Two-Residence Duplex with
For Sale
$700,000
2717 PINEHURST AVENUE, Belleair Bluffs, FL 33770
Separate living quarters offer flexibility for owner occupancy, investment use, or multigenerational living.
Property Size2,519 SF
Price / SF$277.89
Days on Market890
Property Features for 2717 PINEHURST AVENUE
General Information
Standard status
Active
Size
2,519 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,160
Amenities
laundry room
private backyard oasis
covered carport
Building Details
Year Built
1961
Buildings
1
Listing Agency:
THE SHOP REAL ESTATE CO.
(727) 507-1993
Listed By:
Justin Helmus · License #3310887
(727) 507-1993
Source:
Exitrealty
Added: Mar 25, 2024
Changed: Aug 30
Last Checked: Aug 30 at 9:36PM
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 SHOP REAL ESTATE CO.
Investment Insights
Based on property information with market context.
This 1961 duplex contains two separate residences within a 2,519-square-foot property. The larger unit includes three bedrooms, two bathrooms, an open living arrangement, split-bedroom layout, laundry room, two-car garage, and private backyard. The second residence provides two bedrooms, two bathrooms, a living area, kitchen, dining space, master suite with private bathroom, closet storage, and a covered carport.
Located at 2717 Pinehurst Avenue in Belleair Bluffs, the property is positioned near beaches, schools, dining, shopping, and recreational amenities. Its two-unit configuration accommodates a range of ownership strategies, including a primary residence paired with additional income use or multigenerational living. The property was built in 1961 and presents distinct residential spaces under one roof.
Located at 2717 Pinehurst Avenue in Belleair Bluffs, the property is positioned near beaches, schools, dining, shopping, and recreational amenities. Its two-unit configuration accommodates a range of ownership strategies, including a primary residence paired with additional income use or multigenerational living. The property was built in 1961 and presents distinct residential spaces under one roof.
Key Highlights
- Two separate residences within a 2,519‑square‑foot duplex
- Main residence offers 3 bedrooms, 2 bathrooms, and a 2‑car garage
- Secondary residence includes 2 bedrooms, 2 bathrooms, and a covered carport
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
$29,403
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
4.20%
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%
$588,060
$588.1K
Cap Rate 7%
$420,043
$420.0K
Cap Rate 9%
$326,700
$326.7K
Market Conditions
NOI Build-Up for 2,519 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%
$588,060
Cap Rate 7%
$420,043
Cap Rate 9%
$326,700
Alternative Uses
Best Use
Multifamily LT 5
$420.0K
$367.5K – $490.1K
NOI $29,403 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$331.0K
$289.6K – $386.1K
NOI $23,167 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$655.2K
$573.3K – $764.4K
NOI $45,865 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
935
Businesses Nearby
Explore this area
Business Placement
Demographics for 33770, FL
25,475
Population
13,417
Households
1.9
Avg Household Size
50
Median Age
26%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$58,071
Median Household Income
$39,354
Median Earnings
$1,481
Median Rent
$245,200
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 - Separate living quarters offer flexibility for owner occupancy, investment use, or multigenerational living.
Where is this duplex located?
The property is located at 2717 PINEHURST AVENUE Belleair Bluffs, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two separate residences within a 2,519‑square‑foot duplex; Main residence offers 3 bedrooms, 2 bathrooms, and a 2‑car garage; Secondary residence includes 2 bedrooms, 2 bathrooms, and a covered carport
