Updated Side-by-Side
For Sale
$399,900
10597/10595 101ST AVE, Seminole, FL 33772
Two leased units have separate water meters, private laundry arrangements, and distinct outdoor access.
Property Size1,720 SF
Days on Market10
Property Features for 10597/10595 101ST AVE
General Information
Standard status
Active
Size
1,720 SF
Total Parking Spaces
1
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,827
Building Details
Building Size
1,720 SF
Year Built
1982
Buildings
1
Listing Agency:
SERVICE NEAR REALTY
Listed By:
Lei Cheng · License #3606799
(813) 401-0576
Source:
Judibeck
Added: Sep 3
Changed: Sep 10
Last Checked: Sep 12 at 7:14AM
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 SERVICE NEAR REALTY
Investment Insights
Based on property information with market context.
This side-by-side duplex, built in 1982, includes a 1,048-square-foot two-bedroom, one-bath unit and a 672-square-foot one-bedroom, one-bath unit. The larger residence has a full kitchen, attached one-car garage with private laundry space, and a screened covered porch accessed from the primary bedroom. The smaller unit includes a full kitchen, gated backyard access, and a stackable washer and dryer in the bedroom. Both units are leased through 5/31/2027.
Recent property updates include a 2021 roof, 2020 A/C system, 2023 interior and exterior paint, new kitchen lighting, tile flooring throughout, and professionally glazed bathroom fixtures and countertops. Separate water meters have also been installed. The property is east of the 102nd Ave bridge near Seminole Blvd, with routes to Gulf beaches, grocery stores, restaurants, and Largo Mall.
Recent property updates include a 2021 roof, 2020 A/C system, 2023 interior and exterior paint, new kitchen lighting, tile flooring throughout, and professionally glazed bathroom fixtures and countertops. Separate water meters have also been installed. The property is east of the 102nd Ave bridge near Seminole Blvd, with routes to Gulf beaches, grocery stores, restaurants, and Largo Mall.
Key Highlights
- Two‑unit side‑by‑side duplex with 1,048 SF and 672 SF residences
- Both units leased through 5/31/2027
- Separate water meters recently installed
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
$20,077
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
5.02%
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%
$401,540
$401.5K
Cap Rate 7%
$286,814
$286.8K
Cap Rate 9%
$223,078
$223.1K
Market Conditions
NOI Build-Up for 1,720 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
$30.8K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$28.7K $16.67/SF
− OpEx
−$8.6K −$5.00/SF
NOI
$20.1K $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%
$401,540
Cap Rate 7%
$286,814
Cap Rate 9%
$223,078
Alternative Uses
Best Use
Multifamily LT 5
$286.8K
$251.0K – $334.6K
NOI $20,077 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$226.0K
$197.7K – $263.7K
NOI $15,819 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$447.4K
$391.5K – $522.0K
NOI $31,317 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 33772, FL
24,121
Population
12,340
Households
2
Avg Household Size
51
Median Age
32%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
4,551
Density / Sq Mi
$74,026
Median Household Income
$46,187
Median Earnings
$1,454
Median Rent
$327,000
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?
Duplex - Two leased units have separate water meters, private laundry arrangements, and distinct outdoor access.
Where is this duplex located?
The property is located at 10597/10595 101ST AVE Seminole, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with 1,048 SF and 672 SF residences; Both units leased through 5/31/2027; Separate water meters recently installed
