321-323 CRYSTAL BEACH AVENUE, Crystal Beach, FL 34681

Building Details

Year Built 1972 More

Buildings 1 More

Tenancy Multi More

Listing Agency: F I GREY & SON RESIDENTIAL Show Phone

Listed By: Mike O'Brien · License #3499725 Show Phone

Source: Dennisrealty

Added: Nov 5 Changed: Nov 8 Last Checked: Nov 8 at 4:09PM

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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 F I GREY & SON RESIDENTIAL

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Investment Insights

Based on property information with market context.

At 321-323 Crystal Beach Avenue, this duplex contains 1,674 square feet across two matching apartments, each with two bedrooms and one bathroom. Built in 1972, the property has updated plumbing and a new central air conditioning system for each unit. Interiors include open living areas, luxury vinyl plank and tile flooring, updated kitchens, cabinetry, and appliances. The grounds include a landscaped backyard and parking near the front entrances.

The property is steps from the 45-mile Pinellas Trail. Fred Howard Park and Honeymoon Island State Park are a 10-to-15-minute drive away. The duplex is fully occupied by long-term tenants.

Key Highlights

• Two apartments, each with 2 bedrooms and 1 bathroom
• 1,674 square feet total; built in 1972
• Updated plumbing and new central air conditioning systems on both sides

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,540

Cap Rate

5.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$390,800 $390.8K

Cap Rate 7%

$279,143 $279.1K

Cap Rate 9%

$217,111 $217.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,674 SF

Gross rent

$29.9K $17.88/SF

− Vacancy

−$2.0K −$1.21/SF

EGI

$27.9K $16.67/SF

− OpEx

−$8.4K −$5.00/SF

NOI

$19.5K $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 Rate 5%

$390,800

Cap Rate 7%

$279,143

Cap Rate 9%

$217,111

Alternative Uses

Best Use

Multifamily LT 5

$279.1K

$244.3K – $325.7K (±1% cap)

NOI $19,540 @ 7.0% cap · market cap 5.02%

Second Best

Apartment 5plus

$259.5K

$227.1K – $302.8K (±1% cap)

NOI $18,167 @ 7.0% cap · market cap 4.67%

Theoretical Best

Office A

$435.4K

$381.0K – $508.0K (±1% cap)

NOI $30,479 @ 7.0% cap · market cap 7.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

610

Businesses Nearby

Explore this area Business Placement

Demographics for 34681, FL

1,884

Population

615

Households

3.1

Avg Household Size

53

Median Age

50%

College-Educated

94%

High-School Grad

0.7 sq mi

ZIP Area

2,691

Density / Sq Mi

$77,106

Median Earnings

$680,500

Median Home Value

Market

Average Price Trend$/SF for Duplexes in Pinellas County, FL

$365 Jul

$346 Aug

$346 Sep

$355 Oct

Properties on Market for Duplexes in Pinellas County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two matching apartments feature refreshed kitchens, durable flooring, and separate central air systems.

Where is this duplex located?

The property is located at 321-323 CRYSTAL BEACH AVENUE Crystal Beach, FL.

What is the asking price?

The asking price for this property is $389,000.

What are key features of this property?

This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 1,674 square feet total; built in 1972; Updated plumbing and new central air conditioning systems on both sides