Largo Multifamily Property for
For Sale
$220,000
12651 SEMINOLE Blvd 10C, Largo, FL 33778
Multifamily property available in Largo, Florida.
Property Size1,127 SF
Lot Size38.12 Acres
Days on Market273
Property Features for 12651 SEMINOLE Blvd 10C
General Information
Standard status
Active
Size
1,127 SF
Lot size
38.12 Acres
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$2,249
Building Details
Building Size
1,127 SF
Year Built
1987
Stories
1
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 244-0300
Listed By:
Holly Frandeka · License #3396790
(727) 244-0300
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 17
Last Checked: Aug 26 at 10:29AM
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 CHARLES RUTENBERG REALTY INC
Investment Insights
Based on property information with market context.
A multifamily property located at 12651 SEMINOLE Blvd 10C, Largo, FL 33778, is available for sale. The property is classified under apartment buildings, multifamily properties, and residential income properties.
Key Highlights
- Year Built: 1987
- Price: $11
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
$10,365
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
4.71%
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%
$207,300
$207.3K
Cap Rate 7%
$148,071
$148.1K
Cap Rate 9%
$115,167
$115.2K
Market Conditions
NOI Build-Up for 1,127 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
$20.3K $18.00/SF
− Vacancy
−$1.4K −$1.28/SF
EGI
$18.8K $16.72/SF
− OpEx
−$8.5K −$7.52/SF
NOI
$10.4K $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%
$207,300
Cap Rate 7%
$148,071
Cap Rate 9%
$115,167
Alternative Uses
Best Use
Apartment 5plus
$148.1K
$129.6K – $172.8K
NOI $10,365 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.1K
$256.5K – $342.0K
NOI $20,520 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 33778, FL
15,068
Population
8,130
Households
1.9
Avg Household Size
51
Median Age
26%
College-Educated
92%
High-School Grad
3.8 sq mi
ZIP Area
3,965
Density / Sq Mi
$63,633
Median Household Income
$40,198
Median Earnings
$1,697
Median Rent
$267,800
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?
Apartment building - Multifamily property available in Largo, Florida.
Where is this apartment building located?
The property is located at 12651 SEMINOLE Blvd 10C Largo, FL.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Year Built: 1987; Price: $11
