Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    St. Petersburg Multifamily Investment Opportunity Title is generated by Realmo AI

    135 NE MADISON Cir N, St Petersburg, FL 33702

    View on Map
    Claim this Listing
    For Sale
    $700,000

    Well-maintained five-unit building near 4th Street N corridor.

    Type:Investment
    Lot size:
    0.24 Acres
    Added:
    Mar 23, 2026
    Days on Market:
    73
    Last Refresh:
    Mar 19 at 9:26 am

    Property Features for 135 NE MADISON Cir N

    General Information

    Standard status
    Active
    Lot size
    0.24 Acres
    Property subtype
    Investment

    Building Details

    Year Built
    1972

    We can help!

    Listing Contact
    Ashtin Brock
    Ashtin Brock

    Listing agent Ashtin Brock License #3211377

    Listing office Berkshire Hathaway Florida Properties Group

    Listing date Mar 23, 2026

    Source Elliman

    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 Berkshire Hathaway Florida Properties Group

    HighLights

    • Income‑producing five‑unit building in a high‑demand St. Petersburg location.
    • Prime location near 4th Street N. corridor with easy access to shopping and restaurants.
    • Units #1, #4, and #5 feature upgraded baths, kitchen cabinetry, and appliances.
    • Separate water and sewer meters for each unit.
    • Close proximity to Gulf beaches, St. Pete–Clearwater and Tampa International Airports, and downtown St. Petersburg.
    • Well‑maintained exterior with fresh paint and new gutters.

    Overview

    Located just off the highly traveled 4th Street N corridor, this five-unit building in St. Petersburg offers an income-producing opportunity. The property features four 1-bedroom residences and one 2-bedroom unit. The exterior of the building has clean lines and fresh paint. New gutters manage rainwater efficiently. Each unit includes a screen door. Units #1, #4, and #5 have upgraded baths, kitchen cabinetry, and appliances. Each residence benefits from separate water and sewer meters. The property's location provides convenient access to shopping, restaurants, grocery stores, and automotive services. The property is located minutes from Gulf beaches, St. Pete–Clearwater and Tampa International Airports, and downtown St. Petersburg, with its art, culture, dining, and entertainment options, including the Dali Museum.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6373293
    Latitude
    27.830276

    Nearby Similar for Sale

    • $920,000
      2,496 SF

      Turnkey Medical Office in St. Petersburg

      Fully built-out medical office with flexible layout and ample parking.
      1152 62ND AVENUE S, ST PETERSBURG, FL 33705
      View Details
    • $449,000
      1,740 SF

      Freestanding Commercial Building Near Downtown

      Corner-lot property with flexible layout, suitable for retail/service uses.
      1664 15TH AVENUE S, ST PETERSBURG, FL 33712
      View Details
    • $1,150,000
      1,472 SF

      Boutique Medical Suite Investment

      Fully leased medical suites with income upside in St. Petersburg.
      2200 49TH STREET N, ST PETERSBURG, FL 33710
      View Details
    • $600,000
      3,607 SF

      Value-Add Multifamily Opportunity

      Six-unit multifamily property with renovation needs in St. Petersburg.
      7180 50TH AVENUE N, ST PETERSBURG, FL 33709
      View Details
    • $750,000
      4,152 SF

      High-Visibility Corner Office Building

      4,152 SF office building on a high-traffic corner lot.
      2901 58TH AVENUE N, ST PETERSBURG, FL 33714
      View Details
    • $1,095,000
      5,796 SF

      St. Petersburg Warehouse with Leased Unit

      Two-unit warehouse with income and upside for owner-user or investor.
      4055 7TH TERRACE, ST PETERSBURG, FL 33711
      View Details
    • $275,000
      720 SF

      Retail Building on Active Corridor

      Versatile commercial building with high visibility and unmatched signage potential.
      4498 49TH STREET N, ST PETERSBURG, FL 33709
      View Details
    • $530,000
      3,384 SF

      St. Petersburg Landmark Property

      Landmark property in growing St. Petersburg corridor with flexible possibilities.
      1241 22ND STREET S, ST PETERSBURG, FL 33712
      View Details
    • $899,000
      1,528 SF

      Commercial Property on Haines Road

      Commercial property with office, workshop, and storage yard.
      6600 HAINES ROAD N, ST PETERSBURG, FL 33702
      View Details
    • $649,999
      2,892 SF

      Updated Four-Unit Multifamily Property

      Renovated four-unit property near downtown St. Petersburg with income potential.
      1033 19TH AVENUE S, ST PETERSBURG, FL 33705
      View Details
    • $829,999
      1,885 SF

      Versatile Commercial Property in St. Pete

      Commercial property suitable for warehouse, retail, distribution, storage, or live-work.
      5205 HAINES ROAD N, ST PETERSBURG, FL 33714
      View Details
    • $595,000
      2,322 SF

      Triplex with Potential Fourth Unit

      Income-focused triplex with three separate living areas and a fenced yard, plus upside pending city approval.
      4925 2ND AVENUE S, ST PETERSBURG, FL 33707
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained five-unit building near 4th Street N corridor.
    Where is this apartment building located?
    The property is located at 135 NE MADISON Cir N St Petersburg, 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: Income‑producing five‑unit building in a high‑demand St. Petersburg location.; Prime location near 4th Street N. corridor with easy access to shopping and restaurants.; Units #1, #4, and #5 feature upgraded baths, kitchen cabinetry, and appliances.
    (727) 422-3686
    We can help!
    Listing Contact
    Ashtin Brock
    Ashtin Brock
    Real Estate License ID: 3211377
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    135 NE MADISON Cir N, St. Petersburg, FL 33702
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!