Quadplex with Onsite
New
For Sale
$1,350,000
37 144th Ave, Madeira Beach, FL 33708
C-3 zoning supports multifamily residential, vacation rental, and temporary lodging uses.
Property Size3,380 SF
Price / SF$399.41
Days on Market2
Property Features for 37 144th Ave
General Information
Standard status
Active
Size
3,380 SF
Property subtype
Multi-Family
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
Amenities
onsite laundry
dedicated storage space
Building Details
Year Built
1952
Listing Agency:
RE/MAX REALTY UNLIMITED
Listed By:
Scott Scheibner
(941) 504-5778
Source:
Flflourish
Added: Sep 21
Last Checked: Sep 21 at 2:44PM
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.
This 3,380-square-foot quadplex, built in 1952, contains four distinct units: a 3BR/2BA suite, 2BR/1BA unit, 1BR/1BA unit, and studio with 1BA. Onsite laundry and assigned storage areas serve the property. Restoration and remediation following the 2024 storms were completed with City of Madeira Beach permits, inspections, and sign-offs.
The property sits directly across Gulf Boulevard from public beach access. John’s Pass Village & Boardwalk is approximately 1.5 miles away, with waterfront dining, shopping, fishing charters, dolphin cruises, boating, and entertainment. Downtown St. Petersburg is approximately 11 miles away and offers restaurants, museums, galleries, waterfront parks, nightlife, and the St. Pete Pier.
C-3 zoning identifies multifamily residential, vacation rental, and temporary lodging uses as permitted uses, including potential nightly or short-term rentals.
The property sits directly across Gulf Boulevard from public beach access. John’s Pass Village & Boardwalk is approximately 1.5 miles away, with waterfront dining, shopping, fishing charters, dolphin cruises, boating, and entertainment. Downtown St. Petersburg is approximately 11 miles away and offers restaurants, museums, galleries, waterfront parks, nightlife, and the St. Pete Pier.
C-3 zoning identifies multifamily residential, vacation rental, and temporary lodging uses as permitted uses, including potential nightly or short-term rentals.
Key Highlights
- Four‑unit configuration with 3BR/2BA, 2BR/1BA, 1BR/1BA, and Studio/1BA units
- 3,380 SF quadplex built in 1952
- C‑3 zoning permits multifamily residential, vacation rental, and temporary lodging uses
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - C-3 zoning supports multifamily residential, vacation rental, and temporary lodging uses.
Where is this quadplex located?
The property is located at 37 144th Ave 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 configuration with 3BR/2BA, 2BR/1BA, 1BR/1BA, and Studio/1BA units; 3,380 SF quadplex built in 1952; C‑3 zoning permits multifamily residential, vacation rental, and temporary lodging uses
