Duplex with Two Separate
For Sale
$395,000
1800 27TH N AVENUE, St Petersburg, FL 33713
Two residences share one corner parcel, with one occupied and the other available for occupancy.
Property Size1,683 SF
Price / SF$234.70
Days on Market545
Property Features for 1800 27TH N AVENUE
General Information
Standard status
Active
Size
1,683 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,528
Building Details
Year Built
1925
Buildings
2
Listing Agency:
KELLER WILLIAMS REALTY- PALM H
(727) 238-9660
Listed By:
Jodi Avery · License #604183
(727) 238-9660
Source:
Exitrealty
Added: Mar 4, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:58PM
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 KELLER WILLIAMS REALTY- PALM H
Investment Insights
Based on property information with market context.
This duplex property includes two separate residences on a single corner lot, providing a combined 1,683 square feet. The first home offers two bedrooms and one bathroom within 693 square feet and is currently occupied. Its features include tile flooring, built-in closets, window or wall-unit cooling, kitchen appliances, and a laundry room with washer and dryer. The roof was replaced in June 2016, and the Frigidaire AC was replaced in May 2024.
The second residence contains three bedrooms, one bathroom, and 990 square feet. It has an open living area, kitchen appliances, built-in closets, laundry equipment, and a fenced backyard. Improvements include a November 2024 roof replacement, December 2023 AC package-unit replacement, a refrigerator installed in June 2024, and flooring updated in August 2022. One home is vacant, while the other is occupied.
The property is at 1800 27TH N AVENUE in St. Petersburg, Florida, with downtown approximately 5 minutes away, USFSP about 10 minutes away, and access to I-275 and 22nd Ave. The beach is approximately 20–25 minutes away.
The second residence contains three bedrooms, one bathroom, and 990 square feet. It has an open living area, kitchen appliances, built-in closets, laundry equipment, and a fenced backyard. Improvements include a November 2024 roof replacement, December 2023 AC package-unit replacement, a refrigerator installed in June 2024, and flooring updated in August 2022. One home is vacant, while the other is occupied.
The property is at 1800 27TH N AVENUE in St. Petersburg, Florida, with downtown approximately 5 minutes away, USFSP about 10 minutes away, and access to I-275 and 22nd Ave. The beach is approximately 20–25 minutes away.
Key Highlights
- Two separate homes on one lot with 1,683 total square feet
- 2‑bed, 1‑bath home with 693 square feet; occupied
- 3‑bed, 1‑bath home with 990 square feet; vacant
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
$19,645
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
4.97%
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%
$392,900
$392.9K
Cap Rate 7%
$280,643
$280.6K
Cap Rate 9%
$218,278
$218.3K
Market Conditions
NOI Build-Up for 1,683 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
$30.1K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$28.1K $16.67/SF
− OpEx
−$8.4K −$5.00/SF
NOI
$19.6K $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%
$392,900
Cap Rate 7%
$280,643
Cap Rate 9%
$218,278
Alternative Uses
Best Use
Multifamily LT 5
$280.6K
$245.6K – $327.4K
NOI $19,645 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$221.1K
$193.5K – $258.0K
NOI $15,479 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$437.8K
$383.0K – $510.7K
NOI $30,643 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
954
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?
Duplex - Two residences share one corner parcel, with one occupied and the other available for occupancy.
Where is this duplex located?
The property is located at 1800 27TH N AVENUE St Petersburg, 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: Two separate homes on one lot with 1,683 total square feet; 2‑bed, 1‑bath home with 693 square feet; occupied; 3‑bed, 1‑bath home with 990 square feet; vacant
