Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3863 ISLAND WAY St Petersburg, FL 33705

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $275,000

    Updated townhouse with new AC, flooring, and included HOA.

    Type:Condo/Townhome
    Property size:
    1,345 SF
    Lot size:
    0.02 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    18
    Last Refresh:
    Apr 5 at 9:39 pm

    Property Features for 3863 ISLAND WAY

    General Information

    Standard status
    Active
    Size
    1,345 SF
    Lot size
    0.02 Acres
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    Robert McNaughton

    Listing agent Robert McNaughton License #3377063

    Listing office DALTON WADE INC

    Listing date Mar 24, 2026

    Source Exitrealty

    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

    Overview

    Move-In Ready Townhouse in St. Pete

    This move-in ready townhouse features bamboo flooring and freshly painted walls. The kitchen includes granite counters and stainless steel and black appliances. New carpet has been installed upstairs. A new air conditioner is in place. The bathrooms have been updated with quartz counter topped vanities, and the master bath includes an oversized tub. Lawn care, exterior maintenance, trash, and water bills are included in the HOA. The property is located in St. Petersburg, FL and has a total size of 1345 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.63477
    Latitude
    27.734362

    Nearby Similar for Sale

    • $920,000
      2,496 SF

      Turnkey Medical Office in St. Petersburg

      Fully built-out medical office with flexible layout and ample parking.
      1152 62ND AVENUE S, ST PETERSBURG, FL 33705
      View Details
    • $461,000
      1,740 SF

      St. Petersburg Freestanding Commercial Building

      Freestanding commercial building near downtown St. Petersburg with retail potential.
      1664 15TH AVENUE S, ST PETERSBURG, FL 33712
      View Details
    • $900,000
      4,152 SF

      High-Visibility Corner Office Building

      Prominent office building on a high-traffic corner lot.
      2901 58TH AVENUE N, ST PETERSBURG, FL 33714
      View Details
    • $385,000
      1,832 SF

      Mixed-Use Commercial Opportunity

      Mixed-use property suitable for various commercial purposes.
      5201 66TH WAY N, ST PETERSBURG, FL 33709
      View Details
    • $3,250,000
      5,050 SF

      Central Avenue Commercial Property For Sale

      Income-producing commercial asset suitable for various uses in St. Petersburg.
      1980 CENTRAL AVENUE, ST PETERSBURG, FL 33712
      View Details
    • $549,000
      1,338 SF

      Thriving Pub in St. Petersburg

      Turn-key bar with loyal clientele and strong financial growth.
      3007 6TH STREET S, ST PETERSBURG, FL 33705
      View Details
    • $949,000
      1,528 SF

      Commercial Property with Fenced Storage

      Commercial property with office/workshop, fenced yard on 0.41 acres.
      6600 HAINES ROAD N, ST PETERSBURG, FL 33702
      View Details
    • $1,550,000
      1,472 SF

      Boutique Medical Suite Investment

      Fully leased medical and aesthetic suites in desirable St. Petersburg.
      2200 49TH STREET N, ST PETERSBURG, FL 33710
      View Details
    • $829,999
      1,885 SF

      Versatile Commercial Property in St. Pete

      Commercial property suitable for warehouse, retail, distribution, storage, or live-work.
      5205 HAINES ROAD N, ST PETERSBURG, FL 33714
      View Details
    • $1,500,000
      4,191 SF

      Free-Standing Medical Office Building

      Prime corner lot medical office with excellent visibility.
      4855 1ST AVENUE N, ST PETERSBURG, FL 33713
      View Details
    • $500,000
      494 SF

      Versatile Commercial Space in St. Petersburg

      Adaptable commercial property in a dynamic and growing Tampa Bay market.
      195 DR MARTIN LUTHER KING JR STREET N, ST PETERSBURG, FL 33701
      View Details
    • $1,050,000
      2,972 SF

      Versatile Mixed-Use Property For Sale

      Unique live/work property with business potential in North Kenwood.
      2715 9TH AVENUE N, ST PETERSBURG, FL 33713
      View Details

    FAQs

    What type of property is this?
    Residential income property - Updated townhouse with new AC, flooring, and included HOA.
    Where is this residential income property located?
    The property is located at 3863 ISLAND WAY St Petersburg, FL.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: HOA covers lawn care, exterior maintenance, trash, and water bills.; New air conditioner installed.; Updated bathrooms with quartz countertops and an oversized tub in the master bath.
    (888) 668-8283
    We can help!
    Listing Contact
    Robert McNaughton
    Real Estate License ID: 3377063
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!