Triplex with Private
For Sale
$1,100,000
540 11TH Avenue N, St Petersburg, FL 33701
Residential Income, ST PETERSBURG, FL
Property Size3,077 SF
Lot Size0.11 Acres
Price / SF$357.49
Days on Market72
Property Features for 540 11TH Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 7, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 2
Interior features
Built-in Features
Exterior features
Courtyard
Fireplace
1
Subdivision
AVOCADO SUB
Directions
Head East on 9th Avenue N. Then head North on 6th Street N. Then head East on 11th Avenue N. The property will be located on your right.
Standard status
Active
APN
18-31-17-01872-000-0140
Size
3,077 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
AVOCADO SUB LOT 14
Tax Annual Amount
16181
Legal Description
AVOCADO SUB LOT 14
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Wall/Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1925
Number of units
3
Building materials
Frame
Roof type
Shingle
Listing Agency:
PLATINUM REAL ESTATE
(888) 974-7253
Listed By:
Mark Zervos · License #2014001304
(239) 264-1100
Added: Jul 6
Changed: Sep 12
Last Checked: Sep 15 at 12:06AM
MLS# TB8524935
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 3,077-square-foot triplex consists of a detached front residence and a neighboring duplex on a 0.11-acre lot. The primary home includes three bedrooms, 1.5 baths, living and dining areas, a covered porch, rear patio access, and a detached one-car garage. The duplex adds an upper residence with flexible two- to three-bedroom use, separate living and dining rooms, updated kitchen and bath finishes, and in-unit laundry, along with a lower two-bedroom residence featuring an enclosed front porch suitable for additional living or work space.
Built in 1925, the property retains original wood flooring, period doors and hardware, built-in features, and a private courtyard. The structures are frame construction with shingle roofing, central heating, public water, and public sewer. Roof updates have been completed, and tenant occupancy is in place. The property is located at 540 11th Avenue N, with the duplex at 532 and 534 11th Avenue N in St. Petersburg’s Historic Uptown area, north of downtown and near restaurants, parks, and waterfront amenities.
Built in 1925, the property retains original wood flooring, period doors and hardware, built-in features, and a private courtyard. The structures are frame construction with shingle roofing, central heating, public water, and public sewer. Roof updates have been completed, and tenant occupancy is in place. The property is located at 540 11th Avenue N, with the duplex at 532 and 534 11th Avenue N in St. Petersburg’s Historic Uptown area, north of downtown and near restaurants, parks, and waterfront amenities.
Key Highlights
- Three‑unit multifamily property totaling 3,077 square feet
- 0.11‑acre lot with a private courtyard and covered porch areas
- Front residence offers 3 bedrooms, 1.5 baths, and a detached one‑car garage
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
$35,916
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
3.27%
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%
$718,320
$718.3K
Cap Rate 7%
$513,086
$513.1K
Cap Rate 9%
$399,067
$399.1K
Market Conditions
NOI Build-Up for 3,077 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
$55.0K $17.88/SF
− Vacancy
−$3.7K −$1.21/SF
EGI
$51.3K $16.67/SF
− OpEx
−$15.4K −$5.00/SF
NOI
$35.9K $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%
$718,320
Cap Rate 7%
$513,086
Cap Rate 9%
$399,067
Alternative Uses
Best Use
Multifamily LT 5
$513.1K
$449.0K – $598.6K
NOI $35,916 @ 7.0% cap · market cap 3.27%
Second Best
Apartment 5plus
$404.3K
$353.7K – $471.7K
NOI $28,299 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$800.4K
$700.3K – $933.8K
NOI $56,025 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,719
Businesses Nearby
Explore this area
Business Placement
Demographics for 33701, FL
19,137
Population
13,434
Households
1.4
Avg Household Size
48
Median Age
55%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
7,088
Density / Sq Mi
$69,098
Median Household Income
$48,072
Median Earnings
$1,531
Median Rent
$590,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residences combine period details, flexible layouts, covered outdoor areas, and tenant occupancy in a compact multifamily property.
Where is this triplex located?
The property is located at 540 11TH Avenue N St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three‑unit multifamily property totaling 3,077 square feet; 0.11‑acre lot with a private courtyard and covered porch areas; Front residence offers 3 bedrooms, 1.5 baths, and a detached one‑car garage
