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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    120 47th N Ave Saint Petersburg, FL 33703-3903

    • Apartment buildings
    • 63,808 SF
    • 1.92 lot acres
    OFF-MARKET
    Last Sale
    Feb 16, 2022
    $14,900,000
    Value Estimations
    $14,760,000
    Show details
    Cap Rate Potential
    3.5%
    Apartment buildings
    Location Intelligence
    Property ID
    US18-3862739
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Nordica Bay Apartments / Apartment Complex

    Property Details for 120 47th N Ave

    Year built
    1974
    Construction
    CONCRETE BLOCKS
    Lot size
    1.92 lot acres
    Property size
    63,808 SF
    Property type
    Apartment buildings
    APN
    06-31-17-36706-001-0010
    APU
    63117367060010010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $16,885,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,780,000
      6.5%
      $9,030,000
      7%
      $8,385,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $14,624,000
      Market price range: $9.76M - $17.6M
      AI Estimate
      $14,624,000
      Market price range: $9.76M - $17.6M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $12,605,000
      Current use
      AUTO REPAIR, GARAGE
      $22,270,000
      Change: +77% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $20,290,000
      Change: +61% Conversion: Difficult
      OFFICE BUILDING
      $18,965,000
      Change: +50% Conversion: Moderate
      WAREHOUSE, STORAGE
      $15,390,000
      Change: +22% Conversion: Difficult
      RETAIL STORES
      $15,060,000
      Change: +19% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6351
    Latitude
    27.8145
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $238,304
    $0.00
    $0.00
    $12,000,000
    -
    $3,115,395
    $8,884,605
    $12,000,000

    Comparable in this City

    • Value Estimation
      $1,070,000
      4,903 SF

      128 Jefferson N Cir

      APARTMENT HOUSE (5+ UNITS) • 4,903 SF
      128 Jefferson N Cir, Saint Petersburg, FL 33703-1340
      View Details
    • Value Estimation
      $1,745,000
      11,418 SF

      361 41st N Ave

      APARTMENT HOUSE (5+ UNITS) • 11,418 SF
      361 41st N Ave, Saint Petersburg, FL 33703-4862
      View Details
    • Value Estimation
      $2,200,000
      14,400 SF

      5600 1st N St

      APARTMENT HOUSE (5+ UNITS) • 14,400 SF
      5600 1st N St, Saint Petersburg, FL 33703-2420
      View Details
    • Value Estimation
      $4,740,000
      31,007 SF

      4400 1st N St

      APARTMENT HOUSE (5+ UNITS) • 31,007 SF
      4400 1st N St, Saint Petersburg, FL 33703-4912
      View Details
    • Value Estimation
      $2,680,000
      15,168 SF

      800 59th NE Ave

      APARTMENT HOUSE (5+ UNITS) • 15,168 SF
      800 59th NE Ave, Saint Petersburg, FL 33703-1608
      View Details
    • Value Estimation
      $980,000
      6,408 SF

      5619 Manchester N St

      APARTMENT HOUSE (5+ UNITS) • 6,408 SF
      5619 Manchester N St, Saint Petersburg, FL 33703-1412
      View Details

    Similar Nearby for Sale

    • $475,000
      Pending

      Allendale Duplex on Corner Lot

      Duplex on .24-acre lot in Allendale neighborhood.
      4530 Dr Martin Luther King Jr St N, St Petersburg, FL 33703
      View Details
    • $2,000,000
      Pending

      Waterfront Property with Bay Views

      Rare waterfront property in St. Petersburg with open bay views.
      1948 Carolina Ave NE, St Petersburg, FL 33703
      View Details
    • $2,950,000
      6,316 SF

      Tire Kingdom NNN Investment

      St. Petersburg, FL Auto Shop NNN Lease
      5344 16Th St, St. Petersburg, FL 33703
      View Details
    • Contact for pricing
      8,848 SF

      Industrial Building Near US Hwy 19

      Industrial building with loading docks, near major highways.
      3201 44Th Ave N, St Petersburg, FL 33703
      View Details
    • $300,000
      0.12 Acres

      Residential Lot in Northeast Park

      Buildable corner lot in desirable St. Petersburg neighborhood.
      237 50Th Ave N, St Petersburg, FL 33703
      View Details
    • New
      $710,000
      0.28 Acres

      Allendale Double Lot Opportunity

      0.28-acre double lot in Greater Allendale neighborhood.
      655 42Nd Ave N, St Petersburg, FL 33703
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      1,750 SF

      Retail Space in St. Petersburg

      Retail space available for lease in St. Petersburg, Florida.
      575 S 45Th Ave, St Petersburg, FL 33703
      View Details
    • $30 SF/Yr
      1,415 SF

      Professional Office Space For Lease

      Corner office space in a high-visibility St. Petersburg location.
      5001 4Th St N, St Petersburg, FL 33703
      View Details
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    120 47th N Ave
    Saint Petersburg, FL 33703-3903
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    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
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