Duplex on Oversized
For Sale
$410,000
1615 14TH STREET S, St Petersburg, FL 33705
Two separate residences offer off-street parking, public utilities, and independently metered electric and water service.
Property Size1,848 SF
Lot Size0.31 Acres
Price / SF$221.86
Days on Market15
Property Features for 1615 14TH STREET S
General Information
Standard status
Active
Size
1,848 SF
Lot size
0.31 Acres
Property subtype
Duplex
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
FRANKLIN & ASSOCIATES REALTY
(727) 420-8110
Listed By:
Mo Franklin · License #3075895
Source:
Endlesssummerrealty
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 30 at 4:43PM
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 FRANKLIN & ASSOCIATES REALTY
Investment Insights
Based on property information with market context.
This duplex contains two separate units within a 1,848-square-foot property built in 1920. The improvements include updated electrical systems, separate water and electric meters, and off-street parking. Public water and sewer serve the property, supporting its current residential configuration.
The property occupies a 90-by-150-foot lot in St. Petersburg, near downtown St. Petersburg. Future construction or a possible lot split may be considered, subject to City of St. Petersburg zoning, permitting, land-use requirements, and final approval. Buyers should independently verify all redevelopment options with the City.
The property occupies a 90-by-150-foot lot in St. Petersburg, near downtown St. Petersburg. Future construction or a possible lot split may be considered, subject to City of St. Petersburg zoning, permitting, land-use requirements, and final approval. Buyers should independently verify all redevelopment options with the City.
Key Highlights
- Two‑unit duplex with 1,848 square feet
- Oversized 90‑by‑150‑foot lot
- Updated electrical systems
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
$21,571
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
5.26%
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%
$431,420
$431.4K
Cap Rate 7%
$308,157
$308.2K
Cap Rate 9%
$239,678
$239.7K
Market Conditions
NOI Build-Up for 1,848 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
$33.0K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$30.8K $16.67/SF
− OpEx
−$9.2K −$5.00/SF
NOI
$21.6K $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%
$431,420
Cap Rate 7%
$308,157
Cap Rate 9%
$239,678
Alternative Uses
Best Use
Multifamily LT 5
$308.2K
$269.6K – $359.5K
NOI $21,571 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$242.8K
$212.5K – $283.3K
NOI $16,996 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$480.7K
$420.6K – $560.8K
NOI $33,648 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,393
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
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 - Two separate residences offer off-street parking, public utilities, and independently metered electric and water service.
Where is this duplex located?
The property is located at 1615 14TH STREET S St Petersburg, FL.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,848 square feet; Oversized 90‑by‑150‑foot lot; Updated electrical systems
