Mixed-Use Building with
For Sale
$1,800,000
5437 29th Avenue S GULFPORT, Saint Petersburg, FL 33707
Mixed-use building featuring four workshop/studios and two 1-bedroom apartments, offering flexible commercial and residential use.
Property Size5,252 SF
Price / SF$342.73
Days on Market47
Property Features for 5437 29th Avenue S GULFPORT
General Information
Standard status
Active
Size
5,252 SF
Zoning
MIXED USE
Units
Multifamily Units
2
Office Units
4
Taxes and HOA fees
Annual Taxes
$8,323
Amenities
1
true
Central Business District
9805
70 x 140
0.23
false
Asphalt
Slab
Alley,Business District,City Street
5252
Public Maintained Road
Building Details
Building Size
5,252 SF
Year Built
1940
Buildings
1
Stories
1
Listing Agency:
(904) 569-5862
Listed By:
Crystal Barling
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 7
Changed: Aug 20
Last Checked: Aug 22 at 3:41AM
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 Crystal Barling
Investment Insights
Based on property information with market context.
This commercial, mixed-use building includes two one-bedroom, one-bath apartments and four individual workshop/studios. The property is designed to support both commercial and residential use under one roof, with separate studio/workshop spaces alongside the apartment units.
The building is positioned in Gulfport’s Art District area, near the waterfront and within close proximity to the Gulfport beach and pier. Public remarks indicate the property has never flooded, and it sits among businesses such as bars, restaurants, shops, and boutiques.
For tenants, buyers, or operators seeking a multi-use setup, the combination of apartment living with standalone workshop/studio space can support a variety of occupancy strategies. The presence of multiple independent studio/workshop units may be well-suited for creative, service, or light commercial uses, while the two apartments provide residential capacity within the same property.
The building is positioned in Gulfport’s Art District area, near the waterfront and within close proximity to the Gulfport beach and pier. Public remarks indicate the property has never flooded, and it sits among businesses such as bars, restaurants, shops, and boutiques.
For tenants, buyers, or operators seeking a multi-use setup, the combination of apartment living with standalone workshop/studio space can support a variety of occupancy strategies. The presence of multiple independent studio/workshop units may be well-suited for creative, service, or light commercial uses, while the two apartments provide residential capacity within the same property.
Key Highlights
- Mixed‑use building with 4 workshop/studios and 2 one‑bedroom, one‑bath apartments
- Total building area 5,252 sq ft on a 0.23‑acre lot (70 x 140) with asphalt road frontage
- Lot features include Central Business District; road frontage includes alley, business district, and city street
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
$81,544
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
4.53%
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%
$1,630,880
$1.6M
Cap Rate 7%
$1,164,914
$1.2M
Cap Rate 9%
$906,044
$906.0K
Market Conditions
NOI Build-Up for 5,252 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
$136.8K $26.04/SF
− Vacancy
−$28.0K −$5.34/SF
EGI
$108.7K $20.70/SF
− OpEx
−$27.2K −$5.18/SF
NOI
$81.5K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,630,880
Cap Rate 7%
$1,164,914
Cap Rate 9%
$906,044
Alternative Uses
Best Use
Office B
$1.16M
$1.02M – $1.36M
NOI $81,544 @ 7.0% cap · market cap 4.53%
Second Best
Mixed Use
$931.9K
$815.4K – $1.09M
NOI $65,230 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.37M
$1.20M – $1.59M
NOI $95,626 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
2
Residential units
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Explore this area
Business Placement
Demographics for 33707, FL
24,646
Population
16,579
Households
1.5
Avg Household Size
58
Median Age
40%
College-Educated
95%
High-School Grad
5.3 sq mi
ZIP Area
4,650
Density / Sq Mi
$68,560
Median Household Income
$45,513
Median Earnings
$1,512
Median Rent
$344,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Mixed-use building featuring four workshop/studios and two 1-bedroom apartments, offering flexible commercial and residential use.
Where is this duplex located?
The property is located at 5437 29th Avenue S GULFPORT Saint Petersburg, FL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Mixed‑use building with 4 workshop/studios and 2 one‑bedroom, one‑bath apartments; Total building area 5,252 sq ft on a 0.23‑acre lot (70 x 140) with asphalt road frontage; Lot features include Central Business District; road frontage includes alley, business district, and city street
