Waterfront Triplex in Madeira
For Sale
Contact for pricing
14975 1st St E, Madeira Beach, FL 33708
Updated triplex on open canal, minutes from John Pass.
Property Size2,752 SF
Price / SF$381.54
Days on Market727
Property Features for 14975 1st St E
General Information
Standard status
Active
Size
2,752 SF
Property subtype
Multifamily
Zoning
Triplex
Occupancy
100%
Investment Type
Net Lease
Building Details
Year Built
1953
Year Renovated
2023
Buildings
1
Stories
2
Units
3
Listing Agency:
Buxton Properties Inc
Listed By:
Maki Kubba · License #FL 595500
Source:
Crexi
Added: Sep 2, 2024
Changed: Aug 24
Last Checked: Aug 29 at 2:57PM
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 Buxton Properties Inc
Investment Insights
Based on property information with market context.
This waterfront triplex is located on a wide open canal in Madeira Beach, with access to the intercoastal waterway and the Gulf of Mexico. The concrete block building has been updated and remodeled with new flooring, fresh paint, and new electrical wiring with new electrical panels. Situated in a desirable area, the property is minutes from John Pass by boat or car. The location offers convenient access to restaurants, cafes, shopping centers, boat and jet ski rentals, Tyrone Mall, Walmart, and Target. It is also within walking distance of beaches. The triplex features a two-bedroom, two-bath unit, a one-bedroom, one-bath unit, and an efficiency. There are four carports and parking space for eight cars. A balcony and porch provide space for enjoying the waterfront views and watching dolphins. The property offers the potential to live in one unit and rent out the other two. A boat slip with a lifter is available for rent for additional income.
Key Highlights
- Waterfront property on a wide canal with direct access to the Intracoastal Waterway and the Gulf of Mexico
- Fully rented triplex providing immediate rental income potential
- Updated and remodeled block concrete construction with new flooring, fresh paint, and new electrical rewiring/panels**
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
$32,123
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
3.06%
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%
$642,460
$642.5K
Cap Rate 7%
$458,900
$458.9K
Cap Rate 9%
$356,922
$356.9K
Market Conditions
NOI Build-Up for 2,752 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
$49.2K $17.88/SF
− Vacancy
−$3.3K −$1.21/SF
EGI
$45.9K $16.67/SF
− OpEx
−$13.8K −$5.00/SF
NOI
$32.1K $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%
$642,460
Cap Rate 7%
$458,900
Cap Rate 9%
$356,922
Alternative Uses
Best Use
Multifamily LT 5
$458.9K
$401.5K – $535.4K
NOI $32,123 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$361.6K
$316.4K – $421.8K
NOI $25,310 @ 7.0% cap · market cap 2.41%
Theoretical Best
Office A
$715.8K
$626.3K – $835.1K
NOI $50,107 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
633
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
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Frequently Asked Questions
What type of property is this?
Triplex - Updated triplex on open canal, minutes from John Pass.
Where is this triplex located?
The property is located at 14975 1st St E Madeira Beach, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Waterfront property on a wide canal with direct access to the Intracoastal Waterway and the Gulf of Mexico; Fully rented triplex providing immediate rental income potential; Updated and remodeled block concrete construction with new flooring, fresh paint, and new electrical rewiring/panels**
