Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1503 9Th Ave St. Petersburg, FL 33704

    • Apartment buildings
    • 16,448 SF
    For Sale
    View listing
    $4,375,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1503 9Th Ave

    Year built
    1960
    Property size
    16,448 SF
    Property type
    Apartment buildings

    Description

    This exceptional 35-unit apartment building presents a compelling investment opportunity in the heart of St. Petersburg, Florida. The property, located at 1503 9th St N, boasts a prime location less than a mile from vibrant dining, retail, and nightlife. Built in 1960 and extensively renovated in 2022, this two-story, concrete block structure comprises two buildings totaling 16,448 square feet with 10,216 square feet of net rentable space. The recent renovation included new exterior paint, life-proof vinyl plank flooring, and new furnishings in all 35 units, which are fully furnished. The property benefits from a short-term business license, offering flexibility for various rental strategies, including apartments, Airbnb, or a boutique hotel. Significant capital improvements exceeding $200,000 have been completed since 2021, including roof permitting in 2019. The property offers a mix of studio, one-bedroom, and two-bedroom floor plans, catering to a diverse range of tenants. With a strong NOI of $486,960 and an attractive cap rate of 11.13%, this property represents a significant return on investment. Situated in Pinellas County, the most densely populated county in Florida, and within 20 minutes of St. Pete Beach, this location offers unparalleled access to amenities and attractions. The asking price is $4,375,000, or $125,000 per unit. The permitted zoning is 18-31-17-43182-000-0010. This is a fee simple ownership opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    St. Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6463
    Latitude
    27.7865

    Comparable in this City

    • Value Estimation by Request
      8,266 SF

      300 34th N Ave

      APARTMENT HOUSE (5+ UNITS) • 8,266 SF
      300 34th N Ave, Saint Petersburg, FL 33704-1351
      View Details
    • Value Estimation
      $1,890,000
      3,508 SF

      1153 34th N Ave

      APARTMENT HOUSE (5+ UNITS) • 3,508 SF
      1153 34th N Ave, Saint Petersburg, FL 33704-1821
      View Details
    • Value Estimation by Request
      6,918 SF

      1520 22nd N Ave

      APARTMENT HOUSE (5+ UNITS) • 6,918 SF
      1520 22nd N Ave, Saint Petersburg, FL 33704-3171
      View Details
    • Value Estimation by Request
      2,368 SF

      2018 Dr Martin Luther King Jr N St

      APARTMENT HOUSE (5+ UNITS) • 2,368 SF
      2018 Dr Martin Luther King Jr N St, Saint Petersburg, FL 33704-3212
      View Details
    • Value Estimation by Request
      6,620 SF

      2827 Dr Martin Luther King Jr N St

      APARTMENT HOUSE (5+ UNITS) • 6,620 SF
      2827 Dr Martin Luther King Jr N St, Saint Petersburg, FL 33704-2082
      View Details
    • Value Estimation by Request
      7,970 SF

      205 16th NE Ave

      APARTMENT HOUSE (5+ UNITS) • 7,970 SF
      205 16th NE Ave, Saint Petersburg, FL 33704-4758
      View Details

    Similar Nearby for Sale

    • $800,000
      2,094 SF

      St. Petersburg Multifamily Investment Opportunity

      Five units in desirable Euclid neighborhood, near downtown St. Pete.
      1040 19Th Ave N, St Petersburg, FL 33704
      View Details
    • $4,375,000
      16,448 SF

      St. Pete Multifamily Investment

      35-Unit Apartment Building, High ROI
      1503 9Th Ave, St. Petersburg, FL 33704
      View Details
    • $1,600,000
      4,172 SF

      Euclid Grove Flats: 8-Unit Apartment Complex

      Prime St. Petersburg Multifamily Investment
      1701 16Th St, St. Petersburg, FL 33704
      View Details
    • $1,095,000
      2,838 SF

      Restored Triplex in Euclid St. Paul's

      Recently restored triplex in desirable St. Petersburg neighborhood.
      925 16Th Ave N, St Petersburg, FL 33704
      View Details
    • $540,000
      1,901 SF

      Turnkey St. Petersburg Duplex

      Updated duplex in prime location with strong cash flow.
      3651 Haines Rd N, St Petersburg, FL 33704
      View Details
    • $1,199,000
      2,680 SF

      Rebuilt Quadplex Near Downtown St. Pete

      Turnkey, fully rebuilt quadplex with commercial-grade systems and stabilized rent roll.
      3103 16Th St N, St Petersburg, FL 33704
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,700 SF

      Suburban Office Building Near Hospital

      Six-story office building suitable for professional or medical use.
      2600 Dr Martin Luther King Jr St N, Saint Petersburg, FL 33704
      View Details
    • $35 SF/Yr
      2,500 SF

      Retail Space in Modern Building

      Modern retail space with high traffic and ample parking.
      182 37Th Ave N, Saint Petersburg, FL 33704
      View Details
    • Contact for pricing

      St. Petersburg Restaurant/Retail Opportunity

      Prime location in St. Petersburg for lease or build-to-suit.
      2221 4Th St N, St Petersburg, FL 33704
      View Details
    • $22 SF/Yr
      2,111 SF

      Available Office Space Near Hospital

      2,111 SF office space near St. Petersburg General Hospital.
      5747 38Th Ave N, Saint Petersburg, FL 33704
      View Details
    • $3,000 /Mo
      2,000 SF

      Retail Spaces Near Downtown

      Exclusive retail spaces available for lease near Central Ave.
      2300 Dr Martin Luther King Jr St S, St Petersburg, FL 33704
      View Details
    • $25 SF/Yr
      43,740 SF

      St. Petersburg Office Space for Lease

      Prime St. Pete office suites, immediate occupancy.
      3637 4Th St, St. Petersburg, FL 33704
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1503 9Th Ave
    St. Petersburg, FL 33704
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.