Triplex with New
For Sale
Under Contract
$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 Market270
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 2, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 4
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 Under Contract
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
Electric (Heating), Central, Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air
Water source
Public
Amenities
coin-operated washers and dryers
Building Details
Year built
1925
Floors in Building
2
Number of units
3
Flooring type
Laminate, Wood
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 11
Last Checked: Sep 12 at 3:06AM
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 contains three separate residences: a 2-bedroom, 1-bath downstairs unit, a 3-bedroom, 1-bath upstairs unit, and a studio apartment. The 0.07-acre property was built in 1925 and includes block and frame construction, laminate and wood flooring, balconies, and a shingle roof replaced in 2023. Interior and exterior paint have also been refreshed.
A dedicated utility room is configured for coin-operated washers and dryers, while natural gas is connected to the property. Public water and public sewer serve the site. The property is located on Granville Court N in St. Petersburg's Historic Uptown, near Crescent Lake Park, downtown, restaurants, shopping, and cultural attractions, with access to I-275 and both Tampa and St. Pete/Clearwater airports.
A dedicated utility room is configured for coin-operated washers and dryers, while natural gas is connected to the property. Public water and public sewer serve the site. The property is located on Granville Court N in St. Petersburg's Historic Uptown, near Crescent Lake Park, downtown, restaurants, shopping, and cultural attractions, with access to I-275 and both Tampa and St. Pete/Clearwater airports.
Key Highlights
- Three‑unit layout with 2‑bedroom, 1‑bath; 3‑bedroom, 1‑bath; and studio residences
- 1,988 square feet on a 0.07‑acre lot
- New shingle roof installed 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
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Current Use
Lease Details
3
Residential units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate apartments offer two-bedroom, three-bedroom, and studio layouts with flexible rental configurations.
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 layout with 2‑bedroom, 1‑bath; 3‑bedroom, 1‑bath; and studio residences; 1,988 square feet on a 0.07‑acre lot; New shingle roof installed in 2023
