Mixed-Use Property with Rental
For Sale
$675,000
5617 GULFPORT Boulevard S, Gulfport, FL 33707
Commercial Sale, GULFPORT, FL
Property Size1,851 SF
Lot Size0.15 Acres
Price / SF$364.67
Days on Market515
Property Features for 5617 GULFPORT Boulevard S
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Refrigerator
Subdivision
PASADENA GARDENS GULFVIEW SEC
Directions
Gulfport Blvd s to property on the North side of the Blvd.
Standard status
Active
APN
28-31-16-67338-037-0110
Size
1,851 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PASADENA GARDENS GULFVIEW SEC BLK 37, W 25FT OF LOT 11 & E 27FT OF LOT 12
Tax Annual Amount
3968
Legal Description
PASADENA GARDENS GULFVIEW SEC BLK 37, W 25FT OF LOT 11 & E 27FT OF LOT 12
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1954
Floors in Building
1
Number of units
2
Building materials
Block
Listing Agency:
GULFPORT REALTY
(727) 289-5500
Listed By:
Stacey Purcell · License #3218777
(727) 744-0636
Added: Apr 4, 2025
Changed: Aug 24
Last Checked: Aug 31 at 2:06AM
MLS# TB8370496
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 1,851-square-foot block property, built in 1954, combines a four-bedroom front area with an office and three bathrooms. The front portion can accommodate commercial or residential occupancy, while the private rear section contains two separate one-bedroom, one-bathroom units. Each rear unit has dedicated parking, and the property also includes a refrigerator, central heating, and central air conditioning.
Positioned on Gulfport Boulevard S in Gulfport, the property offers road frontage, exposure, and ample parking. Commercial/residential zoning supports a range of potential configurations, including operating a business in the front while occupying or leasing the rear units. The 0.15-acre parcel is located in Pinellas County, Florida.
Positioned on Gulfport Boulevard S in Gulfport, the property offers road frontage, exposure, and ample parking. Commercial/residential zoning supports a range of potential configurations, including operating a business in the front while occupying or leasing the rear units. The 0.15-acre parcel is located in Pinellas County, Florida.
Key Highlights
- Commercial/residential zoning on a 0.15‑acre parcel
- 1,851 square feet with a four‑bedroom front area, office, and 3 bathrooms
- Two rear units, each with 1 bedroom and 1 bathroom
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
$28,739
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
4.26%
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%
$574,780
$574.8K
Cap Rate 7%
$410,557
$410.6K
Cap Rate 9%
$319,322
$319.3K
Market Conditions
NOI Build-Up for 1,851 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
$48.2K $26.04/SF
− Vacancy
−$9.9K −$5.34/SF
EGI
$38.3K $20.70/SF
− OpEx
−$9.6K −$5.18/SF
NOI
$28.7K $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%
$574,780
Cap Rate 7%
$410,557
Cap Rate 9%
$319,322
Alternative Uses
Best Use
Office B
$410.6K
$359.2K – $479.0K
NOI $28,739 @ 7.0% cap · market cap 4.26%
Second Best
Mixed Use
$328.4K
$287.4K – $383.2K
NOI $22,989 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$481.5K
$421.3K – $561.7K
NOI $33,702 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
815
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial/residential zoning supports a front business or living area with two private rear units.
Where is this mixed-use property located?
The property is located at 5617 GULFPORT Boulevard S Gulfport, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Commercial/residential zoning on a 0.15‑acre parcel; 1,851 square feet with a four‑bedroom front area, office, and 3 bathrooms; Two rear units, each with 1 bedroom and 1 bathroom
