Duplex with Separate Rear
New
For Sale
$515,000
245 115TH Avenue, Treasure Island, FL 33706
Residential Income, TREASURE ISLAND, FL
Property Size1,488 SF
Lot Size0.12 Acres
Price / SF$346.10
Days on Market3
Property Features for 245 115TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RINC
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1
Parking features
Covered, Driveway, Guest
Patio and Porch features
Porch
Interior features
Ceiling Fans(s)
Exterior features
Storage
Appliances
Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Subdivision
ISLE OF PALMS
Lot features
Flood Insurance Required
Elementary school
Azalea Elementary-PN
Middle school
Azalea Middle-PN
High school
Boca Ciega High-PN
Directions
Heading north on Gulf Boulevard, turn right onto 112th Avenue. Cross the small bridge into Isle of Palms, then turn left onto 1st Street East. Follow the curve onto 115th Avenue to **245 115th Ave**
Special listing conditions
Probate Listing
Standard status
Active
APN
23-31-15-43470-001-0030
Size
1,488 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ISLE OF PALMS BLK A, LOT 3
Tax Annual Amount
5338
Legal Description
ISLE OF PALMS BLK A, LOT 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Number of units
2
Flooring type
Terrazzo
Building materials
Block
Roof type
Built-Up
Additional Structures
Storage
Listing Agency:
COASTAL PROPERTIES GROUP INTERNATIONAL
(727) 493-1555
Listed By:
Kendra Fountain · License #3440645
(727) 420-6791
Added: Oct 16
Changed: Oct 18
Last Checked: Oct 18 at 4:06AM
MLS# TB8557813
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.
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Investment Insights
Based on property information with market context.
This block duplex on a 0.12-acre parcel contains 1,488 square feet across two separate homes. The front residence has two bedrooms and one bathroom; a detached rear home adds one bedroom and one bathroom. Built in 1960, the property features central heating and air conditioning, terrazzo flooring, a porch, and storage. Covered parking and a driveway are available, with additional guest parking.
The property is in Treasure Island, Florida, in Pinellas County. Public water and sewer serve the site, and cable is available. Zoning is RINC.
The property is in Treasure Island, Florida, in Pinellas County. Public water and sewer serve the site, and cable is available. Zoning is RINC.
Key Highlights
- Two separate homes on one 0.12‑acre lot
- 1,488 square feet across the property
- Front home: 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,369
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$347,380
$347.4K
Cap Rate 7%
$248,129
$248.1K
Cap Rate 9%
$192,989
$193.0K
Market Conditions
NOI Build-Up for 1,488 SF
Gross rent
$26.6K $17.88/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$24.8K $16.67/SF
− OpEx
−$7.4K −$5.00/SF
NOI
$17.4K $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%
$347,380
Cap Rate 7%
$248,129
Cap Rate 9%
$192,989
Alternative Uses
Best Use
Multifamily LT 5
$248.1K
$217.1K – $289.5K
NOI $17,369 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$195.5K
$171.1K – $228.1K
NOI $13,685 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$387.0K
$338.7K – $451.6K
NOI $27,093 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Explore this area
Business Placement
Demographics for 33706, FL
15,309
Population
14,199
Households
1.1
Avg Household Size
60
Median Age
54%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,138
Density / Sq Mi
$97,364
Median Household Income
$80,504
Median Earnings
$1,646
Median Rent
$616,800
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 residences on one parcel provide separate living spaces and flexible rental arrangements.
Where is this duplex located?
The property is located at 245 115TH Avenue Treasure Island, FL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two separate homes on one 0.12‑acre lot; 1,488 square feet across the property; Front home: 2 bedrooms and 1 bathroom
