Madeira Beach Waterfront
For Sale
$1,291,000
117 140TH Ave E, Madeira Beach, FL 33708
Turnkey, fully occupied concrete block quadruplex with Gulf access.
Property Size3,208 SF
Lot Size0.12 Acres
Price / SF$402.43
Days on Market100
Property Features for 117 140TH Ave E
General Information
Standard status
Active
Size
3,208 SF
Lot size
0.12 Acres
Property subtype
Investment
Building Details
Year Built
1971
Listing Agency:
Coastal Properties Group International, LLC
(321) 482-9617
Listed By:
Monika Krolivcova, PA · License #3328528
(321) 482-9617
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 23 at 9:15AM
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 Coastal Properties Group International, LLC
Investment Insights
Based on property information with market context.
This fully occupied, solid concrete block quadruplex is located in the heart of Madeira Beach. The 3,208 square foot property sits on a 0.12 acre lot with beach access across the street and intercoastal waterfront. Boat access to the Gulf of America is available. The property features a newer seawall, a brand new private composite dock, and sturdy steps for kayaking and fishing. It is fenced-in with gates on each side and includes a backyard with ample space, brand new gutters, and exquisite pavers. Each unit has its own electric meter, designated parking, private mailbox, and bike and canoe racks. The exterior and first-floor apartments have been freshly painted and remodeled with new kitchens and bathrooms. New electrical wiring and plumbing have been installed throughout the downstairs units, including new water heaters and CPVC pipes. New duct work is present in unit A, and all four HVAC systems have been inspected, along with the roof. The upstairs apartments were updated in 2021 and have identical layouts and sizes. The downstairs apartments feature terrazzo floors, spacious living/dining rooms, large double pane sliding doors, and new windows with water views, privacy blinds, and open covered patios. Modern kitchens include granite countertops, wood cabinets, and stainless steel appliances, including a side-by-side refrigerator with ice maker and water dispenser, stove, over-the-range microwave, and a washer/dryer in each unit. The property is centrally located with public beach access across the street, along with shops and restaurants. It is one mile to John's Pass Village & Boardwalk, marina, and park, and about two miles over the drawbridge to shopping plazas. St. Petersburg College Bay Pines STEM Center, Madeira Beach Fundamental Elementary School, and the VA Bay Pines and VA Medical Center are nearby, with access to trails through War Veterans Memorial Park. The Pinellas Trail is four miles away. Public transportation is easily accessible.
Key Highlights
- Intercoastal waterfront property with boat access to the Gulf of Mexico and a new private composite dock suitable for kayaking and fishing.
- Fully occupied solid concrete block quadruplex** in the heart of Madeira Beach, offering immediate income generation.
- Turnkey property with extensive recent renovations, including remodeled kitchens and bathrooms, new electrical and plumbing in downstairs units, new gutters, pavers, and fencing.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.4k | $17.88 |
| − Vacancy | −$3.9k | −$1.21 |
| EGI | $53.5k | $16.67 |
| − OpEx | −$16.0k | −$5.00 |
| NOI | $37.4k | $11.67 |
3,208 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$534.9K
$468.1K – $624.1K
NOI $37,445 @ 7.0% cap · market cap 2.90%
Second Best
Apartment 5plus
$421.5K
$368.8K – $491.7K
NOI $29,504 @ 7.0% cap · market cap 2.29%
Theoretical Best
Office A
$834.4K
$730.1K – $973.5K
NOI $58,410 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
Explore this area
Business Placement
Demographics for 33708, FL
16,034
Population
13,211
Households
1.2
Avg Household Size
60
Median Age
44%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
4,716
Density / Sq Mi
$83,773
Median Household Income
$49,403
Median Earnings
$1,961
Median Rent
$463,700
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?
Quadplex - Turnkey, fully occupied concrete block quadruplex with Gulf access.
Where is this quadplex located?
The property is located at 117 140TH Ave E Madeira Beach, FL.
What is the asking price?
The asking price for this property is $1,291,000.
What are key features of this property?
This property features: Intercoastal waterfront property with boat access to the Gulf of Mexico and a **new private composite dock suitable for kayaking and fishing**.; Fully occupied solid concrete block quadruplex** in the heart of Madeira Beach, offering immediate income generation.; Turnkey property with extensive recent renovations, including remodeled kitchens and bathrooms, new electrical and plumbing in downstairs units, new gutters, pavers, and fencing.
