Multifamily Property with Private
For Sale
$449,000
3235 EMERSON AVENUE S, St Petersburg, FL 33712
Multifamily property featuring attached construction and a combination of central air and ductless cooling systems.
Property Size1,472 SF
Price / SF$305.03
Days on Market126
Property Features for 3235 EMERSON AVENUE S
General Information
Standard status
Active
Size
1,472 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,018
Amenities
Central Air, Wall/Window Unit(s)
Electric, Ductless
Attached
Private Entrance
Building Details
Year Built
1960
Listing Agency:
Keller Williams Gulfside
(727) 331-3759
Listed By:
Mittu Mathew · License #3512493
(727) 331-3759
Source:
Evrealestate
Added: Apr 10
Changed: Aug 9
Last Checked: Aug 12 at 6:00AM
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 Gulfside
Investment Insights
Based on property information with market context.
This multifamily property was built in 1960 and includes attached construction with a private entrance. Interior climate features include central air, wall/window unit(s), and electric ductless systems.
The property is located at 3235 Emerson Avenue S in St. Petersburg, Florida, within Pinellas County. Access directions include Exit 21 from 275 S, followed by 28th Street S, Fairfield Avenue S, 31st Street S, and Emerson Avenue S.
The property is located at 3235 Emerson Avenue S in St. Petersburg, Florida, within Pinellas County. Access directions include Exit 21 from 275 S, followed by 28th Street S, Fairfield Avenue S, 31st Street S, and Emerson Avenue S.
Key Highlights
- Multifamily property at 3235 Emerson Avenue S, St. Petersburg, FL 33712
- Built in 1960
- Attached construction
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
$13,538
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
3.02%
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%
$270,760
$270.8K
Cap Rate 7%
$193,400
$193.4K
Cap Rate 9%
$150,422
$150.4K
Market Conditions
NOI Build-Up for 1,472 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
$26.5K $18.00/SF
− Vacancy
−$1.9K −$1.28/SF
EGI
$24.6K $16.72/SF
− OpEx
−$11.1K −$7.52/SF
NOI
$13.5K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$270,760
Cap Rate 7%
$193,400
Cap Rate 9%
$150,422
Alternative Uses
Best Use
Apartment 5plus
$193.4K
$169.2K – $225.6K
NOI $13,538 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$382.9K
$335.0K – $446.7K
NOI $26,802 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 33712, FL
26,395
Population
13,055
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
6.4 sq mi
ZIP Area
4,124
Density / Sq Mi
$57,729
Median Household Income
$39,589
Median Earnings
$1,440
Median Rent
$300,600
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?
Multifamily property - Multifamily property featuring attached construction and a combination of central air and ductless cooling systems.
Where is this multifamily property located?
The property is located at 3235 EMERSON AVENUE S St Petersburg, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Multifamily property at 3235 Emerson Avenue S, St. Petersburg, FL 33712; Built in 1960; Attached construction
