St. Pete Multifamily Investment
5845 FAIRFIELD S AVENUE, St Petersburg, FL 33707
Value-add multifamily property in prime St. Pete location.
Type:Commercial/Industrial
Property size:
6,384 SFLot size:
0.32 AcresPrice / SF:
$172/SF- Added:
- Mar 11, 2026
- Days on Market:
- 69
- Last Refresh:
- Apr 6 at 3:01 am
Property Features for 5845 FAIRFIELD S AVENUE
General Information
- Standard status
- Active
- Size
- 6,384 SF
- Lot size
- 0.32 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1974
Listing agent Davis Nunneley License #3468881
Listing office BRIDGEWATER COMMERCIAL RE (813) 541-4254
Listing date Mar 11, 2026
Source Exitrealty
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 BRIDGEWATER COMMERCIAL RE
HighLights
- Value‑add opportunity with potential to increase rents to market value after renovations.
- Prime location near the Pinellas Trail, St. Pete Beach, and Treasure Island.
- Walking distance to Boca Ciega Highschool and Central Ave.
- Multifamily property with 8 units.
- Two‑story building.
- Built in 1974.
Overview
This two-story multifamily property features eight units and presents a value-add investment opportunity. The property is currently receiving rents slightly below market value, offering the potential to increase rents to market value after renovations. Situated in a prime location, the property is adjacent to the Pinellas Trail and is a short distance from both St. Pete Beach and Treasure Island, as well as Boca Ciega High School and Central Avenue. The property contains 6,384 square feet and is located in St. Petersburg, Florida.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$652.4K
NOI $58,714 @ 9.00% cap · cautious / downside scenario
Moderate
$838.8K
NOI $58,714 @ 7.00% cap · market / base-case scenario
Aggressive
$1.17M
NOI $58,714 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.9k | $18.00 |
| − Vacancy | −$8.2k | −$1.28 |
| EGI | $106.8k | $16.72 |
| − OpEx | −$48.0k | −$7.52 |
| NOI | $58.7k | $9.20 |
6,384 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$838.8K
$733.9K – $978.6K
NOI $58,714 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,237 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- St Petersburg
- County
- Pinellas
- State
- Florida
- Longitude
- -82.7134
- Latitude
- 27.7643
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Value-add multifamily property in prime St. Pete location.
Where is this apartment building located?
The property is located at 5845 FAIRFIELD S AVENUE 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: Value‑add opportunity with potential to increase rents to market value after renovations.; Prime location near the Pinellas Trail, St. Pete Beach, and Treasure Island.; Walking distance to Boca Ciega Highschool and Central Ave.
