Concrete Block
For Sale
$395,000
Pending
7771 62ND N WAY, Pinellas Park, FL 33781
Two similar residences offer private entrances, outdoor porches, spacious living areas, and separate kitchens with dining space.
Property Size1,904 SF
Days on Market558
Property Features for 7771 62ND N WAY
General Information
Standard status
Pending
Size
1,904 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,866
Building Details
Year Built
1982
Buildings
1
Construction
concrete block
Listing Agency:
THE GRANNAN GROUP
Listed By:
Angela Grannan · License #3392542
(727) 209-7487
Source:
Exitrealty
Added: Apr 6, 2025
Changed: Oct 1
Last Checked: Oct 1 at 10:51AM
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 THE GRANNAN GROUP
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Investment Insights
Based on property information with market context.
Built in 1982, this 1,904-square-foot duplex contains two nearly identical residences arranged around oversized living rooms. Each unit includes two bedrooms, a full bathroom with a tub and shower, and a kitchen with room for a dining table. Separate front entrances lead to individual front stoops, while rear porches provide additional outdoor space.
The property is located in Pinellas Park near restaurants and grocery stores, with access between the beach and bay areas. Its concrete block construction and two-unit layout provide a straightforward multifamily configuration for an owner-occupant or rental property owner.
The property is located in Pinellas Park near restaurants and grocery stores, with access between the beach and bay areas. Its concrete block construction and two-unit layout provide a straightforward multifamily configuration for an owner-occupant or rental property owner.
Key Highlights
- 1,904‑square‑foot duplex built in 1982
- Concrete block construction
- Two units with nearly identical layouts and condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,224
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,480
$444.5K
Cap Rate 7%
$317,486
$317.5K
Cap Rate 9%
$246,933
$246.9K
Market Conditions
NOI Build-Up for 1,904 SF
Gross rent
$34.0K $17.88/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$31.7K $16.67/SF
− OpEx
−$9.5K −$5.00/SF
NOI
$22.2K $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 Rate 5%
$444,480
Cap Rate 7%
$317,486
Cap Rate 9%
$246,933
Alternative Uses
Best Use
Multifamily LT 5
$317.5K
$277.8K – $370.4K
NOI $22,224 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$250.2K
$218.9K – $291.9K
NOI $17,511 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$495.2K
$433.3K – $577.8K
NOI $34,667 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
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Business Placement
Demographics for 33781, FL
27,349
Population
12,370
Households
2.2
Avg Household Size
42
Median Age
22%
College-Educated
82%
High-School Grad
6.6 sq mi
ZIP Area
4,144
Density / Sq Mi
$55,378
Median Household Income
$37,039
Median Earnings
$1,197
Median Rent
$251,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two similar residences offer private entrances, outdoor porches, spacious living areas, and separate kitchens with dining space.
Where is this duplex located?
The property is located at 7771 62ND N WAY Pinellas Park, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,904‑square‑foot duplex built in 1982; Concrete block construction; Two units with nearly identical layouts and condition
