Updated Two-Unit
For Sale
$475,000
612 S LINCOLN AVE, Clearwater, FL 33756
Two renovated residences offer separate laundry rooms and updated kitchens and baths.
Property Size1,720 SF
Price / SF$276.16
Days on Market181
Property Features for 612 S LINCOLN AVE
General Information
Standard status
Active
Size
1,720 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Cap Rate
6.9%
Taxes and HOA fees
Annual Taxes
$5,591
Amenities
laundry room
Building Details
Building Size
1,720 SF
Year Built
1963
Buildings
1
Construction
block
Listing Agency:
DALTON WADE INC
Listed By:
Cuc Dinh
Source:
Stationsquarerealty
Added: Apr 4
Changed: Sep 29
Last Checked: Oct 1 at 6:51PM
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 1963 block duplex contains two residences: one with three bedrooms and one with two. Both units have tile flooring, refreshed kitchen and bathroom cabinetry, stone countertops, stainless steel appliances, and individual laundry rooms with additional storage space. The property totals 1,720 square feet.
The site is primarily in an X flood zone, with a small corner in an AE zone.
The site is primarily in an X flood zone, with a small corner in an AE zone.
Key Highlights
- Two‑unit duplex with 1,720 square feet
- Three‑bedroom and two‑bedroom residences
- Block construction; built in 1963
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
$23,724
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
4.99%
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%
$474,480
$474.5K
Cap Rate 7%
$338,914
$338.9K
Cap Rate 9%
$263,600
$263.6K
Market Conditions
NOI Build-Up for 1,720 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
$36.1K $21.00/SF
− Vacancy
−$2.2K −$1.30/SF
EGI
$33.9K $19.70/SF
− OpEx
−$10.2K −$5.91/SF
NOI
$23.7K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /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%
$474,480
Cap Rate 7%
$338,914
Cap Rate 9%
$263,600
Alternative Uses
Best Use
Multifamily LT 5
$338.9K
$296.6K – $395.4K
NOI $23,724 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$303.3K
$265.4K – $353.8K
NOI $21,228 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$482.6K
$422.2K – $563.0K
NOI $33,779 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,663
Businesses Nearby
Explore this area
Business Placement
Demographics for 33756, FL
31,807
Population
15,474
Households
2.1
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
7.2 sq mi
ZIP Area
4,418
Density / Sq Mi
$63,990
Median Household Income
$38,563
Median Earnings
$1,382
Median Rent
$335,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two renovated residences offer separate laundry rooms and updated kitchens and baths.
Where is this duplex located?
The property is located at 612 S LINCOLN AVE Clearwater, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,720 square feet; Three‑bedroom and two‑bedroom residences; Block construction; built in 1963
