Renovated Triplex with In-Unit
New
For Sale
$525,000
2518 5TH S, St Petersburg, FL 33705
Three updated residential units offer modern finishes, private laundry, and off-street parking.
Property Size1,737 SF
Days on Market2
Property Features for 2518 5TH S
General Information
Standard status
Active
Size
1,737 SF
Property subtype
Investment
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,742
Amenities
in-unit washer and dryer
off-street parking
Building Details
Building Size
1,737 SF
Year Built
1938
Listing Agency:
MPGFL TAMPA LLC
Listed By:
Frank Brito · License #3542409
(631) 356-5697
Source:
Elliman
Added: Sep 18
Last Checked: Sep 18 at 2:35PM
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 MPGFL TAMPA LLC
Investment Insights
Based on property information with market context.
This triplex includes three residential units arranged as two 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit. Renovations include new flooring, granite countertops, stainless-steel appliances, updated cabinetry, refreshed bathrooms, and contemporary fixtures. Each unit has its own washer and dryer, while off-street parking serves the property. The building was constructed in 1938 and occupies a double lot.
The property is located in the Harbordale neighborhood of St. Petersburg, with access to Downtown St. Petersburg, I-275, restaurants, shopping, parks, entertainment, and the waterfront. St. Petersburg beaches are also within a short drive. Walk Score is 63, Bike Score is 54, and Transit Score is 37.
The property is located in the Harbordale neighborhood of St. Petersburg, with access to Downtown St. Petersburg, I-275, restaurants, shopping, parks, entertainment, and the waterfront. St. Petersburg beaches are also within a short drive. Walk Score is 63, Bike Score is 54, and Transit Score is 37.
Key Highlights
- Three‑unit configuration with two 1/1 units and one 2/1 unit
- Extensively renovated with new flooring, granite countertops, appliances, cabinetry, bathrooms, and fixtures
- In‑unit washer and dryer in every residence
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
$20,275
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
3.86%
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%
$405,500
$405.5K
Cap Rate 7%
$289,643
$289.6K
Cap Rate 9%
$225,278
$225.3K
Market Conditions
NOI Build-Up for 1,737 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
$31.1K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$29.0K $16.67/SF
− OpEx
−$8.7K −$5.00/SF
NOI
$20.3K $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%
$405,500
Cap Rate 7%
$289,643
Cap Rate 9%
$225,278
Alternative Uses
Best Use
Multifamily LT 5
$289.6K
$253.4K – $337.9K
NOI $20,275 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$228.2K
$199.7K – $266.3K
NOI $15,975 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$451.8K
$395.3K – $527.1K
NOI $31,627 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
389
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three updated residential units offer modern finishes, private laundry, and off-street parking.
Where is this triplex located?
The property is located at 2518 5TH S St Petersburg, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three‑unit configuration with two 1/1 units and one 2/1 unit; Extensively renovated with new flooring, granite countertops, appliances, cabinetry, bathrooms, and fixtures; In‑unit washer and dryer in every residence
