Mid-Century Duplex with Terrazzo
New
For Sale
$399,900
316 76th Ave, St Pete Beach, FL 33706
The property includes two one-bedroom, one-bath units plus a detached second structure.
Property Size1,156 SF
Lot Size0.12 Acres
Price / SF$345.93
Days on Market4
Property Features for 316 76th Ave
General Information
Standard status
Active
Size
1,156 SF
Lot size
0.12 Acres
Property subtype
Multi-Family
Zoning
TC-1
Property Condition
Severity
Repairs Needed
Evidence
cosmetically and structurally, it's being offered as-is
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1955
Construction
masonry
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
Listed By:
Don Taylor · License #301755
(727) 458-7828
Source:
Flflourish
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 7:20PM
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 SMITH & ASSOCIATES REAL ESTATE
Investment Insights
Based on property information with market context.
Built in 1955, this 1,156-square-foot duplex contains two one-bedroom, one-bath residences and a detached second structure on a 5,375 sf lot. Terrazzo flooring remains throughout, while mechanical improvements include 2018 central AC, new ductless mini-splits, and a new electric water heater. The property is offered as-is, with cosmetic and structural work identified as part of the opportunity.
The site is at 316 76th Ave in St Pete Beach, across from Horan Park and the city’s family aquatic center. Corey Avenue shops, restaurants, and the Sunday Market are a 3-4 minute stroll away; Upham Beach is approximately a half-mile walk or an easy bike ride. Zoned TC-1, the parcel’s listed neighborhood-commercial uses include office, retail, dining, artist studios and galleries, printing/copying, and commercial kitchens, subject to city review and applicable requirements.
The site is at 316 76th Ave in St Pete Beach, across from Horan Park and the city’s family aquatic center. Corey Avenue shops, restaurants, and the Sunday Market are a 3-4 minute stroll away; Upham Beach is approximately a half-mile walk or an easy bike ride. Zoned TC-1, the parcel’s listed neighborhood-commercial uses include office, retail, dining, artist studios and galleries, printing/copying, and commercial kitchens, subject to city review and applicable requirements.
Key Highlights
- Two 1BR/1BA units plus a detached second structure
- 1,156 SF duplex on a 5,375 sf lot
- Terrazzo flooring throughout the duplex
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
$13,493
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
3.37%
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%
$269,860
$269.9K
Cap Rate 7%
$192,757
$192.8K
Cap Rate 9%
$149,922
$149.9K
Market Conditions
NOI Build-Up for 1,156 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
$20.7K $17.88/SF
− Vacancy
−$1.4K −$1.21/SF
EGI
$19.3K $16.67/SF
− OpEx
−$5.8K −$5.00/SF
NOI
$13.5K $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%
$269,860
Cap Rate 7%
$192,757
Cap Rate 9%
$149,922
Alternative Uses
Best Use
Multifamily LT 5
$192.8K
$168.7K – $224.9K
NOI $13,493 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$151.9K
$132.9K – $177.2K
NOI $10,632 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$300.7K
$263.1K – $350.8K
NOI $21,048 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,054
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
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 - The property includes two one-bedroom, one-bath units plus a detached second structure.
Where is this duplex located?
The property is located at 316 76th Ave St Pete Beach, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two 1BR/1BA units plus a detached second structure; 1,156 SF duplex on a 5,375 sf lot; Terrazzo flooring throughout the duplex
