Triplex with Two Rear
For Sale
$849,900
306 MARSHALL, Clearwater, FL 33755
A two-dwelling triplex featuring a 3-bedroom, 2-bath front home and two 1-bedroom, 1-bath rear units.
Property Size2,724 SF
Days on Market49
Property Features for 306 MARSHALL
General Information
Standard status
Active
Size
2,724 SF
Property subtype
Investment
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$10,895
Building Details
Building Size
2,724 SF
Year Built
1925
Units
3
Listing Agency:
KELLER WILLIAMS SOUTH TAMPA
Listed By:
Neill Boyd · License #3403669
(813) 767-2694
Source:
Elliman
Added: Jul 21
Changed: Aug 22
Last Checked: Sep 7 at 9:50AM
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 KELLER WILLIAMS SOUTH TAMPA
Investment Insights
Based on property information with market context.
306 Marshall St offers a versatile triplex layout with a spacious front house and a rear structure containing two additional units. The front home is configured as a 3-bedroom, 2-bath residence, while the rear structure provides two separate 1-bedroom, 1-bath units.
The property is located in Clearwater, with walk, bike, and transit scores reported as 61, 70, and 49, respectively. The location is described as close to downtown Clearwater activities and area attractions.
This setup allows for flexible occupancy or rental use, combining a larger front residence with two smaller units in the back structure.
The property is located in Clearwater, with walk, bike, and transit scores reported as 61, 70, and 49, respectively. The location is described as close to downtown Clearwater activities and area attractions.
This setup allows for flexible occupancy or rental use, combining a larger front residence with two smaller units in the back structure.
Key Highlights
- 1925‑built two‑dwelling triplex with a 3‑bedroom, 2‑bath front home and two 1‑bedroom, 1‑bath rear units
- Flexible setup for multi‑generational living or rental income with three total dwelling units
- BikeScore 70 (very bikeable) and WalkScore 61 (somewhat walkable)
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
$37,572
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
4.42%
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%
$751,440
$751.4K
Cap Rate 7%
$536,743
$536.7K
Cap Rate 9%
$417,467
$417.5K
Market Conditions
NOI Build-Up for 2,724 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
$57.2K $21.00/SF
− Vacancy
−$3.5K −$1.30/SF
EGI
$53.7K $19.70/SF
− OpEx
−$16.1K −$5.91/SF
NOI
$37.6K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /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%
$751,440
Cap Rate 7%
$536,743
Cap Rate 9%
$417,467
Alternative Uses
Best Use
Multifamily LT 5
$536.7K
$469.7K – $626.2K
NOI $37,572 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$480.3K
$420.3K – $560.3K
NOI $33,620 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$764.2K
$668.7K – $891.6K
NOI $53,497 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 33755, FL
28,360
Population
11,872
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,156
Density / Sq Mi
$59,613
Median Household Income
$36,206
Median Earnings
$1,340
Median Rent
$300,200
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?
Triplex - A two-dwelling triplex featuring a 3-bedroom, 2-bath front home and two 1-bedroom, 1-bath rear units.
Where is this triplex located?
The property is located at 306 MARSHALL Clearwater, FL.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 1925‑built two‑dwelling triplex with a 3‑bedroom, 2‑bath front home and two 1‑bedroom, 1‑bath rear units; Flexible setup for multi‑generational living or rental income with three total dwelling units; BikeScore 70 (very bikeable) and WalkScore 61 (somewhat walkable)
