Occupied Triplex with New
New
For Sale
$629,000
3735 141ST, Largo, FL 33771
Three occupied units feature separate utility meters, with tenants responsible for their own water and power service.
Property Size2,430 SF
Days on Market4
Property Features for 3735 141ST
General Information
Standard status
Active
Size
2,430 SF
Property subtype
Investment
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,660
Building Details
Building Size
2,430 SF
Year Built
1973
Buildings
1
Listing Agency:
(813) 640-9000
Listed By:
Dillon Cook
(813) 640-9000
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 23 at 7:14AM
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 Dillon Cook
Investment Insights
Based on property information with market context.
This triplex contains three occupied units and was built in 1973. A new roof was installed in 2025, and separate meters allow tenants to pay their own water and power. The next soonest lease expiration is January, 2027.
The property is located just north of Ulmerton Road in Largo, near Largo Mall and the Target and Publix stores at Tri-City Plaza. Access to US 19 connects the property with destinations throughout Pinellas County. An adjacent triplex at 3753 141st is also available for purchase and may be combined with this property in one sale.
The property is located just north of Ulmerton Road in Largo, near Largo Mall and the Target and Publix stores at Tri-City Plaza. Access to US 19 connects the property with destinations throughout Pinellas County. An adjacent triplex at 3753 141st is also available for purchase and may be combined with this property in one sale.
Key Highlights
- Three‑unit triplex is fully occupied
- New roof installed in 2025
- Separate meters for tenant‑paid water and power
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
$28,364
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
4.51%
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%
$567,280
$567.3K
Cap Rate 7%
$405,200
$405.2K
Cap Rate 9%
$315,156
$315.2K
Market Conditions
NOI Build-Up for 2,430 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
$43.4K $17.88/SF
− Vacancy
−$2.9K −$1.21/SF
EGI
$40.5K $16.67/SF
− OpEx
−$12.2K −$5.00/SF
NOI
$28.4K $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%
$567,280
Cap Rate 7%
$405,200
Cap Rate 9%
$315,156
Alternative Uses
Best Use
Multifamily LT 5
$405.2K
$354.6K – $472.7K
NOI $28,364 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$319.3K
$279.4K – $372.5K
NOI $22,349 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$632.1K
$553.1K – $737.4K
NOI $44,244 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Explore this area
Business Placement
Demographics for 33771, FL
29,766
Population
16,898
Households
1.8
Avg Household Size
54
Median Age
25%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
4,961
Density / Sq Mi
$60,139
Median Household Income
$40,417
Median Earnings
$1,379
Median Rent
$145,600
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 occupied units feature separate utility meters, with tenants responsible for their own water and power service.
Where is this triplex located?
The property is located at 3735 141ST Largo, FL.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Three‑unit triplex is fully occupied; New roof installed in 2025; Separate meters for tenant‑paid water and power
