Downtown Duplex With Updated
New
For Sale
$685,000
332 ACROPOLIS Drive, Dunedin, FL 34698
Residential Income, DUNEDIN, FL
Property Size1,990 SF
Lot Size0.17 Acres
Price / SF$344.22
Days on Market4
Property Features for 332 ACROPOLIS Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 5
Interior features
Ceiling Fans(s)
Exterior features
Sidewalk
Directions
Main St(580), S on Patricia, W on Beltrees, Left on Acropolis to Address.
Subdivision
34698 - Dunedin
Standard status
Active
APN
34-28-15-00000-410-0900
Size
1,990 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 115FT OF E 230FT OF S 75 FT OF N 321FT NE 1/4 OF SE 1/4 OF SEC 34-28-15 LESS E 15FT THEREOF FOR ACROPOLIS DR R/W
Tax Annual Amount
10561
Legal Description
W 115FT OF E 230FT OF S 75 FT OF N 321FT NE 1/4 OF SE 1/4 OF SEC 34-28-15 LESS E 15FT THEREOF FOR ACROPOLIS DR R/W
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1972
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Nina Ibrahimbegovic · License #3303852
(727) 810-7222
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 21 at 8:06AM
MLS# TB8549580
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 1,990-square-foot duplex contains two rental units: one with 3 bedrooms and 2 baths, and a second with 2 bedrooms, 1 bath, and a bonus room. Both residences include updated kitchens, in-unit laundry, and brand-new AC systems. The building was constructed in 1972 with block and stucco construction, a shingle roof, central heating, and ceiling fans.
The property occupies 0.17 acres at 332 Acropolis Drive in Dunedin, Florida, near downtown Dunedin, the Pinellas Trail, and Gulf beaches. Public water and public sewer serve the property, while a sidewalk provides pedestrian access along the site.
The property occupies 0.17 acres at 332 Acropolis Drive in Dunedin, Florida, near downtown Dunedin, the Pinellas Trail, and Gulf beaches. Public water and public sewer serve the property, while a sidewalk provides pedestrian access along the site.
Key Highlights
- Two‑unit duplex with 3‑bedroom/2‑bath and 2‑bedroom/1‑bath layouts
- 1,990 square feet on a 0.17‑acre parcel
- Both units feature updated kitchens and in‑unit laundry
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
$23,228
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
3.39%
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%
$464,560
$464.6K
Cap Rate 7%
$331,829
$331.8K
Cap Rate 9%
$258,089
$258.1K
Market Conditions
NOI Build-Up for 1,990 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
$35.6K $17.88/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$33.2K $16.67/SF
− OpEx
−$10.0K −$5.00/SF
NOI
$23.2K $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%
$464,560
Cap Rate 7%
$331,829
Cap Rate 9%
$258,089
Alternative Uses
Best Use
Multifamily LT 5
$331.8K
$290.4K – $387.1K
NOI $23,228 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$261.5K
$228.8K – $305.0K
NOI $18,302 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$517.6K
$452.9K – $603.9K
NOI $36,233 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 34698, FL
38,010
Population
22,016
Households
1.7
Avg Household Size
56
Median Age
36%
College-Educated
95%
High-School Grad
11.2 sq mi
ZIP Area
3,394
Density / Sq Mi
$67,323
Median Household Income
$44,747
Median Earnings
$1,571
Median Rent
$335,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two separately configured rental units offer updated kitchens, in-unit laundry, and central air conditioning.
Where is this duplex located?
The property is located at 332 ACROPOLIS Drive Dunedin, FL.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom/2‑bath and 2‑bedroom/1‑bath layouts; 1,990 square feet on a 0.17‑acre parcel; Both units feature updated kitchens and in‑unit laundry
