Single-Story
For Sale
$899,900
544 93rd Ave N, St Petersburg, FL 33702
Four-unit garden-style property with recent exterior upgrades, individual electrical meters, tenant storage, laundry, and rear parking.
Property Size3,097 SF
Lot Size0.28 Acres
Price / SF$290.57
Days on Market43
Property Features for 544 93rd Ave N
General Information
Standard status
Active
Size
3,097 SF
Lot size
0.28 Acres
Property subtype
Multi-Family
Occupancy
75%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Amenities
storage room
coin-operated laundry room
parking pad with carport
landscaping
artificial turf
irrigation system
Building Details
Year Built
1979
Buildings
2
Stories
1
Construction
garden-style
Listing Agency:
KELLER WILLIAMS ST PETE REALTY
(727) 742-0261
Listed By:
Zach Zehnder · License #3237387
Source:
Fulcrum-residential
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 30 at 7:36PM
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 KELLER WILLIAMS ST PETE REALTY
Investment Insights
Based on property information with market context.
This 3,097-square-foot quadplex comprises two concrete block duplexes on two lots totaling 0.28 acres. The eastern building contains two 2-bedroom, 1-bath residences of approximately 904 living square feet each, while the western building includes two 1-bedroom, 1-bath residences of approximately 644 living square feet each. Porches serve the units, and three residences are tenant-occupied.
Recent capital work includes hurricane impact-rated windows and doors throughout, plus roofs and gutters completed in June 2024. The grounds include landscaping, artificial turf, and irrigation. Property amenities include a large storage room, a separate coin-operated laundry room with tenant cabinets, and rear parking with a carport accessed from the alley. Each unit has its own electrical meter; the eastern duplex has separate water, sewer, and trash accounts by unit, while the western duplex shares one account. The property is located at 544 93rd Ave N in St Petersburg, with access to I-275, Tampa, and Downtown St. Pete.
Recent capital work includes hurricane impact-rated windows and doors throughout, plus roofs and gutters completed in June 2024. The grounds include landscaping, artificial turf, and irrigation. Property amenities include a large storage room, a separate coin-operated laundry room with tenant cabinets, and rear parking with a carport accessed from the alley. Each unit has its own electrical meter; the eastern duplex has separate water, sewer, and trash accounts by unit, while the western duplex shares one account. The property is located at 544 93rd Ave N in St Petersburg, with access to I-275, Tampa, and Downtown St. Pete.
Key Highlights
- Four units across two concrete block duplexes; three units are tenant‑occupied
- Two 2‑bedroom units at approximately 904 living square feet each and two 1‑bedroom units at approximately 644 living square feet each
- Two lots totaling 0.28 acres with a 3,097‑square‑foot property
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
$36,149
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
4.02%
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%
$722,980
$723.0K
Cap Rate 7%
$516,414
$516.4K
Cap Rate 9%
$401,656
$401.7K
Market Conditions
NOI Build-Up for 3,097 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
$55.4K $17.88/SF
− Vacancy
−$3.7K −$1.21/SF
EGI
$51.6K $16.67/SF
− OpEx
−$15.5K −$5.00/SF
NOI
$36.1K $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%
$722,980
Cap Rate 7%
$516,414
Cap Rate 9%
$401,656
Alternative Uses
Best Use
Multifamily LT 5
$516.4K
$451.9K – $602.5K
NOI $36,149 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$406.9K
$356.0K – $474.7K
NOI $28,483 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$805.6K
$704.9K – $939.8K
NOI $56,389 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,303
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit garden-style property with recent exterior upgrades, individual electrical meters, tenant storage, laundry, and rear parking.
Where is this quadplex located?
The property is located at 544 93rd Ave N St Petersburg, FL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Four units across two concrete block duplexes; three units are tenant‑occupied; Two 2‑bedroom units at approximately 904 living square feet each and two 1‑bedroom units at approximately 644 living square feet each; Two lots totaling 0.28 acres with a 3,097‑square‑foot property
