Multifamily
For Sale
$499,999
1200 40TH STREET S, St Petersburg, FL 33711
Established multifamily asset in St. Petersburg, Florida, constructed in 1949.
Property Size2,160 SF
Price / SF$231.48
Days on Market147
Property Features for 1200 40TH STREET S
General Information
Standard status
Active
Size
2,160 SF
Additional Details
Asking Price
$450,000
Taxes and HOA fees
Annual Taxes
$3,485
Amenities
Central Air
Central
Microwave, Refrigerator
Building Details
Building Size
2,160 SF
Year Built
1949
Stories
2
Listing Agency:
INSTA REAL ESTATE SOLUTIONS
(727) 463-2274
Listed By:
Michael Schultz
(727) 463-2274
Source:
Evrealestate
Added: Apr 7
Changed: Aug 28
Last Checked: Aug 31 at 2:21PM
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 INSTA REAL ESTATE SOLUTIONS
Investment Insights
Based on property information with market context.
This multifamily property at 1200 40TH S in St. Petersburg, Florida, was constructed in 1949. The property is identified as a multifamily asset and is located in ZIP code 33711.
Alternative transportation scores include a bike score of 81, classified as Very Bikeable, a walk score of 40, classified as Car-Dependent, and a transit score of 42, classified as Some Transit.
Alternative transportation scores include a bike score of 81, classified as Very Bikeable, a walk score of 40, classified as Car-Dependent, and a transit score of 42, classified as Some Transit.
Key Highlights
- Multifamily property at 1200 40TH S, St. Petersburg, FL 33711
- Constructed in 1949
- Bike score of 81; classified as Very Bikeable
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
$19,866
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
3.97%
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%
$397,320
$397.3K
Cap Rate 7%
$283,800
$283.8K
Cap Rate 9%
$220,733
$220.7K
Market Conditions
NOI Build-Up for 2,160 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
$38.9K $18.00/SF
− Vacancy
−$2.8K −$1.28/SF
EGI
$36.1K $16.72/SF
− OpEx
−$16.3K −$7.52/SF
NOI
$19.9K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$397,320
Cap Rate 7%
$283,800
Cap Rate 9%
$220,733
Alternative Uses
Best Use
Apartment 5plus
$283.8K
$248.3K – $331.1K
NOI $19,866 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$561.8K
$491.6K – $655.5K
NOI $39,328 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 33711, FL
20,121
Population
9,522
Households
2.1
Avg Household Size
41
Median Age
32%
College-Educated
96%
High-School Grad
4.7 sq mi
ZIP Area
4,281
Density / Sq Mi
$68,295
Median Household Income
$27,156
Median Earnings
$1,819
Median Rent
$253,100
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?
Multifamily property - Established multifamily asset in St. Petersburg, Florida, constructed in 1949.
Where is this multifamily property located?
The property is located at 1200 40TH STREET S St Petersburg, FL.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Multifamily property at 1200 40TH S, St. Petersburg, FL 33711; Constructed in 1949; Bike score of 81; classified as Very Bikeable
