Updated Tenant-Occupied
For Sale
$525,000
2343 8TH STREET S, St Petersburg, FL 33705
Two separately occupied units are leased to year-long tenants.
Property Size1,740 SF
Price / SF$301.72
Days on Market58
Property Features for 2343 8TH STREET S
General Information
Standard status
Active
Size
1,740 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1959
Buildings
1
Tenancy
Multi
Listing Agency:
COLDWELL BANKER REALTY
(813) 685-7755
Listed By:
Catherine France · License #3524445
(573) 855-9864
Source:
Endlesssummerrealty
Added: Aug 19
Changed: Oct 15
Last Checked: Oct 15 at 1:19AM
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 COLDWELL BANKER REALTY
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Investment Insights
Based on property information with market context.
This 1,740-square-foot duplex, built in 1959, includes two separately occupied residences with a 3-bedroom, 1-bath unit and a 2-bedroom, 1-bath unit. The interiors have been remodeled, and the property sits on a corner lot. A roof replacement completed in 2020 adds a recent capital improvement to the building.
Located at 2343 8th St S in St. Petersburg, the property offers access to Downtown St. Pete, I-275, Tropicana Field, the surrounding redevelopment area, local restaurants and entertainment, the waterfront, area employers, and Gulf beaches. Both units have year-long tenants in place, providing an occupied duplex configuration for an owner seeking residential rental income.
Located at 2343 8th St S in St. Petersburg, the property offers access to Downtown St. Pete, I-275, Tropicana Field, the surrounding redevelopment area, local restaurants and entertainment, the waterfront, area employers, and Gulf beaches. Both units have year-long tenants in place, providing an occupied duplex configuration for an owner seeking residential rental income.
Key Highlights
- Two‑unit duplex with 1,740 SF of building area
- Unit mix includes one 3‑bedroom, 1‑bath residence and one 2‑bedroom, 1‑bath residence
- Both units have year‑long tenants in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,310
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,200
$406.2K
Cap Rate 7%
$290,143
$290.1K
Cap Rate 9%
$225,667
$225.7K
Market Conditions
NOI Build-Up for 1,740 SF
Gross rent
$31.1K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$29.0K $16.67/SF
− OpEx
−$8.7K −$5.00/SF
NOI
$20.3K $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 Rate 5%
$406,200
Cap Rate 7%
$290,143
Cap Rate 9%
$225,667
Alternative Uses
Best Use
Multifamily LT 5
$290.1K
$253.9K – $338.5K
NOI $20,310 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$228.6K
$200.0K – $266.7K
NOI $16,003 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$452.6K
$396.0K – $528.0K
NOI $31,681 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
490
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately occupied units are leased to year-long tenants.
Where is this duplex located?
The property is located at 2343 8TH STREET S St Petersburg, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,740 SF of building area; Unit mix includes one 3‑bedroom, 1‑bath residence and one 2‑bedroom, 1‑bath residence; Both units have year‑long tenants in place
