Triplex Property with Retail
New
For Sale
$1,393,500
2540 1ST Avenue N, St Petersburg, FL 33713
Residential Income, ST PETERSBURG, FL
Property Size2,965 SF
Lot Size0.04 Acres
Price / SF$469.98
Days on Market5
Property Features for 2540 1ST Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Property condition
Under Construction
Zoning
CRT-2
Bedrooms
4
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Family Room, Bathroom 6, Bathroom 5, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 1
Parking features
On Street
Security features
Security
Patio and Porch features
Patio, Porch
Pets allowed
Size Limit, Yes, Number Limit
Interior features
Ceiling Fans(s), Eat-in Kitchen, High Ceilings, Kitchen/Family Room Combo, PrimaryBedroom Upstairs, Solid Wood Cabinets, Stone Counters, Thermostat, Walk-In Closet(s)
Exterior features
Balcony, Fence, Lighting, Private Entrance, Rain Gutters, Sidewalk
Fencing
Fenced
Subdivision
CLEMMONS COURT
Lot features
City Limits, Near Public Transit, Sidewalk, Street One Way, Paved
View
City
Directions
Head West on First Avenue and the homes will be on your left past 25th Avenue North.
Standard status
Active
APN
23-31-16-16690-000-0060
Size
2,965 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CLEMMONS COURT LOT 6 and CLEMMONS COURT LOT 4
Tax Annual Amount
7899
Legal Description
CLEMMONS COURT LOT 6 and CLEMMONS COURT LOT 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Exhaust Fan (Heating), Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
European-style courtyard
Building Details
Year built
2025
Floors in Building
3
Flooring type
Hardwood, Tile
Building materials
HardiPlank Type, Frame
Roof type
Shingle
Listing Agency:
COMPASS FLORIDA LLC
(727) 380-2067
Listed By:
Tess Mullinax · License #3391636
(727) 599-3617
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 21 at 12:06AM
MLS# TB8539472
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 under-construction triplex combines a 2,050-square-foot primary residence, a 538-square-foot commercial suite, and a detached garage with a 377-square-foot accessory dwelling unit. The residence includes three bedrooms, 3.5 bathrooms, engineered hardwood flooring, marble finishes, wood cabinetry, high ceilings, and a walk-in closet. The commercial component has a private entrance on First Avenue N and a half-bath. The accessory dwelling unit includes a full kitchen, bathroom, and walk-in closet.
The property totals 2,965 square feet on 0.04 acres and is zoned CRT-2. Public water and public sewer serve the site, with central heating and cooling. Additional features include a fenced yard, patio, porch, balcony, sidewalk access, and on-street parking. The property is identified as being in FEMA Zone X and a non-evacuation zone, with September 2026 delivery.
The property totals 2,965 square feet on 0.04 acres and is zoned CRT-2. Public water and public sewer serve the site, with central heating and cooling. Additional features include a fenced yard, patio, porch, balcony, sidewalk access, and on-street parking. The property is identified as being in FEMA Zone X and a non-evacuation zone, with September 2026 delivery.
Key Highlights
- 2,965 total square feet across three components
- 2,050‑square‑foot primary residence with 3 bedrooms and 3.5 bathrooms
- 538‑square‑foot ground‑floor commercial suite with private First Avenue N entrance
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
$46,036
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
3.30%
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%
$920,720
$920.7K
Cap Rate 7%
$657,657
$657.7K
Cap Rate 9%
$511,511
$511.5K
Market Conditions
NOI Build-Up for 2,965 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
$77.2K $26.04/SF
− Vacancy
−$15.8K −$5.34/SF
EGI
$61.4K $20.70/SF
− OpEx
−$15.3K −$5.18/SF
NOI
$46.0K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$920,720
Cap Rate 7%
$657,657
Cap Rate 9%
$511,511
Alternative Uses
Best Use
Office B
$657.7K
$575.5K – $767.3K
NOI $46,036 @ 7.0% cap · market cap 3.30%
Second Best
Mixed Use
$526.1K
$460.3K – $613.8K
NOI $36,825 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$771.2K
$674.8K – $899.8K
NOI $53,985 @ 7.0% cap · market cap 3.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,217
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-part configuration includes a primary residence, ground-floor commercial suite, and detached accessory dwelling unit.
Where is this triplex located?
The property is located at 2540 1ST Avenue N St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,393,500.
What are key features of this property?
This property features: 2,965 total square feet across three components; 2,050‑square‑foot primary residence with 3 bedrooms and 3.5 bathrooms; 538‑square‑foot ground‑floor commercial suite with private First Avenue N entrance
