Updated Triplex with Studio
New
For Sale
$599,000
1500 30th Ave N, St Petersburg, FL 33704
Corner-lot property with three residential units, on-site parking, shared storage, and access to downtown St. Petersburg.
Property Size1,944 SF
Price / SF$308.13
Days on Market6
Property Features for 1500 30th Ave N
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Multi-Family
Building Details
Year Built
1949
Listing Agency:
EXP REALTY LLC
Listed By:
Maria Crespo · License #3259788
(813) 230-1787
Source:
Fulcrum-residential
Added: Sep 5
Last Checked: Sep 9 at 9:05PM
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 1,944-square-foot triplex at 1500 30th Ave N includes two one-bedroom, one-bath units at the front of the property and a studio apartment at the rear. Units A and B retain period details such as coved ceilings and arched doorways, with original hardwood flooring in Unit A and ceramic tile in Unit B. Improvements since 2019 include remodeled kitchens, newer appliances, updated windows, fresh paint, and washer and dryer hookups. The HVAC system was replaced in 2017.
Converted in 2019, Unit C features a combined living and sleeping area, eat-in kitchen, and full bathroom, with convenient alley access. The corner-lot property also provides on-site parking and shared tenant storage in the remaining garage area. Built in 1949 with block construction, the triplex is minutes from downtown St. Petersburg, restaurants, shopping, entertainment, Tampa Bay, and Gulf Beaches.
Converted in 2019, Unit C features a combined living and sleeping area, eat-in kitchen, and full bathroom, with convenient alley access. The corner-lot property also provides on-site parking and shared tenant storage in the remaining garage area. Built in 1949 with block construction, the triplex is minutes from downtown St. Petersburg, restaurants, shopping, entertainment, Tampa Bay, and Gulf Beaches.
Key Highlights
- Three‑unit triplex with 1,944 SF of building area
- Unit mix includes two 1‑bedroom, 1‑bath units and one studio
- Unit C was converted into a studio apartment in 2019
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
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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
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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 - Corner-lot property with three residential units, on-site parking, shared storage, and access to downtown St. Petersburg.
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: Three‑unit triplex with 1,944 SF of building area; Unit mix includes two 1‑bedroom, 1‑bath units and one studio; Unit C was converted into a studio apartment in 2019
