Four-Unit Quadplex With C-3
For Sale
$1,350,000
37 144TH AVENUE, Madeira Beach, FL 33708
Configured for multifamily, vacation rental, and temporary lodging uses, with private storage and laundry facilities on site.
Property Size3,380 SF
Days on Market15
Property Features for 37 144TH AVENUE
General Information
Standard status
Active
Size
3,380 SF
Property subtype
Residential Income
Zoning
C-3
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA, 1 x Studio/1BA
Multifamily Units
4
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,562
Amenities
onsite laundry
dedicated storage
Building Details
Building Size
3,380 SF
Year Built
1952
Units
4
Listing Agency:
RE/MAX REALTY UNLIMITED
(941) 504-5778
Listed By:
Scott Scheibner
(941) 504-5778
Source:
Mbifloridarealty
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 11:28AM
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 RE/MAX REALTY UNLIMITED
Investment Insights
Based on property information with market context.
Located at 37 144TH AVENUE in Madeira Beach, this four-unit quadplex combines a varied unit mix with C-3 Retail Commercial zoning. The property includes a 3BR/2BA suite, 2BR/1BA unit, 1BR/1BA unit, and studio with 1BA. Each unit has dedicated storage, and the property includes onsite laundry facilities.
The building was constructed in 1952 and restored following the 2024 storms, with permits, inspections, and sign-offs completed through the City of Madeira Beach. Gulf Boulevard and public beach access are directly across from the property. John's Pass Village & Boardwalk is approximately 1.5 miles away, while downtown St. Petersburg is approximately 11 miles away. The source identifies multifamily residential, vacation rental, and temporary lodging uses as permitted under the C-3 zoning designation.
The building was constructed in 1952 and restored following the 2024 storms, with permits, inspections, and sign-offs completed through the City of Madeira Beach. Gulf Boulevard and public beach access are directly across from the property. John's Pass Village & Boardwalk is approximately 1.5 miles away, while downtown St. Petersburg is approximately 11 miles away. The source identifies multifamily residential, vacation rental, and temporary lodging uses as permitted under the C-3 zoning designation.
Key Highlights
- Four‑unit property with 3BR/2BA, 2BR/1BA, 1BR/1BA, and Studio/1BA units
- C‑3 zoning with multifamily residential, vacation rental, and temporary lodging uses identified as permitted
- Restored after the 2024 storms with City permits, inspections, and sign‑offs completed
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
$39,453
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
2.92%
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%
$789,060
$789.1K
Cap Rate 7%
$563,614
$563.6K
Cap Rate 9%
$438,367
$438.4K
Market Conditions
NOI Build-Up for 3,380 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
$60.4K $17.88/SF
− Vacancy
−$4.1K −$1.21/SF
EGI
$56.4K $16.67/SF
− OpEx
−$16.9K −$5.00/SF
NOI
$39.5K $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%
$789,060
Cap Rate 7%
$563,614
Cap Rate 9%
$438,367
Alternative Uses
Best Use
Multifamily LT 5
$563.6K
$493.2K – $657.6K
NOI $39,453 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$444.1K
$388.6K – $518.1K
NOI $31,086 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$879.2K
$769.3K – $1.03M
NOI $61,542 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Explore this area
Business Placement
Demographics for 33708, FL
16,034
Population
13,211
Households
1.2
Avg Household Size
60
Median Age
44%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
4,716
Density / Sq Mi
$83,773
Median Household Income
$49,403
Median Earnings
$1,961
Median Rent
$463,700
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?
Quadplex - Configured for multifamily, vacation rental, and temporary lodging uses, with private storage and laundry facilities on site.
Where is this quadplex located?
The property is located at 37 144TH AVENUE Madeira Beach, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Four‑unit property with 3BR/2BA, 2BR/1BA, 1BR/1BA, and Studio/1BA units; C‑3 zoning with multifamily residential, vacation rental, and temporary lodging uses identified as permitted; Restored after the 2024 storms with City permits, inspections, and sign‑offs completed
