Vacant Three-Bedroom Duplex with
For Sale
$618,000
1173 GRANADA Street, Clearwater, FL 33755
MULTI_FAMILY - CLEARWATER, FL
Property Size2,064 SF
Lot Size0.15 Acres
Price / SF$299.42
Days on Market60
Property Features for 1173 GRANADA Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 3
Parking features
Off Street, Covered
Interior features
Ceiling Fans(s)
Exterior features
Private Mailbox, Sidewalk
Appliances
Dishwasher, Electric Water Heater
Subdivision
LA JOLLA SUB
Lot features
Street Dead- End
Directions
North on Douglas Ave towards Dunedin. Left on Granada Street.
Standard status
Active
APN
03-29-15-47430-005-0040
Size
2,064 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LA JOLLA SUB BLK E, LOT 4
Tax Annual Amount
4389
Legal Description
LA JOLLA SUB BLK E, LOT 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1968
Flooring type
Laminate
Building materials
Stucco
Roof type
Shingle
Listing Agency:
STONEBRIDGE REAL ESTATE CO
(727) 443-5000
Listed By:
Patrick Murray · License #3114144
(727) 692-1100
Added: Jun 12
Changed: Aug 3
Last Checked: Aug 10 at 7:06AM
MLS# TB8518306
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 vacant duplex offers two matching unit layouts, with each unit featuring three bedrooms and one bathroom. The property includes central heat and central air, ceiling fans, and a dishwasher plus electric water heater. Interior finishes include laminate flooring, and the exterior is constructed of stucco.
Set on a 0.15-acre lot, the duplex at 1173 Granada Street is positioned next to the Pinellas Trail bike path. Sidewalks and a private mailbox support everyday convenience, while parking is available off street with covered carport space for two cars.
Built in 1968, the home is served by public water and public sewer, with cable available. Additional considerations include the covered, off-street parking setup and the straightforward, symmetrical two-unit configuration.
Set on a 0.15-acre lot, the duplex at 1173 Granada Street is positioned next to the Pinellas Trail bike path. Sidewalks and a private mailbox support everyday convenience, while parking is available off street with covered carport space for two cars.
Built in 1968, the home is served by public water and public sewer, with cable available. Additional considerations include the covered, off-street parking setup and the straightforward, symmetrical two-unit configuration.
Key Highlights
- Two vacant duplex units, each with three bedrooms and one bathroom
- 0.15‑acre lot
- Carport provides covered parking for two cars with off‑street parking
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
$28,469
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
4.61%
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%
$569,380
$569.4K
Cap Rate 7%
$406,700
$406.7K
Cap Rate 9%
$316,322
$316.3K
Market Conditions
NOI Build-Up for 2,064 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
$43.3K $21.00/SF
− Vacancy
−$2.7K −$1.30/SF
EGI
$40.7K $19.70/SF
− OpEx
−$12.2K −$5.91/SF
NOI
$28.5K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /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%
$569,380
Cap Rate 7%
$406,700
Cap Rate 9%
$316,322
Alternative Uses
Best Use
Multifamily LT 5
$406.7K
$355.9K – $474.5K
NOI $28,469 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$363.9K
$318.4K – $424.6K
NOI $25,474 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$579.1K
$506.7K – $675.6K
NOI $40,535 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 33755, FL
28,360
Population
11,872
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,156
Density / Sq Mi
$59,613
Median Household Income
$36,206
Median Earnings
$1,340
Median Rent
$300,200
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 - A vacant duplex offering two three-bedroom, one-bath units with off-street, covered carport parking.
Where is this duplex located?
The property is located at 1173 GRANADA Street Clearwater, FL.
What is the asking price?
The asking price for this property is $618,000.
What are key features of this property?
This property features: Two vacant duplex units, each with three bedrooms and one bathroom; 0.15‑acre lot; Carport provides covered parking for two cars with off‑street parking
