Four-Unit Downtown
New
For Sale
$725,000
1267 FRANKLIN Street, Clearwater, FL 33756
Residential Income, CLEARWATER, FL
Property Size3,700 SF
Lot Size0.16 Acres
Price / SF$195.95
Days on Market5
Property Features for 1267 FRANKLIN Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
DOWNTOWN G
Rooms
Family Room
Pets allowed
Yes
Interior features
Ceiling Fans(s), Kitchen/Family Room Combo
Exterior features
Rain Gutters, Sidewalk, Storage
Appliances
Range, Refrigerator
Subdivision
HIBISCUS GARDENS
Elementary school
Belleair Elementary-PN
Middle school
Oak Grove Middle-PN
High school
Clearwater High-PN
Directions
Drive west. Left to Chestnut St/SR 60. Continue on Chestnut St. Bear right onto Court St/US 19 Alternate/SR 60. Continue on Court St. Bear left. Left to South Lincoln Ave. Right to Franklin St.
Standard status
Active
APN
15-29-15-38574-009-0040
Size
3,700 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HIBISCUS GARDENS BLK I, LOT 4
Tax Annual Amount
8721
Legal Description
HIBISCUS GARDENS BLK I, LOT 4
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1964
Floors in Building
2
Flooring type
Tile - Ceramic, Linoleum, Terrazzo, Vinyl, Carpet
Building materials
Block, Stucco
Roof type
Built-Up
Additional Structures
Storage
Listing Agency:
BEYCOME OF FLORIDA LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(844) 239-2663
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 12 at 6:06AM
MLS# O6440171
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit residential income property at 1267 Franklin Street contains 3,700 square feet on a 0.16-acre parcel. Built in 1964, the building uses block and stucco construction with a built-up roof. Interior features include ceiling fans and a kitchen-family room combination, with ceramic tile, terrazzo, vinyl, linoleum, and carpet flooring represented throughout the property. Appliances include ranges and refrigerators.
The property is located in Clearwater, Florida, within the Downtown G zoning district. Public water and public sewer serve the site. Exterior elements include rain gutters, sidewalks, and storage, while heating is provided by a central system. Cooling includes central air along with wall and window unit systems.
The property is located in Clearwater, Florida, within the Downtown G zoning district. Public water and public sewer serve the site. Exterior elements include rain gutters, sidewalks, and storage, while heating is provided by a central system. Cooling includes central air along with wall and window unit systems.
Key Highlights
- Four‑unit property with 3,700 square feet of building area
- 0.16‑acre parcel in Clearwater, FL 33756
- Built in 1964 with block and stucco construction
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
$51,034
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
7.04%
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%
$1,020,680
$1.0M
Cap Rate 7%
$729,057
$729.1K
Cap Rate 9%
$567,044
$567.0K
Market Conditions
NOI Build-Up for 3,700 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
$77.7K $21.00/SF
− Vacancy
−$4.8K −$1.30/SF
EGI
$72.9K $19.70/SF
− OpEx
−$21.9K −$5.91/SF
NOI
$51.0K $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%
$1,020,680
Cap Rate 7%
$729,057
Cap Rate 9%
$567,044
Alternative Uses
Best Use
Multifamily LT 5
$729.1K
$637.9K – $850.6K
NOI $51,034 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$652.4K
$570.8K – $761.1K
NOI $45,665 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$1.04M
$908.3K – $1.21M
NOI $72,665 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,735
Businesses Nearby
Explore this area
Business Placement
Demographics for 33756, FL
31,807
Population
15,474
Households
2.1
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
7.2 sq mi
ZIP Area
4,418
Density / Sq Mi
$63,990
Median Household Income
$38,563
Median Earnings
$1,382
Median Rent
$335,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Block-and-stucco construction includes central heating, public water, and public sewer service.
Where is this quadplex located?
The property is located at 1267 FRANKLIN Street Clearwater, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Four‑unit property with 3,700 square feet of building area; 0.16‑acre parcel in Clearwater, FL 33756; Built in 1964 with block and stucco construction
