Triplex with Detached
For Sale
$600,000
106 E BAY, Treasure Island, FL 33706
Three-unit beach property with two apartments in the main structure and a separate efficiency unit.
Property Size2,016 SF
Days on Market71
Property Features for 106 E BAY
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Investment
Property Condition
Severity
Major Repairs Needed
Evidence
The property sustained flood damage during Hurricane Helene and wind damage during Hurricane Milton and is currently vacant and in disrepair.
Taxes and HOA fees
Annual Taxes
$6,040
Building Details
Building Size
2,016 SF
Year Built
1938
Listing Agency:
REALTY BUY DESIGN
Listed By:
Tamara Perez
(813) 451-9201
Source:
Elliman
Added: Aug 19
Changed: Oct 25
Last Checked: Oct 26 at 6:33PM
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 REALTY BUY DESIGN
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1938-built triplex includes two apartments within the primary building and a detached efficiency unit. The property is vacant and in disrepair after flood damage from Hurricane Helene and wind damage from Hurricane Milton. Existing structures are positioned for renovation, replacement, or a new coastal development plan, subject to local approvals and building requirements.
The property is located at 106 E BAY in Treasure Island, within Sunset Beach and approximately a 2-minute walk from the beach. Restaurants, coffee shops, bars, live music, and other beach-oriented amenities are identified nearby. The property was previously operated as a short-term rental. Conceptual renderings showing elevated structures are included for inspiration only and do not depict existing conditions.
The property is located at 106 E BAY in Treasure Island, within Sunset Beach and approximately a 2-minute walk from the beach. Restaurants, coffee shops, bars, live music, and other beach-oriented amenities are identified nearby. The property was previously operated as a short-term rental. Conceptual renderings showing elevated structures are included for inspiration only and do not depict existing conditions.
Key Highlights
- Three‑unit configuration with two apartments in the main building and a detached efficiency unit
- 1938 construction year
- Approximately a 2‑minute walk to Sunset Beach
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,532
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,640
$470.6K
Cap Rate 7%
$336,171
$336.2K
Cap Rate 9%
$261,467
$261.5K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$36.0K $17.88/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$33.6K $16.67/SF
− OpEx
−$10.1K −$5.00/SF
NOI
$23.5K $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 Rate 5%
$470,640
Cap Rate 7%
$336,171
Cap Rate 9%
$261,467
Alternative Uses
Best Use
Multifamily LT 5
$336.2K
$294.2K – $392.2K
NOI $23,532 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$264.9K
$231.8K – $309.0K
NOI $18,541 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$524.4K
$458.8K – $611.8K
NOI $36,706 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
Explore this area
Business Placement
Demographics for 33706, FL
15,309
Population
14,199
Households
1.1
Avg Household Size
60
Median Age
54%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,138
Density / Sq Mi
$97,364
Median Household Income
$80,504
Median Earnings
$1,646
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit beach property with two apartments in the main structure and a separate efficiency unit.
Where is this triplex located?
The property is located at 106 E BAY Treasure Island, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Three‑unit configuration with two apartments in the main building and a detached efficiency unit; 1938 construction year; Approximately a 2‑minute walk to Sunset Beach
