St. Petersburg Multifamily Development
1750 SECOND AVENUE N St Petersburg, FL 33713
1750 SECOND AVENUE N, St Petersburg, FL, 33713
$2,800,000
For Sale
$2,800,000
Multi Family - ST PETERSBURG, FL
Property Size22,950 SF
Lot Size0.14 Acres
Price / SF$122
Days on Market1229
Property Features for 1750 SECOND AVENUE N
General Information
- Property type
- Commercial Sale
- Property subtype
- Single Family Attached
- Property condition
- New Construction
- Zoning
- COMMERCIAL
- Standard status
- Active
- APN
- 24-31-16-29718-011-0070
- Size
- 22,950 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2022
- Tax Annual Amount
- 3558
Building Details
- Year built
- 2023
- Building materials
- Block
- Architectural style
- Other
Listing Agency
MCBRIDE KELLY & ASSOCIATES
(813) 254-0900
326 S Hyde Park Ave, Tampa, FL
Listed by
Craig Clark
(656) 215-2967
Added: Mar 9, 2023 Updated: Jun 5 at 6:31 am Checked: Jul 20 at 5:06 pm
MLS# T3433043
Listing URL
Copyright © 2026 Pinellas Suncoast Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a pre-construction, ground-up multifamily development opportunity located in the Edge District of downtown St. Petersburg, Florida. The site has approved plans for 33 new construction rental apartments, offering high rent yields. The location is in a high-demand rental district within the Tampa/St. Pete area, recognized as a top-ranked location by Forbes magazine. The property is within walking distance of restaurants, the pier, bars, and local art galleries. It is also located a short distance from highly-rated beaches. The lot size is 0.14 acres, which is equivalent to 22950 square feet. Architectural plans and construction bids are available. Construction bids are approximately 6.66 million.
Key Highlights
- Approved plans for a 33‑unit new construction apartment building.
- Located in the highly desirable Edge District of downtown St. Pete.
- High rent yields expected in a top‑ranked rental market (Tampa/St. Pete area).
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $413.1k | $18.00 |
| − Vacancy | −$29.3k | −$1.28 |
| EGI | $383.8k | $16.72 |
| − OpEx | −$172.7k | −$7.52 |
| NOI | $211.1k | $9.20 |
22,950 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.02M
$2.64M – $3.52M
NOI $211,073 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.97M
$5.22M – $6.96M
NOI $417,863 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Approved plans for 33 new apartments in St. Petersburg.
Where is this apartment building located?
The property is located at 1750 SECOND AVENUE N St Petersburg, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Approved plans for a **33‑unit new construction apartment building.**; Located in the **highly desirable Edge District** of downtown St. Pete.; High rent yields expected in a top‑ranked rental market (Tampa/St. Pete area).
