Block-Construction
For Sale
$599,000
Pending
125 69TH N STREET, Clearwater, FL 33764
Three residential units offer two-bedroom layouts with in-unit laundry and included kitchen appliances.
Property Size2,583 SF
Days on Market494
Property Features for 125 69TH N STREET
General Information
Standard status
Pending
Size
2,583 SF
Property subtype
Multi Family
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,769
Amenities
washer/dryer
refrigerator
stove
Building Details
Year Built
1981
Buildings
1
Construction
block
Listing Agency:
INTERNATIONAL TOP AGENTS REALTY
(727) 481-3328
Listed By:
Victor Garcia Molano · License #3450632
(727) 481-3328
Source:
Exitrealty
Added: Apr 25, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:41PM
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 INTERNATIONAL TOP AGENTS REALTY
Investment Insights
Based on property information with market context.
Built in 1981, this 2,583-square-foot triplex contains three residential units in block construction. Each apartment is configured with 2 bedrooms and 1 bathroom, with tile flooring throughout and a washer and dryer inside the unit. Refrigerators and stoves are included in each apartment.
Two of the three apartments have new central AC units. The property is located near US 19 North and Eastbay, providing access to a major nearby roadway and the surrounding Clearwater area.
Two of the three apartments have new central AC units. The property is located near US 19 North and Eastbay, providing access to a major nearby roadway and the surrounding Clearwater area.
Key Highlights
- Three‑unit triplex built in 1981
- 2,583 SF block‑construction property
- Each unit has 2 bedrooms and 1 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
$35,627
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
5.95%
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%
$712,540
$712.5K
Cap Rate 7%
$508,957
$509.0K
Cap Rate 9%
$395,856
$395.9K
Market Conditions
NOI Build-Up for 2,583 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
$54.2K $21.00/SF
− Vacancy
−$3.3K −$1.30/SF
EGI
$50.9K $19.70/SF
− OpEx
−$15.3K −$5.91/SF
NOI
$35.6K $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%
$712,540
Cap Rate 7%
$508,957
Cap Rate 9%
$395,856
Alternative Uses
Best Use
Multifamily LT 5
$509.0K
$445.3K – $593.8K
NOI $35,627 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$455.4K
$398.5K – $531.3K
NOI $31,879 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$724.7K
$634.1K – $845.5K
NOI $50,728 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 33764, FL
27,547
Population
15,193
Households
1.8
Avg Household Size
50
Median Age
32%
College-Educated
93%
High-School Grad
6.3 sq mi
ZIP Area
4,373
Density / Sq Mi
$64,573
Median Household Income
$45,949
Median Earnings
$1,622
Median Rent
$302,500
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?
Triplex - Three residential units offer two-bedroom layouts with in-unit laundry and included kitchen appliances.
Where is this triplex located?
The property is located at 125 69TH N STREET Clearwater, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three‑unit triplex built in 1981; 2,583 SF block‑construction property; Each unit has 2 bedrooms and 1 bathroom
