Corner Redevelopment Triplex
For Sale
$900,000
2800 DARTMOUTH Ave N, St Petersburg, FL 33713
Three separate units sit on a large corner parcel zoned NT-4, with attached and detached residences plus garage access.
Property Size2,445 SF
Lot Size0.28 Acres
Days on Market140
Property Features for 2800 DARTMOUTH Ave N
General Information
Standard status
Active
Size
2,445 SF
Total Parking Spaces
2
Lot size
0.28 Acres
Property subtype
Investment
Zoning
NT-4
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,403
Building Details
Building Size
2,445 SF
Year Built
1939
Construction
Tudor
Tenancy
Multi
Listing Agency:
ELITE TAMPA BAY REALTY LLC
(727) 324-9274
Listed By:
David Weylie · License #3185121
(727) 324-9274
Source:
Elliman
Added: Apr 4
Changed: Aug 11
Last Checked: Aug 21 at 7:43AM
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 ELITE TAMPA BAY REALTY LLC
Investment Insights
Based on property information with market context.
This investor-focused multifamily property includes three separate living units within a larger residential redevelopment framework. The main residence is a Tudor-style home with 3 bedrooms and 2 bathrooms, along with an attached 1-bedroom, 1-bath in-law suite. A detached 2-bedroom, 1-bath cottage is located toward the rear and includes a laundry room and a separate 2-car garage, providing additional flexibility across the site.
The property is situated on a large 127x97 corner lot in St. Petersburg, and it is zoned NT-4. This zoning allows development of up to 4 units on the parcel, creating multiple paths for renovation or redevelopment depending on the buyer’s plan.
The home and cottage configurations offer an existing-income setup while the overall site supports future multifamily development opportunities under the current zoning designation.
The property is situated on a large 127x97 corner lot in St. Petersburg, and it is zoned NT-4. This zoning allows development of up to 4 units on the parcel, creating multiple paths for renovation or redevelopment depending on the buyer’s plan.
The home and cottage configurations offer an existing-income setup while the overall site supports future multifamily development opportunities under the current zoning designation.
Key Highlights
- 1939‑built multifamily property on a large 127x97 corner lot in St. Petersburg
- Zoned NT‑4, with development allowed for up to 4 units on the parcel
- Main Tudor‑style home offers 3 bedrooms and 2 bathrooms, plus an attached 1‑bedroom, 1‑bath in‑law suite
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
$28,539
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
3.17%
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%
$570,780
$570.8K
Cap Rate 7%
$407,700
$407.7K
Cap Rate 9%
$317,100
$317.1K
Market Conditions
NOI Build-Up for 2,445 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
$43.7K $17.88/SF
− Vacancy
−$2.9K −$1.21/SF
EGI
$40.8K $16.67/SF
− OpEx
−$12.2K −$5.00/SF
NOI
$28.5K $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%
$570,780
Cap Rate 7%
$407,700
Cap Rate 9%
$317,100
Alternative Uses
Best Use
Multifamily LT 5
$407.7K
$356.7K – $475.7K
NOI $28,539 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$321.2K
$281.1K – $374.8K
NOI $22,487 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$636.0K
$556.5K – $742.0K
NOI $44,517 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,259
Businesses Nearby
Explore this area
Business Placement
Demographics for 33713, FL
31,321
Population
16,192
Households
1.9
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
6.5 sq mi
ZIP Area
4,819
Density / Sq Mi
$69,704
Median Household Income
$43,282
Median Earnings
$1,387
Median Rent
$279,000
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 separate units sit on a large corner parcel zoned NT-4, with attached and detached residences plus garage access.
Where is this triplex located?
The property is located at 2800 DARTMOUTH Ave N St Petersburg, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 1939‑built multifamily property on a large 127x97 corner lot in St. Petersburg; Zoned NT‑4, with development allowed for up to 4 units on the parcel; Main Tudor‑style home offers 3 bedrooms and 2 bathrooms, plus an attached 1‑bedroom, 1‑bath in‑law suite
