Remodeled Three-Unit
For Sale
$629,900
Pending
2018 14TH S STREET, St Petersburg, FL 33705
Permitted renovations include air-conditioned storage and laundry areas alongside updated building systems.
Property Size2,518 SF
Days on Market626
Property Features for 2018 14TH S STREET
General Information
Standard status
Pending
Size
2,518 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,050
Amenities
laundry rooms
air conditioned storage
fenced yard
Building Details
Year Built
1925
Year Renovated
2024
Listing Agency:
STAR BAY REALTY CORP.
(424) 413-6600
Listed By:
Lukas Vanagaitis · License #3443636
(424) 413-6600
Source:
Exitrealty
Added: Dec 14, 2024
Changed: Aug 31
Last Checked: Aug 31 at 5:29PM
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 STAR BAY REALTY CORP.
Investment Insights
Based on property information with market context.
This legal triplex in St. Petersburg contains 2,518 square feet arranged as three residences. The lower level offers a three-bedroom, one-bath unit with laundry and storage, while two matching upper-level apartments each provide one bedroom and one bathroom. Originally constructed in 1925, the property underwent a 2024 remodel supported by renovation permits and city inspections.
Recent improvements include a new roof, replacement windows, new electrical meters and panels, and new water heaters. The storage and laundry areas are air conditioned, and the site is fully fenced with parking available. The property has no HOA and is not located in a flood zone.
Recent improvements include a new roof, replacement windows, new electrical meters and panels, and new water heaters. The storage and laundry areas are air conditioned, and the site is fully fenced with parking available. The property has no HOA and is not located in a flood zone.
Key Highlights
- Legal triplex with 3 units totaling 2,518 SF
- Unit mix includes 1 three‑bedroom/one‑bath unit and 2 one‑bedroom/one‑bath units
- 5 bedrooms and 3 bathrooms total
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
$29,391
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
4.67%
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%
$587,820
$587.8K
Cap Rate 7%
$419,871
$419.9K
Cap Rate 9%
$326,567
$326.6K
Market Conditions
NOI Build-Up for 2,518 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
$45.0K $17.88/SF
− Vacancy
−$3.0K −$1.21/SF
EGI
$42.0K $16.67/SF
− OpEx
−$12.6K −$5.00/SF
NOI
$29.4K $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%
$587,820
Cap Rate 7%
$419,871
Cap Rate 9%
$326,567
Alternative Uses
Best Use
Multifamily LT 5
$419.9K
$367.4K – $489.9K
NOI $29,391 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$330.8K
$289.5K – $386.0K
NOI $23,158 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$655.0K
$573.1K – $764.1K
NOI $45,847 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Explore this area
Business Placement
Demographics for 33705, FL
27,915
Population
15,171
Households
1.8
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
4,985
Density / Sq Mi
$70,783
Median Household Income
$40,370
Median Earnings
$1,457
Median Rent
$321,500
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 - Permitted renovations include air-conditioned storage and laundry areas alongside updated building systems.
Where is this triplex located?
The property is located at 2018 14TH S STREET St Petersburg, FL.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: Legal triplex with 3 units totaling 2,518 SF; Unit mix includes 1 three‑bedroom/one‑bath unit and 2 one‑bedroom/one‑bath units; 5 bedrooms and 3 bathrooms total
