Three-Unit Multifamily
For Sale
$650,000
5596 100th Way N, St Petersburg, FL 33708
Three separately metered residences offer private entrances, individual HVAC, laundry, and outdoor areas.
Property Size1,985 SF
Price / SF$327.46
Days on Market202
Property Features for 5596 100th Way N
General Information
Standard status
Active
Size
1,985 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$8,501
Amenities
private backyards
screened-in patio
in-unit laundry
private entrances
Building Details
Buildings
1
Listing Agency:
DALTON WADE INC
(727) 871-3846
Listed By:
Irina Roth LLC
(727) 871-3846
Source:
Exprealty
Added: Jan 22
Changed: Aug 12
Last Checked: Aug 12 at 6:00AM
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 DALTON WADE INC
Investment Insights
Based on property information with market context.
This 1,985-square-foot multifamily property contains three one-bedroom, one-bath residences. Each unit has its own entrance, electric and water meter, HVAC system, and laundry closet with washer and dryer. Two units include private backyards, with one also offering a screened patio. Parking accommodates three vehicles, with additional space for an RV or boat.
The property is in unincorporated Pinellas County and is currently operating as an Airbnb. It is designated Flood Zone X, and the site backs to a school with no neighbors behind it. Madeira Beach is a 5-minute drive away, while the Pinellas Trail is a 5-minute walk. The VA Medical Center, dining, and shopping are within walking distance, and Walmart Supercenter is approximately one mile away.
Recent improvements include a 2021 roof, white PVC fencing excluding the rear boundary, updated air-conditioning systems, an impact-rated back door installed in Unit A in 2023, and water heater replacements in 2017 and 2023.
The property is in unincorporated Pinellas County and is currently operating as an Airbnb. It is designated Flood Zone X, and the site backs to a school with no neighbors behind it. Madeira Beach is a 5-minute drive away, while the Pinellas Trail is a 5-minute walk. The VA Medical Center, dining, and shopping are within walking distance, and Walmart Supercenter is approximately one mile away.
Recent improvements include a 2021 roof, white PVC fencing excluding the rear boundary, updated air-conditioning systems, an impact-rated back door installed in Unit A in 2023, and water heater replacements in 2017 and 2023.
Key Highlights
- Three 1‑bedroom, 1‑bath units within a 1,985‑square‑foot multifamily property
- Separate electric and water meters, individual HVAC systems, and laundry closets
- Private backyards for two units; Unit B also has a screened‑in patio
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
$23,170
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
3.56%
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%
$463,400
$463.4K
Cap Rate 7%
$331,000
$331.0K
Cap Rate 9%
$257,444
$257.4K
Market Conditions
NOI Build-Up for 1,985 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
$35.5K $17.88/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$33.1K $16.67/SF
− OpEx
−$9.9K −$5.00/SF
NOI
$23.2K $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%
$463,400
Cap Rate 7%
$331,000
Cap Rate 9%
$257,444
Alternative Uses
Best Use
Multifamily LT 5
$331.0K
$289.6K – $386.2K
NOI $23,170 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$260.8K
$228.2K – $304.3K
NOI $18,256 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$516.3K
$451.8K – $602.4K
NOI $36,142 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Explore this area
Business Placement
Demographics for 33708, FL
16,034
Population
13,211
Households
1.2
Avg Household Size
60
Median Age
44%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
4,716
Density / Sq Mi
$83,773
Median Household Income
$49,403
Median Earnings
$1,961
Median Rent
$463,700
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?
Triplex - Three separately metered residences offer private entrances, individual HVAC, laundry, and outdoor areas.
Where is this triplex located?
The property is located at 5596 100th Way N St Petersburg, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three 1‑bedroom, 1‑bath units within a 1,985‑square‑foot multifamily property; Separate electric and water meters, individual HVAC systems, and laundry closets; Private backyards for two units; Unit B also has a screened‑in patio
