Renovated Triplex with Separate
New
For Sale
$565,000
9845 60TH, Pinellas Park, FL 33782
Three-unit property with refreshed interiors, individual outdoor areas, storage sheds, and shared front parking.
Property Size2,714 SF
Days on Market4
Property Features for 9845 60TH
General Information
Standard status
Active
Size
2,714 SF
Property subtype
Investment
Units
Unit Mix
1 x studio, 2 x 2BR/2BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,556
Amenities
porch
fireplace
laundry room
bonus room
back yard
storage shed
Building Details
Building Size
2,714 SF
Year Built
1944
Year Renovated
2026
Listing Agency:
SOUTHERN LIFE REALTY
Listed By:
Damon Lister · License #3272880
(727) 642-1758
Source:
Elliman
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 11 at 10:13AM
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 SOUTHERN LIFE REALTY
Investment Insights
Based on property information with market context.
This triplex contains three distinct residential units with varied layouts. Unit 1 is a Studio 1/1 with a rear porch area. Unit 2 is a 2/2 featuring a fireplace and laundry/mud room, while Unit 3 is the largest unit and includes a 2/2 layout with an enclosed bonus room at the rear. Recent work includes new flooring in each unit, some new appliances, sliding doors, and a roof installed in May 2026. The property was built in 1944.
Each residence has its own backyard space and storage shed. Shared parking is available at the front of the property, which also has a circle drive and the option to create dedicated parking areas for the individual units. The address is 9845 60TH, Pinellas Park, FL 33782. BikeScore is 54, WalkScore is 48, and TransitScore is 24.
Each residence has its own backyard space and storage shed. Shared parking is available at the front of the property, which also has a circle drive and the option to create dedicated parking areas for the individual units. The address is 9845 60TH, Pinellas Park, FL 33782. BikeScore is 54, WalkScore is 48, and TransitScore is 24.
Key Highlights
- Three‑unit triplex with Studio 1/1, 2/2, and 2/2 layouts
- New flooring in each unit, some new appliances, and sliding doors added in 2026
- Roof installed in May 2026
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
$31,679
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
5.61%
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%
$633,580
$633.6K
Cap Rate 7%
$452,557
$452.6K
Cap Rate 9%
$351,989
$352.0K
Market Conditions
NOI Build-Up for 2,714 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
$48.5K $17.88/SF
− Vacancy
−$3.3K −$1.21/SF
EGI
$45.3K $16.67/SF
− OpEx
−$13.6K −$5.00/SF
NOI
$31.7K $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%
$633,580
Cap Rate 7%
$452,557
Cap Rate 9%
$351,989
Alternative Uses
Best Use
Multifamily LT 5
$452.6K
$396.0K – $528.0K
NOI $31,679 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$356.6K
$312.0K – $416.0K
NOI $24,961 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$705.9K
$617.7K – $823.6K
NOI $49,415 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Explore this area
Business Placement
Demographics for 33782, FL
22,198
Population
10,581
Households
2.1
Avg Household Size
50
Median Age
29%
College-Educated
88%
High-School Grad
5.4 sq mi
ZIP Area
4,111
Density / Sq Mi
$65,487
Median Household Income
$41,676
Median Earnings
$1,767
Median Rent
$253,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily 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?
Triplex - Three-unit property with refreshed interiors, individual outdoor areas, storage sheds, and shared front parking.
Where is this triplex located?
The property is located at 9845 60TH Pinellas Park, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Three‑unit triplex with Studio 1/1, 2/2, and 2/2 layouts; New flooring in each unit, some new appliances, and sliding doors added in 2026; Roof installed in May 2026
