Updated Two-Unit
New
For Sale
$535,000
2343 8TH Street S, St Petersburg, FL 33705
Residential Income, ST PETERSBURG, FL
Property Size1,740 SF
Lot Size0.13 Acres
Price / SF$307.47
Days on Market3
Property Features for 2343 8TH Street S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 2, Bathroom 1, Family Room, Bedroom 4, Bedroom 1
Interior features
Eat-in Kitchen, Kitchen/Family Room Combo, Open Floorplan, Solid Surface Counters, Thermostat
Exterior features
Fence
Fencing
Fenced
Appliances
Dishwasher, Dryer, Freezer, Microwave, Range, Refrigerator, Washer
Subdivision
JAMIN & JERKINS LAKEVIEW SUB
Lot features
Corner Lot
Directions
From I-275, take Exit 18 for 26th Ave S. Head east on 26th Ave S, turn left (north) onto 8th St S. Property will be on the corner.
Standard status
Active
APN
31-31-17-43830-001-0150
Size
1,740 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
JAMIN & JERKINS' LAKEVIEW SUB BLK A, LOT 15
Tax Annual Amount
6987
Legal Description
JAMIN & JERKINS' LAKEVIEW SUB BLK A, LOT 15
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central, Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1959
Floors in Building
1
Building materials
Block
Roof type
Shingle
Listing Agency:
COLDWELL BANKER REALTY · Coldwell Banker Real Estate
(813) 685-7755
Listed By:
Catherine France
(573) 855-9864
Added: Aug 18
Changed: Aug 20
Last Checked: Aug 20 at 11:06PM
MLS# TB8540497
Copyright © 2026 Stellar MLS. 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 duplex contains 1,740 square feet across two separately occupied residences. The unit mix includes one three-bedroom, one-bath layout and one two-bedroom, one-bath layout. Both interiors have been remodeled, and the property sits on a fenced corner lot. A shingle roof installed in 2020 adds a recent major building improvement. Kitchens include solid surface counters, dishwashers, ranges, refrigerators, microwaves, freezers, washers, and dryers, while heating and cooling systems include central and ductless options along with window or wall units.
Year-long tenants are in place in both units. The property is located at 2343 8TH Street S in St. Petersburg, with stated access to Downtown St. Pete, I-275, Tropicana Field, local restaurants and entertainment, the waterfront, area employers, and Gulf beaches. Public water and public sewer serve the property, with electricity available.
Year-long tenants are in place in both units. The property is located at 2343 8TH Street S in St. Petersburg, with stated access to Downtown St. Pete, I-275, Tropicana Field, local restaurants and entertainment, the waterfront, area employers, and Gulf beaches. Public water and public sewer serve the property, with electricity available.
Key Highlights
- Two‑unit duplex with 1,740 square feet of building area
- Unit mix includes one 3‑bedroom, 1‑bath unit and one 2‑bedroom, 1‑bath unit
- Both units have year‑long tenants in place
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
$20,310
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
3.80%
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%
$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
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
$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 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%
$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 3.80%
Second Best
Apartment 5plus
$228.6K
$200.0K – $266.7K
NOI $16,003 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$452.6K
$396.0K – $528.0K
NOI $31,681 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 separately occupied units offer remodeled interiors and established year-long tenancy.
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 $535,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,740 square feet of building area; Unit mix includes one 3‑bedroom, 1‑bath unit and one 2‑bedroom, 1‑bath unit; Both units have year‑long tenants in place
