Renovated Triplex with Detached
For Sale
$789,000
127 17th Ave S, St Petersburg, FL 33701
Three distinct residences include a primary home and two upstairs apartments with private balconies.
Property Size2,276 SF
Price / SF$346.66
Days on Market44
Property Features for 127 17th Ave S
General Information
Standard status
Active
Size
2,276 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Road Access
Yes
Amenities
private back patio
laundry area
private balcony
Building Details
Year Built
1920
Listing Agency:
CHARLES RUTENBERG REALTY INC
(813) 240-6054
Listed By:
Curtis Rudolph · License #261547848
Source:
Fulcrum-residential
Added: Jul 19
Changed: Aug 31
Last Checked: Aug 31 at 6:46PM
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.
This renovated triplex at 127 17th Ave S includes 2,276 SF across three residences. The ground-floor 3BR/2BA home has an office, enclosed air-conditioned porch, updated kitchen and baths, and access to a private rear patio. Two 1BR/1BA apartments occupy the upper level, each with a living room, private balcony, and updated finishes. Luxury vinyl flooring, impact windows and doors installed in 2023, a 2015 roof, tankless water heaters, and ceiling fans are among the property improvements.
A detached 23' x 22' garage has alley access and may be configured as two additional rentable spaces, subject to applicable approvals. Street and alley parking accommodates 4 vehicles. The property is tenant occupied, is not approved for Airbnb use, and is not located in a flood zone. Its Old Southeast setting places it near Lassing Park, Tampa Bay, downtown St. Petersburg, and nearby culinary, arts, sports, museum, college, and hospital destinations.
A detached 23' x 22' garage has alley access and may be configured as two additional rentable spaces, subject to applicable approvals. Street and alley parking accommodates 4 vehicles. The property is tenant occupied, is not approved for Airbnb use, and is not located in a flood zone. Its Old Southeast setting places it near Lassing Park, Tampa Bay, downtown St. Petersburg, and nearby culinary, arts, sports, museum, college, and hospital destinations.
Key Highlights
- Three‑unit configuration with a 3BR/2BA main residence and two 1BR/1BA apartments
- 2,276 SF property with a detached 23' x 22' garage and alley entrance
- Garage may be divided into two rentable spaces, subject to applicable approvals
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
$26,566
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
3.37%
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%
$531,320
$531.3K
Cap Rate 7%
$379,514
$379.5K
Cap Rate 9%
$295,178
$295.2K
Market Conditions
NOI Build-Up for 2,276 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
$40.7K $17.88/SF
− Vacancy
−$2.7K −$1.21/SF
EGI
$38.0K $16.67/SF
− OpEx
−$11.4K −$5.00/SF
NOI
$26.6K $11.67/SF
Area
Pinellas County, FL
Vacancy
6.74%
Lease Rate
$17.88 /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%
$531,320
Cap Rate 7%
$379,514
Cap Rate 9%
$295,178
Alternative Uses
Best Use
Multifamily LT 5
$379.5K
$332.1K – $442.8K
NOI $26,566 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$299.0K
$261.7K – $348.9K
NOI $20,933 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$592.0K
$518.0K – $690.7K
NOI $41,440 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 33701, FL
19,137
Population
13,434
Households
1.4
Avg Household Size
48
Median Age
55%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
7,088
Density / Sq Mi
$69,098
Median Household Income
$48,072
Median Earnings
$1,531
Median Rent
$590,900
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 distinct residences include a primary home and two upstairs apartments with private balconies.
Where is this triplex located?
The property is located at 127 17th Ave S St Petersburg, FL.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Three‑unit configuration with a 3BR/2BA main residence and two 1BR/1BA apartments; 2,276 SF property with a detached 23' x 22' garage and alley entrance; Garage may be divided into two rentable spaces, subject to applicable approvals
