Single-Story
For Sale
$430,000
Pending
652 37TH N STREET, St Petersburg, FL 33713
Two-bedroom residences offer separate living, dining, and kitchen areas along with shared laundry and backyard access.
Property Size1,900 SF
Days on Market533
Property Features for 652 37TH N STREET
General Information
Standard status
Pending
Size
1,900 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,789
Building Details
Year Built
1981
Listing Agency:
THE GRANNAN GROUP
(239) 340-1691
Listed By:
Chad Grannan, PA · License #3026734
(239) 340-1691
Source:
Exitrealty
Added: Mar 18, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:49PM
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 THE GRANNAN GROUP
Investment Insights
Based on property information with market context.
This single-story duplex, built in 1981, contains two nearly matching two-bedroom, one-bath residences. Each unit includes distinct living, dining, and kitchen areas, while the oversized bedrooms add usable interior space. A separate laundry and utility room provides storage and opens to the backyard.
The property is located at 652 37TH N STREET in St. Petersburg, within Central Oak Park and adjacent to Historic Kenwood. Restaurants, shopping, and the SunRunner are identified nearby, with both the beach and bay described as accessible from the area.
The property is located at 652 37TH N STREET in St. Petersburg, within Central Oak Park and adjacent to Historic Kenwood. Restaurants, shopping, and the SunRunner are identified nearby, with both the beach and bay described as accessible from the area.
Key Highlights
- Two nearly identical 2‑bedroom, 1‑bath units
- Single‑story block duplex built in 1981
- Separate living room, dining room, and kitchen in each unit
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
$22,178
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
5.16%
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%
$443,560
$443.6K
Cap Rate 7%
$316,829
$316.8K
Cap Rate 9%
$246,422
$246.4K
Market Conditions
NOI Build-Up for 1,900 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
$34.0K $17.88/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$31.7K $16.67/SF
− OpEx
−$9.5K −$5.00/SF
NOI
$22.2K $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%
$443,560
Cap Rate 7%
$316,829
Cap Rate 9%
$246,422
Alternative Uses
Best Use
Multifamily LT 5
$316.8K
$277.2K – $369.6K
NOI $22,178 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$249.6K
$218.4K – $291.2K
NOI $17,474 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$494.2K
$432.4K – $576.6K
NOI $34,594 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,790
Businesses Nearby
Explore this area
Business Placement
Demographics for 33713, FL
31,321
Population
16,192
Households
1.9
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
6.5 sq mi
ZIP Area
4,819
Density / Sq Mi
$69,704
Median Household Income
$43,282
Median Earnings
$1,387
Median Rent
$279,000
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?
Duplex - Two-bedroom residences offer separate living, dining, and kitchen areas along with shared laundry and backyard access.
Where is this duplex located?
The property is located at 652 37TH N STREET St Petersburg, FL.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two nearly identical 2‑bedroom, 1‑bath units; Single‑story block duplex built in 1981; Separate living room, dining room, and kitchen in each unit
