Single-Story Apartment
For Sale
$1,495,000
500 75TH Avenue N, St Petersburg, FL 33702
Commercial Sale, ST PETERSBURG, FL
Property Size6,208 SF
Lot Size0.34 Acres
Price / SF$240.82
Days on Market29
Property Features for 500 75TH Avenue N
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Microwave, Refrigerator
Subdivision
MULLERS SUB ADD
Lot features
Corner Lot, Flood Zone, City Limits, Landscaped, Street Lights
Directions
From St. Pete-Clearwater International Airport (PIE), exit the airport and head south on Roosevelt Boulevard (FL-686 E). Merge onto I-275 South toward St. Petersburg. Take Exit 26A for 54th Avenue North, then turn left (east) onto 54th Avenue N. Continue to 4th Street North (US-92) and turn left (north). Turn right onto 75th Avenue North, then turn left onto 5th Street North. The property at 500 75th Ave N, St. Petersburg, FL 33702 will be on your left.
Standard status
Active
APN
30-30-17-59418-000-0190
Size
6,208 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
MULLER'S SUB ADD LOTS 19 AND 20
Tax Annual Amount
15710
Legal Description
MULLER'S SUB ADD LOTS 19 AND 20
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
shared laundry room
private patio
Building Details
Year built
1973
Floors in Building
1
Number of units
10
Flooring type
Tile - Ceramic, Vinyl, Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
COMPASS FLORIDA LLC
(727) 380-2067
Listed By:
Kim Meredith-Hampton · License #261015298
(407) 448-6679
Added: Jul 27
Changed: Aug 24
Last Checked: Aug 24 at 9:06PM
MLS# TB8532694
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 10-unit apartment property includes three single-story concrete block buildings totaling 6,208 square feet on 0.34 acres. Each residence is approximately 600 SF with one bedroom and one bathroom, along with a living area, eat-in kitchen, shaker cabinetry, granite countertops, breakfast bar, walk-in closet, and private patio. Ceramic tile and vinyl flooring, central heating and central air, refrigerators, and microwaves are provided. A shared laundry room serves the community, while the shingle roof and public sewer support the existing improvements.
The property is located in St. Petersburg’s Fossil Park area near Downtown St. Pete, I-275, and the 4th Street corridor. Tenants pay electric and water/sewer through billing back; ownership covers trash, lawn, and pest service. The apartments are fully occupied.
The property is located in St. Petersburg’s Fossil Park area near Downtown St. Pete, I-275, and the 4th Street corridor. Tenants pay electric and water/sewer through billing back; ownership covers trash, lawn, and pest service. The apartments are fully occupied.
Key Highlights
- 10 one‑bedroom, one‑bathroom apartments at approximately 600 SF each
- Three concrete block buildings with 6,208 SF of total property size
- 0.34 acres in St. Petersburg’s Fossil Park area
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
$57,096
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
3.82%
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%
$1,141,920
$1.1M
Cap Rate 7%
$815,657
$815.7K
Cap Rate 9%
$634,400
$634.4K
Market Conditions
NOI Build-Up for 6,208 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
$111.7K $18.00/SF
− Vacancy
−$7.9K −$1.28/SF
EGI
$103.8K $16.72/SF
− OpEx
−$46.7K −$7.52/SF
NOI
$57.1K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,141,920
Cap Rate 7%
$815,657
Cap Rate 9%
$634,400
Alternative Uses
Best Use
Apartment 5plus
$815.7K
$713.7K – $951.6K
NOI $57,096 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $113,032 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,598
Businesses Nearby
Explore this area
Business Placement
Demographics for 33702, FL
29,996
Population
16,240
Households
1.8
Avg Household Size
44
Median Age
38%
College-Educated
91%
High-School Grad
10.4 sq mi
ZIP Area
2,884
Density / Sq Mi
$65,503
Median Household Income
$43,860
Median Earnings
$1,369
Median Rent
$293,700
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?
Apartment building - Ten one-bedroom apartments across three concrete block buildings with shared laundry and private patio spaces.
Where is this apartment building located?
The property is located at 500 75TH Avenue N St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 10 one‑bedroom, one‑bathroom apartments at approximately 600 SF each; Three concrete block buildings with 6,208 SF of total property size; 0.34 acres in St. Petersburg’s Fossil Park area
