Planned 74-Unit Multifamily Development
For Sale
Contact for pricing
200 17th Street North, St Petersburg, FL 33713
A boutique-scale multifamily development site with a planned 74-unit apartment community and substantial predevelopment documentation package.
Property Size34,049 SF
Price / SF$119.53
Days on Market71
Property Features for 200 17th Street North
General Information
Standard status
Active
Size
34,049 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
74
Building Details
Year Built
2026
Listing Agency:
GREA
Listed By:
Ken Wellar · License #PA 10401252368
Source:
Crexi
Added: May 28
Changed: Jul 21
Last Checked: Aug 6 at 6:13AM
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 GREA
Investment Insights
Based on property information with market context.
200 17th Street North is a boutique-scale multifamily development site positioned for a planned 74-unit apartment community. The offering includes a substantial predevelopment package with architectural, civil, structural, and MEPF drawings, along with landscape plans, survey, geotechnical report, and a Phase I Environmental Site Assessment. Additional materials included are hydrant flow information, engineering review documentation, and City permit materials.
Located in St. Petersburg’s EDGE District, the property is described as a walkable urban submarket within the Downtown area. The EDGE is noted as running along Central Avenue between 9th and 16th Streets. The remarks also cite proximity to the Historic Gas Plant District redevelopment, led by the Tampa Bay Rays and Hines, described as being less than half a mile from the site.
For a buyer, developer, or capital partner seeking a project with an advanced level of diligence rather than a raw land acquisition, the documentation package is intended to provide a meaningful head start.
Located in St. Petersburg’s EDGE District, the property is described as a walkable urban submarket within the Downtown area. The EDGE is noted as running along Central Avenue between 9th and 16th Streets. The remarks also cite proximity to the Historic Gas Plant District redevelopment, led by the Tampa Bay Rays and Hines, described as being less than half a mile from the site.
For a buyer, developer, or capital partner seeking a project with an advanced level of diligence rather than a raw land acquisition, the documentation package is intended to provide a meaningful head start.
Key Highlights
- Boutique‑scale multifamily development site at 200 17th Street North in St. Petersburg
- Planned 74‑unit apartment community within the Edge District/Downtown St. Pete area
- Year built: 2026 (planned)
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
$313,152
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
7.69%
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%
$6,263,040
$6.3M
Cap Rate 7%
$4,473,600
$4.5M
Cap Rate 9%
$3,479,467
$3.5M
Market Conditions
NOI Build-Up for 34,049 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
$612.9K $18.00/SF
− Vacancy
−$43.5K −$1.28/SF
EGI
$569.4K $16.72/SF
− OpEx
−$256.2K −$7.52/SF
NOI
$313.2K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$6,263,040
Cap Rate 7%
$4,473,600
Cap Rate 9%
$3,479,467
Alternative Uses
Best Use
Apartment 5plus
$4.47M
$3.91M – $5.22M
NOI $313,152 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.86M
$7.75M – $10.33M
NOI $619,949 @ 7.0% cap · market cap 15.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
74
Residential units
Location Intelligence
Trade Area within ½ mile
2,723
Businesses Nearby
Explore this area
Business Placement
Demographics for 33713, FL
31,321
Population
16,192
Households
1.9
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
6.5 sq mi
ZIP Area
4,819
Density / Sq Mi
$69,704
Median Household Income
$43,282
Median Earnings
$1,387
Median Rent
$279,000
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?
Apartment building - A boutique-scale multifamily development site with a planned 74-unit apartment community and substantial predevelopment documentation package.
Where is this apartment building located?
The property is located at 200 17th Street North St Petersburg, FL.
What is the asking price?
The asking price for this property is $4,070,000.
What are key features of this property?
This property features: Boutique‑scale multifamily development site at 200 17th Street North in St. Petersburg; Planned 74‑unit apartment community within the Edge District/Downtown St. Pete area; Year built: 2026 (planned)
