Four-Unit Income
For Sale
$629,000
110 NE MONROE Circle N, St Petersburg, FL 33702
Residential Income, ST PETERSBURG, FL
Property Size2,558 SF
Lot Size0.18 Acres
Price / SF$245.90
Days on Market155
Property Features for 110 NE MONROE Circle N
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 4, Bathroom 1
Interior features
Solid Surface Counters, Solid Wood Cabinets, Stone Counters
Exterior features
Courtyard, Fence, Private Entrance, Private Mailbox
Fencing
Fenced
Fireplace
1
Subdivision
NORTH ST PETERSBURG
Elementary school
Shore Acres Elementary-PN
Middle school
Meadowlawn Middle-PN
High school
Northeast High-PN
Directions
from I-275, take Exit 32 for 4th St N (if coming from Tampa) or Exit 26A for 54th Ave N (if coming from Downtown), proceed to 4th St N and head toward the 62nd Ave N intersection, then turn east onto 62nd Ave N, make a quick left onto 1st St N, and a final right onto NE Monroe Cir N, where you will find the property situated directly behind the Rumba Grill.
Standard status
Active
APN
31-30-17-61146-033-0070
Size
2,558 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NORTH ST PETERSBURG BLK 33, LOT 7
Tax Annual Amount
2989
Legal Description
NORTH ST PETERSBURG BLK 33, LOT 7
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Water source
Public
Amenities
shared courtyard
Building Details
Year built
1956
Floors in Building
1
Building materials
Stucco
Roof type
Shingle
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Megan Potila LLC · License #3325456
(727) 331-0348
Added: Apr 17
Changed: Sep 12
Last Checked: Sep 18 at 6:06PM
MLS# TB8500796
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 four-unit residential income property includes a renovated 1,274-square-foot main residence with two bedrooms, one bathroom, a kitchen, pantry and laundry room, formal dining room, foyer, living room, fireplace, and two private patios. The additional residences consist of an attached efficiency and two units in a separate building. One updated unit includes a flexible bonus room that can function as a second bedroom, office, walk-in closet, or storage area. Each unit has a private entrance and parking.
The property occupies a 0.18-acre lot at 110 NE MONROE Circle N in St. Petersburg. The grounds include a shared courtyard, fencing, updated landscaping, stucco construction, public water, and public sewer. A new roof and ductless mini-split AC systems were installed in 2026, while the main residence also received interior and exterior paint, a water heater, and new light fixtures. The property is approximately 10 minutes from downtown St. Pete, with highway access and nearby coffee shops, restaurants, spas, and a car wash.
The property occupies a 0.18-acre lot at 110 NE MONROE Circle N in St. Petersburg. The grounds include a shared courtyard, fencing, updated landscaping, stucco construction, public water, and public sewer. A new roof and ductless mini-split AC systems were installed in 2026, while the main residence also received interior and exterior paint, a water heater, and new light fixtures. The property is approximately 10 minutes from downtown St. Pete, with highway access and nearby coffee shops, restaurants, spas, and a car wash.
Key Highlights
- Four‑unit property with 2,558 square feet of building area
- 0.18‑acre lot with at least seven on‑site parking spaces
- Renovated 1,274 SF main house with two bedrooms and one bathroom
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
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
709
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
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?
Quadplex - Private-entry residences share a fenced courtyard, individual parking, and public water and sewer service.
Where is this quadplex located?
The property is located at 110 NE MONROE Circle 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: Four‑unit property with 2,558 square feet of building area; 0.18‑acre lot with at least seven on‑site parking spaces; Renovated 1,274 SF main house with two bedrooms and one bathroom
