St. Petersburg Triplex Investment
For Sale
$599,000
1500 30TH Ave N, St Petersburg, FL 33704
Charming triplex near downtown St. Petersburg with income potential.
Property Size1,944 SF
Days on Market112
Property Features for 1500 30TH Ave N
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,996
Building Details
Building Size
1,944 SF
Year Built
1949
Units
3
Listing Agency:
eXp Realty LLC
(813) 230-1787
Listed By:
Maria Crespo · License #3259788
(813) 230-1787
Source:
Elliman
Added: May 12
Changed: Aug 15
Last Checked: Aug 30 at 8:48PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This triplex is located minutes from downtown St. Petersburg, offering proximity to restaurants, shopping, movie theaters, entertainment venues, Tampa Bay, and Gulf Beaches. The property features updates completed since 2019, including remodeled kitchens, newer appliances, updated windows, and fresh paint. Washer and dryer hookups are available. Units A and B are situated at the front of the property and are 1-bedroom, 1-bath units with a covered front porch. Constructed in 1949, these units retain details such as coved ceilings and arched doorways. Unit A has original hardwood floors, while Unit B features ceramic tile flooring. The HVAC system was replaced in 2017. Unit C, located at the rear of the property with alley access, was converted in 2019 into a studio apartment with a combined living and sleeping area, eat-in kitchen, and full bathroom. Situated on a corner lot, the property includes on-site parking and shared tenant storage space in the remaining garage area. The property is located in an area that is bikeable and car-dependent, with some transit options.
Key Highlights
- High income potential with projected market rents significantly exceeding current rents (Units A, B, and C).
- Prime location minutes from downtown St. Petersburg, restaurants, shopping, entertainment, Tampa Bay, and Gulf Beaches.
- Triplex configuration offers flexibility for investment or owner‑occupancy with rental income.
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
$22,691
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
3.79%
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%
$453,820
$453.8K
Cap Rate 7%
$324,157
$324.2K
Cap Rate 9%
$252,122
$252.1K
Market Conditions
NOI Build-Up for 1,944 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
$34.8K $17.88/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$32.4K $16.67/SF
− OpEx
−$9.7K −$5.00/SF
NOI
$22.7K $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%
$453,820
Cap Rate 7%
$324,157
Cap Rate 9%
$252,122
Alternative Uses
Best Use
Multifamily LT 5
$324.2K
$283.6K – $378.2K
NOI $22,691 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$255.4K
$223.5K – $298.0K
NOI $17,879 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$505.6K
$442.4K – $589.9K
NOI $35,395 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
Explore this area
Business Placement
Demographics for 33704, FL
16,031
Population
9,037
Households
1.8
Avg Household Size
46
Median Age
58%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
4,715
Density / Sq Mi
$102,647
Median Household Income
$63,803
Median Earnings
$1,398
Median Rent
$657,400
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 - Charming triplex near downtown St. Petersburg with income potential.
Where is this triplex located?
The property is located at 1500 30TH Ave N St Petersburg, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: High income potential with projected market rents significantly exceeding current rents (Units A, B, and C).; Prime location minutes from downtown St. Petersburg, restaurants, shopping, entertainment, Tampa Bay, and Gulf Beaches.; Triplex configuration offers flexibility for investment or owner‑occupancy with rental income.
