Restored Four-Unit
For Sale
$1,350,000
37 144TH Avenue, Madeira Beach, FL 33708
Residential Income, MADEIRA BEACH, FL
Property Size3,380 SF
Lot Size0.11 Acres
Price / SF$399.41
Days on Market11
Property Features for 37 144TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bathroom 2, Laundry Room, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 5, Bathroom 5
Parking features
Off Street, Assigned
Patio and Porch features
Porch, Deck, Patio
Pets allowed
Yes
Exterior features
Balcony, Fence, Private Mailbox, Storage
Fencing
Fenced
Appliances
Built-In Oven, Dishwasher, Disposal, Electric Water Heater, Microwave, Refrigerator
Subdivision
MADEIRA SHORES SUB
Lot features
Flood Zone, City Limits, Near Public Transit, Paved
View
Ocean, Water
Directions
Turn East: Head onto 144th Avenue from Gulf Boulevard (away from the beach side).Proceed Straight: Drive past the corner commercial building. Arrive: The 4-unit apartment property is the second building on the north (left) side of the street.
Standard status
Active
APN
09-31-15-54306-000-0520
Size
3,380 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MADEIRA SHORES SUB LOT 52
Tax Annual Amount
8563
Legal Description
MADEIRA SHORES SUB LOT 52
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air
Water source
Public
Amenities
onsite laundry
dedicated storage
Building Details
Year built
1952
Number of units
4
Flooring type
Tile, Laminate
Building materials
Block, Stucco
Roof type
Membrane
Additional Structures
Storage
Listing Agency:
RE/MAX REALTY UNLIMITED · RE/MAX International
(727) 280-9996
Listed By:
Scott Scheibner
(941) 504-5778
Added: Aug 17
Changed: Aug 26
Last Checked: Aug 27 at 7:06PM
MLS# TB8531797
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 3,380-square-foot quadplex contains four distinct residences: a three-bedroom, two-bath suite, a two-bedroom, one-bath unit, a one-bedroom, one-bath unit, and a studio with one bath. The property includes onsite laundry, assigned off-street parking, and dedicated storage for each residence. Balconies, porches, decks, patios, and fencing add to the physical improvements. Construction includes block and stucco, with tile and laminate flooring, public water, and public sewer.
Zoned C-3, the property supports multifamily residential, vacation rental, and temporary lodging uses, including nightly rentals. It sits across Gulf Boulevard from public beach access and approximately 1.5 miles from John's Pass Village & Boardwalk. Downtown St. Petersburg is approximately 11 miles away. Restoration and storm remediation were completed after the 2024 storms, with city permits, inspections, and sign-offs completed.
Zoned C-3, the property supports multifamily residential, vacation rental, and temporary lodging uses, including nightly rentals. It sits across Gulf Boulevard from public beach access and approximately 1.5 miles from John's Pass Village & Boardwalk. Downtown St. Petersburg is approximately 11 miles away. Restoration and storm remediation were completed after the 2024 storms, with city permits, inspections, and sign-offs completed.
Key Highlights
- 3,380‑square‑foot quadplex with four residences
- Unit mix includes 3BR/2BA, 2BR/1BA, 1BR/1BA, and Studio/1BA
- C‑3 zoning identifies multifamily, 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
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
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, vacation rental, and temporary lodging uses near public Gulf beach access.
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: 3,380‑square‑foot quadplex with four residences; Unit mix includes 3BR/2BA, 2BR/1BA, 1BR/1BA, and Studio/1BA; C‑3 zoning identifies multifamily, vacation rental, and temporary lodging uses
