Renovated 4-Unit Property with
For Sale
$629,000
110 NE Monroe Cir N, St Petersburg, FL 33702
Four residences provide private entrances, on-site parking, and access to a shared courtyard with additional outdoor areas.
Property Size2,558 SF
Lot Size0.18 Acres
Price / SF$245.90
Days on Market20
Property Features for 110 NE Monroe Cir N
General Information
Standard status
Active
Size
2,558 SF
Lot size
0.18 Acres
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
shared courtyard
private patios
fireplace
Building Details
Year Built
1956
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Megan Potila LLC
Source:
Flflourish
Added: Aug 10
Changed: Aug 29
Last Checked: Aug 29 at 4:38PM
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 DALTON WADE INC
Investment Insights
Based on property information with market context.
This 2,558-square-foot quadplex contains a renovated 1,274-square-foot main residence plus three additional units. The primary home includes two bedrooms, one bathroom, a kitchen, pantry and laundry room, formal dining area, foyer, living room with fireplace, and two private patios. The remaining accommodations include an attached efficiency and two units in a separate rear building; one of those units has an adaptable bonus room. Each residence has its own entrance and parking.
Major property improvements include a new roof and new mini-split AC systems installed in 2026, along with interior and exterior paint, new stucco, updated landscaping, light fixtures, and a water heater. The 7,915-square-foot lot features a shared courtyard and at least seven on-site parking spaces. The property is approximately 10 minutes from downtown St. Pete, with highway access and walkable proximity to coffee shops, restaurants, spas, and a car wash.
Major property improvements include a new roof and new mini-split AC systems installed in 2026, along with interior and exterior paint, new stucco, updated landscaping, light fixtures, and a water heater. The 7,915-square-foot lot features a shared courtyard and at least seven on-site parking spaces. The property is approximately 10 minutes from downtown St. Pete, with highway access and walkable proximity to coffee shops, restaurants, spas, and a car wash.
Key Highlights
- Quadplex with 2,558 SF across four units
- Renovated 1,274 SF main residence with 2 bedrooms and 1 bathroom
- New roof and mini‑split AC systems installed in 2026
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
$29,858
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
4.75%
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%
$597,160
$597.2K
Cap Rate 7%
$426,543
$426.5K
Cap Rate 9%
$331,756
$331.8K
Market Conditions
NOI Build-Up for 2,558 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
$45.7K $17.88/SF
− Vacancy
−$3.1K −$1.21/SF
EGI
$42.7K $16.67/SF
− OpEx
−$12.8K −$5.00/SF
NOI
$29.9K $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%
$597,160
Cap Rate 7%
$426,543
Cap Rate 9%
$331,756
Alternative Uses
Best Use
Multifamily LT 5
$426.5K
$373.2K – $497.6K
NOI $29,858 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$336.1K
$294.1K – $392.1K
NOI $23,526 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$665.4K
$582.2K – $776.3K
NOI $46,575 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Explore this area
Business Placement
Demographics for 33702, FL
29,996
Population
16,240
Households
1.8
Avg Household Size
44
Median Age
38%
College-Educated
91%
High-School Grad
10.4 sq mi
ZIP Area
2,884
Density / Sq Mi
$65,503
Median Household Income
$43,860
Median Earnings
$1,369
Median Rent
$293,700
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?
Quadplex - Four residences provide private entrances, on-site parking, and access to a shared courtyard with additional outdoor areas.
Where is this quadplex located?
The property is located at 110 NE Monroe Cir N St Petersburg, FL.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Quadplex with 2,558 SF across four units; Renovated 1,274 SF main residence with 2 bedrooms and 1 bathroom; New roof and mini‑split AC systems installed in 2026
