Vacant Duplex Near Central
For Sale
$630,000
2310 29th St N, St Petersburg, FL 33713
Vacant duplex offering flexible owner-occupant or rental use in central St. Petersburg.
Property Size1,908 SF
Price / SF$330.19
Days on Market12
Property Features for 2310 29th St N
General Information
Standard status
Active
Size
1,908 SF
Property subtype
Multi-Family
Building Details
Year Built
1983
Listing Agency:
KELLER WILLIAMS ST PETE REALTY
(803) 569-5658
Listed By:
Amber Bennett · License #3402468
Source:
Flflourish
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 9:01PM
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 KELLER WILLIAMS ST PETE REALTY
Investment Insights
Based on property information with market context.
Built in 1983, this 1,908-square-foot duplex at 2310 29th St N includes two residential units and is currently vacant. The property can support an owner-occupant arrangement or continued use as a residential income asset, with each unit configured around a one-bathroom layout; the bedroom count is not specified. Its vacant status provides flexibility for a new owner to make updates or establish a preferred occupancy plan.
The property is positioned near Central Avenue’s shops and restaurants, with access to downtown St. Petersburg and the Gulf beaches. The location is described as approximately 20 minutes from the beach and within flood zone X.
The property is positioned near Central Avenue’s shops and restaurants, with access to downtown St. Petersburg and the Gulf beaches. The location is described as approximately 20 minutes from the beach and within flood zone X.
Key Highlights
- 1,908 SF duplex built in 1983
- Currently vacant, providing flexibility for occupancy or updates
- Located at 2310 29th St N, St Petersburg, FL 33713
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
$22,271
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
3.54%
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%
$445,420
$445.4K
Cap Rate 7%
$318,157
$318.2K
Cap Rate 9%
$247,456
$247.5K
Market Conditions
NOI Build-Up for 1,908 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
$34.1K $17.88/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$31.8K $16.67/SF
− OpEx
−$9.5K −$5.00/SF
NOI
$22.3K $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%
$445,420
Cap Rate 7%
$318,157
Cap Rate 9%
$247,456
Alternative Uses
Best Use
Multifamily LT 5
$318.2K
$278.4K – $371.2K
NOI $22,271 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$250.7K
$219.4K – $292.5K
NOI $17,548 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$496.3K
$434.3K – $579.0K
NOI $34,740 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
968
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vacant duplex offering flexible owner-occupant or rental use in central St. Petersburg.
Where is this duplex located?
The property is located at 2310 29th St N St Petersburg, FL.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 1,908 SF duplex built in 1983; Currently vacant, providing flexibility for occupancy or updates; Located at 2310 29th St N, St Petersburg, FL 33713
