Duplex Near Beach
For Sale
$799,900
13098 Gulf Blvd, Madeira Beach, FL 33708
Two residential units offer leasing flexibility, dedicated parking, elevated outdoor space, and a coastal setting within the John's Pass Activity Center.
Property Size2,439 SF
Lot Size0.05 Acres
Price / SF$327.96
Days on Market111
Property Features for 13098 Gulf Blvd
General Information
Standard status
Active
Size
2,439 SF
Total Parking Spaces
4
Lot size
0.05 Acres
Property subtype
Residential Income
Zoning
John's Pass Activity Center
Property Condition
Severity
Repairs Needed
Evidence
Ground floor unit has been partially restored and requires cabinetry, trim, and fixtures to complete.
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,004
Amenities
vaulted ceilings
outdoor deck
Building Details
Buildings
1
Listing Agency:
COLDWELL BANKER REALTY
(727) 642-1151
Listed By:
Maria Mercado Herbert, PA · License #3032151
(727) 642-1151
Source:
Exprealty
Added: May 13
Changed: Aug 30
Last Checked: Aug 30 at 2:17PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 1-bath units on a 40x49 lot, supported by a solid concrete block base and pillar foundation. Vaulted ceilings and substantial natural light contribute to the interior character, while an elevated outdoor deck provides beach views. The ground-floor residence has been partially restored and needs cabinetry, trim, and fixtures. The upper unit may be reconfigured to add a third bedroom, subject to applicable approvals.
The property fronts Gulf Blvd directly opposite beach access and includes four dedicated parking spaces. It is located within the John's Pass Activity Center, near waterfront dining, entertainment, shopping, and recreation. Zoning supports short-term vacation rentals, long-term leasing, mixed-use operation, or potential commercial conversion subject to municipal approvals. The AC systems were replaced in 2023, the roof in 2016, and the water heater in 2025.
The property fronts Gulf Blvd directly opposite beach access and includes four dedicated parking spaces. It is located within the John's Pass Activity Center, near waterfront dining, entertainment, shopping, and recreation. Zoning supports short-term vacation rentals, long-term leasing, mixed-use operation, or potential commercial conversion subject to municipal approvals. The AC systems were replaced in 2023, the roof in 2016, and the water heater in 2025.
Key Highlights
- Gulf Blvd frontage directly opposite beach access
- Two 2‑bedroom, 1‑bath units on a 40x49 lot
- Four dedicated parking spaces
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
$28,469
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
3.56%
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%
$569,380
$569.4K
Cap Rate 7%
$406,700
$406.7K
Cap Rate 9%
$316,322
$316.3K
Market Conditions
NOI Build-Up for 2,439 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
$43.6K $17.88/SF
− Vacancy
−$2.9K −$1.21/SF
EGI
$40.7K $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%
$569,380
Cap Rate 7%
$406,700
Cap Rate 9%
$316,322
Alternative Uses
Best Use
Multifamily LT 5
$406.7K
$355.9K – $474.5K
NOI $28,469 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$320.5K
$280.4K – $373.9K
NOI $22,432 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$634.4K
$555.1K – $740.1K
NOI $44,408 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
536
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?
Duplex - Two residential units offer leasing flexibility, dedicated parking, elevated outdoor space, and a coastal setting within the John's Pass Activity Center.
Where is this duplex located?
The property is located at 13098 Gulf Blvd Madeira Beach, FL.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Gulf Blvd frontage directly opposite beach access; Two 2‑bedroom, 1‑bath units on a 40x49 lot; Four dedicated parking spaces
