible rental arrangements.
The property is located on a quiet, tree-lined street in Historic Uptown, with convenient access to I-275. It is described as being just minutes from Crescent Lake Park and Downtown St. Petersburg, as well as nearby restaurants, shopping, and cultural attractions. Access to both Tampa and St. Pete/Clearwater airports is also noted as convenient.
With three distinct floor plans and dedicated shared laundry setup, the building is designed to support flexible rental arrangements.
Key Highlights
- 1925‑built triplex with three separate units: downstairs 2BR/1BA, upstairs 3BR/1BA, and a studio
- New roof installed in 2023, plus fresh interior and exterior paint
- Dedicated utility room set up for coin‑operated washers and dryers
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
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three separate apartments, including a downstairs 2-bedroom unit, an upstairs 3-bedroom unit, and a studio.
Where is this triplex located?
The property is located at 1012 GRANVILLE CT 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: 1925‑built triplex with three separate units: downstairs 2BR/1BA, upstairs 3BR/1BA, and a studio; New roof installed in 2023, plus fresh interior and exterior paint; Dedicated utility room set up for coin‑operated washers and dryers
