Updated
For Sale
$449,995
522 FLORIDA AVE, Clearwater, FL 33756
Two-unit residential property with refreshed interiors, separate utilities, and flexible month-to-month leasing.
Property Size1,663 SF
Days on Market8
Property Features for 522 FLORIDA AVE
General Information
Standard status
Active
Size
1,663 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,907
Building Details
Building Size
1,663 SF
Year Built
1957
Listing Agency:
HOMECOIN.COM
(888) 400-2513
Listed By:
Jonathan Minerick · License #10311209448
Source:
Judibeck
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 9:19PM
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 HOMECOIN.COM
Investment Insights
Based on property information with market context.
Built in 1957, this duplex has updated kitchens and bathrooms with stone countertops, contemporary cabinetry, modern appliances, and ceramic tile flooring throughout. One residence includes a one-bedroom, one-bath layout plus an enclosed bonus room that can serve as office, dining, hobby, or storage space. A full pantry adds practical kitchen storage, while a recently installed water heater and newer breaker boxes support the property’s updated systems.
The units are leased on a month-to-month basis, and water and power are separately metered and paid by tenants. The property is located on Florida Avenue in Clearwater, a short drive from Clearwater Beach. The surrounding residential street includes established homes with maintained lawns and a recently built residence.
The units are leased on a month-to-month basis, and water and power are separately metered and paid by tenants. The property is located on Florida Avenue in Clearwater, a short drive from Clearwater Beach. The surrounding residential street includes established homes with maintained lawns and a recently built residence.
Key Highlights
- Updated kitchens and bathrooms with stone countertops and modern cabinetry
- One unit includes a 1‑bedroom, 1‑bath layout plus an enclosed bonus room
- Ceramic tile flooring installed throughout all units
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
$22,938
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
5.10%
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%
$458,760
$458.8K
Cap Rate 7%
$327,686
$327.7K
Cap Rate 9%
$254,867
$254.9K
Market Conditions
NOI Build-Up for 1,663 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
$34.9K $21.00/SF
− Vacancy
−$2.2K −$1.30/SF
EGI
$32.8K $19.70/SF
− OpEx
−$9.8K −$5.91/SF
NOI
$22.9K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /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%
$458,760
Cap Rate 7%
$327,686
Cap Rate 9%
$254,867
Alternative Uses
Best Use
Multifamily LT 5
$327.7K
$286.7K – $382.3K
NOI $22,938 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$293.2K
$256.6K – $342.1K
NOI $20,525 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$466.6K
$408.3K – $544.3K
NOI $32,660 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
865
Businesses Nearby
Explore this area
Business Placement
Demographics for 33756, FL
31,807
Population
15,474
Households
2.1
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
7.2 sq mi
ZIP Area
4,418
Density / Sq Mi
$63,990
Median Household Income
$38,563
Median Earnings
$1,382
Median Rent
$335,800
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?
Duplex - Two-unit residential property with refreshed interiors, separate utilities, and flexible month-to-month leasing.
Where is this duplex located?
The property is located at 522 FLORIDA AVE Clearwater, FL.
What is the asking price?
The asking price for this property is $449,995.
What are key features of this property?
This property features: Updated kitchens and bathrooms with stone countertops and modern cabinetry; One unit includes a 1‑bedroom, 1‑bath layout plus an enclosed bonus room; Ceramic tile flooring installed throughout all units
