St. Pete Triplex: Income
For Sale
$780,000
Pending
3320 18th Street North, St Petersburg, FL 33713
Updated triplex in St. Pete with income-producing potential.
Property Size2,146 SF
Days on Market412
Property Features for 3320 18th Street North
General Information
Standard status
Pending
Size
2,146 SF
Property subtype
Residential Income / Triplex
Taxes and HOA fees
Annual Taxes
$8,392
Amenities
Central Air, Wall/Window Unit(s)
Central
No
5
Common Area
Ceiling Fan(s), Open Floorplan
Square Feet
Public Records
Shingle
Fenced, Lighting
Pillar/Post/Pier, Slab
Wood Frame
Building Details
Year Built
1925
Listing Agency:
MADISON HEIGHTS REALTY GROUP
(813) 601-7769
Listed By:
Nicole Smith · License #3490997
(813) 601-7769
Source:
Compass
Added: Jul 10, 2025
Changed: Aug 23
Last Checked: Aug 24 at 12:15PM
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 MADISON HEIGHTS REALTY GROUP
Investment Insights
Based on property information with market context.
This updated triplex is located in St. Petersburg and features three separate units, each with its own private fenced backyard, dedicated parking, and extra storage space. The property includes an additional fenced lot that provides space for RV or boat parking, extra storage, or future expansion. Unit 3314 is a fully updated one-bedroom, one-bathroom unit with an indoor laundry room, luxury vinyl flooring, a private backyard with a wood patio and pergola, granite countertops, shaker cabinetry, new appliances, a luxury bath and shower surround, new vanity, impact-rated windows, updated lighting, ceiling fans, and a fresh exterior cement apron. Unit 3312 is a renovated two-story, two-bedroom, one-bathroom unit with private alley access, two bonus or storage rooms, an updated kitchen and bathroom, granite countertops, a new range and microwave, SmartCore vinyl flooring, hurricane shutters, and an artificial turf backyard. Unit 3320 mirrors the layout of 3312 and includes two storage rooms on the first floor and a second-level living space, landscaping, hardscaping, and artificial turf in the fenced backyard. All units have new AC units. The property is located minutes from Downtown St. Pete, restaurants, museums, St. Pete/Clearwater Airport, and the beach. It is suitable for owner-occupants, long-term tenants, or short-term rental income.
Key Highlights
- Income‑producing triplex in a desirable St. Pete location, ideal for owner‑occupants or investors.
- Each unit has a private fenced backyard, dedicated parking, and extra storage.
- Located in a no flood zone with no prior flooding or water damage.
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
$25,049
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
3.21%
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%
$500,980
$501.0K
Cap Rate 7%
$357,843
$357.8K
Cap Rate 9%
$278,322
$278.3K
Market Conditions
NOI Build-Up for 2,146 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
$38.4K $17.88/SF
− Vacancy
−$2.6K −$1.21/SF
EGI
$35.8K $16.67/SF
− OpEx
−$10.7K −$5.00/SF
NOI
$25.0K $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%
$500,980
Cap Rate 7%
$357,843
Cap Rate 9%
$278,322
Alternative Uses
Best Use
Multifamily LT 5
$357.8K
$313.1K – $417.5K
NOI $25,049 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$282.0K
$246.7K – $329.0K
NOI $19,737 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$558.2K
$488.4K – $651.2K
NOI $39,073 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
Explore this area
Business Placement
Demographics for 33713, FL
31,321
Population
16,192
Households
1.9
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
6.5 sq mi
ZIP Area
4,819
Density / Sq Mi
$69,704
Median Household Income
$43,282
Median Earnings
$1,387
Median Rent
$279,000
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 - Updated triplex in St. Pete with income-producing potential.
Where is this triplex located?
The property is located at 3320 18th Street North St Petersburg, FL.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Income‑producing triplex in a desirable St. Pete location, ideal for owner‑occupants or investors.; Each unit has a private fenced backyard, dedicated parking, and extra storage.; Located in a no flood zone with no prior flooding or water damage.
