Four-Unit Quadplex with Separate
New
For Sale
$836,600
2938 BEACH Boulevard S, Gulfport, FL 33707
Residential Income, GULFPORT, FL
Property Size2,792 SF
Lot Size0.13 Acres
Price / SF$299.64
Days on Market1
Property Features for 2938 BEACH Boulevard S
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 1, Bathroom 5, Bathroom 4, Bedroom 4, Bathroom 3
Interior features
Ninguno
Exterior features
Fence
Fencing
Fenced
Subdivision
BOCA CEIGA PARK
Directions
58th St. S to 28th Ave S turn East, Go to Beach Blvd and turn South. Building is on left hand side.
Standard status
Active
APN
33-31-16-09612-001-0070
Size
2,792 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BOCA CEIGA PARK BLK A, LOT 7
Tax Annual Amount
9446
Legal Description
BOCA CEIGA PARK BLK A, LOT 7
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
4
Flooring type
Wood
Building materials
Block, Frame
Roof type
Shingle
Listing Agency:
BHHS FLORIDA PROPERTIES GROUP · Berkshire Hathaway HomeServices
(727) 461-1700
Listed By:
Maryann Spearman · License #3234385
(727) 709-2374
Added: Aug 22
Last Checked: Aug 22 at 11:06PM
MLS# TB8541497
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 2,792-square-foot quadplex property includes four units arranged across two buildings. Three units occupy a two-story block structure, while the fourth is in a separate single-unit building. One unit is currently livable; the other three require substantial renovation and repairs. The property was built in 1920 and has a shingle roof replaced in 2020, along with fencing and public water and sewer service.
The 0.13-acre corner parcel is located at Beach Boulevard S and 30th Avenue S in Gulfport’s Waterfront Redevelopment District. Gulfport Beach, the Gulfport Pier, restaurants, shops, galleries, breweries, and the Gulfport Art Walk are identified nearby. Any future use or development remains subject to zoning requirements and City of Gulfport approval.
The 0.13-acre corner parcel is located at Beach Boulevard S and 30th Avenue S in Gulfport’s Waterfront Redevelopment District. Gulfport Beach, the Gulfport Pier, restaurants, shops, galleries, breweries, and the Gulfport Art Walk are identified nearby. Any future use or development remains subject to zoning requirements and City of Gulfport approval.
Key Highlights
- Four total units across two buildings
- 2,792 square feet on a 0.13‑acre parcel
- Three units in a two‑story block building; one in a separate building
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
$32,589
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
3.90%
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%
$651,780
$651.8K
Cap Rate 7%
$465,557
$465.6K
Cap Rate 9%
$362,100
$362.1K
Market Conditions
NOI Build-Up for 2,792 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
$49.9K $17.88/SF
− Vacancy
−$3.4K −$1.21/SF
EGI
$46.6K $16.67/SF
− OpEx
−$14.0K −$5.00/SF
NOI
$32.6K $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%
$651,780
Cap Rate 7%
$465,557
Cap Rate 9%
$362,100
Alternative Uses
Best Use
Multifamily LT 5
$465.6K
$407.4K – $543.2K
NOI $32,589 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$366.8K
$321.0K – $428.0K
NOI $25,678 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$726.2K
$635.4K – $847.3K
NOI $50,835 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
445
Businesses Nearby
Explore this area
Business Placement
Demographics for 33707, FL
24,646
Population
16,579
Households
1.5
Avg Household Size
58
Median Age
40%
College-Educated
95%
High-School Grad
5.3 sq mi
ZIP Area
4,650
Density / Sq Mi
$68,560
Median Household Income
$45,513
Median Earnings
$1,512
Median Rent
$344,600
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?
Quadplex - Two buildings contain four units, with one currently livable and three requiring substantial renovation.
Where is this quadplex located?
The property is located at 2938 BEACH Boulevard S Gulfport, FL.
What is the asking price?
The asking price for this property is $836,600.
What are key features of this property?
This property features: Four total units across two buildings; 2,792 square feet on a 0.13‑acre parcel; Three units in a two‑story block building; one in a separate building
