Renovated Duplex with
For Sale
$474,900
4536 1st Ave N, St Petersburg, FL 33713
Updated duplex with a separate-entry accessory dwelling unit, fenced outdoor space, parking, and CRT-1 zoning.
Property Size1,261 SF
Price / SF$376.61
Days on Market47
Property Features for 4536 1st Ave N
General Information
Standard status
Active
Size
1,261 SF
Zoning
CRT-1
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
covered front porch
Florida room
patio
lanai
fenced backyard
designer tile
fully appointed kitchen
beautiful flooring
recessed lighting
ceiling fans
Building Details
Year Built
1931
Buildings
2
Construction
Craftsman
Listing Agency:
INVESTY REALTY, LLC.
(305) 204-6279
Listed By:
Amy Stanley · License #3430835
Source:
Fulcrum-residential
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 30 at 7:57PM
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 INVESTY REALTY, LLC.
Investment Insights
Based on property information with market context.
This renovated duplex property includes a 1,261-square-foot main residence and a detached accessory dwelling unit with its own entrance. The 1931 home has a new roof, designer tile, updated flooring, recessed lighting, ceiling fans, and a furnished kitchen. Outdoor features include a covered front porch, Florida room, two patios, a lanai, and a fenced backyard with alley access and rear gate entry.
The property is zoned CRT-1 Activity Center, supporting multifamily, office, and mixed-use applications. A driveway, parking lot, and multiple-car parking areas are present, while the oversized lot provides room for future expansion. The site is positioned in Oak Park between St. Pete Beach and downtown St. Petersburg, approximately 10 minutes from the Gulf and St. Pete Pier/Bay and 20 minutes from Tampa International Airport. The property is outside the flood zone and has no HOA.
The property is zoned CRT-1 Activity Center, supporting multifamily, office, and mixed-use applications. A driveway, parking lot, and multiple-car parking areas are present, while the oversized lot provides room for future expansion. The site is positioned in Oak Park between St. Pete Beach and downtown St. Petersburg, approximately 10 minutes from the Gulf and St. Pete Pier/Bay and 20 minutes from Tampa International Airport. The property is outside the flood zone and has no HOA.
Key Highlights
- 1,261 SF renovated home plus detached ADU with separate entrance
- CRT‑1 zoning allows multifamily, office, and mixed‑use applications
- New roof and completed 4 point inspection
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
$14,719
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
3.10%
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%
$294,380
$294.4K
Cap Rate 7%
$210,271
$210.3K
Cap Rate 9%
$163,544
$163.5K
Market Conditions
NOI Build-Up for 1,261 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
$22.5K $17.88/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$21.0K $16.67/SF
− OpEx
−$6.3K −$5.00/SF
NOI
$14.7K $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%
$294,380
Cap Rate 7%
$210,271
Cap Rate 9%
$163,544
Alternative Uses
Best Use
Multifamily LT 5
$210.3K
$184.0K – $245.3K
NOI $14,719 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$165.7K
$145.0K – $193.3K
NOI $11,598 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$328.0K
$287.0K – $382.7K
NOI $22,960 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,199
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?
Duplex - Updated duplex with a separate-entry accessory dwelling unit, fenced outdoor space, parking, and CRT-1 zoning.
Where is this duplex located?
The property is located at 4536 1st Ave N St Petersburg, FL.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: 1,261 SF renovated home plus detached ADU with separate entrance; CRT‑1 zoning allows multifamily, office, and mixed‑use applications; New roof and completed 4 point inspection
