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

    3401 37th S St Saint Petersburg, FL 33711-3906

    • Apartment buildings
    • 56,402 SF
    • 3.47 lot acres
    OFF-MARKET
    Value Estimations
    $10,620,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5357245
    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

    • Unique Pearl Esthetics / Medical Clinic / Skin Care Clinic
    • Boca Ciega Apartments LLC / Apartment Building / Apartment Complex
    • Good Solutions Tax Pros LLC / Accounting Firm / Tax Preparation

    Property Details for 3401 37th S St

    Year built
    1974
    Construction
    CONCRETE BLOCKS
    Lot size
    3.47 lot acres
    Property size
    56,402 SF
    Property type
    Apartment buildings
    APN
    34-31-16-20547-002-0010
    APU
    343116205470020010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,617,000
      Market price range: $10.6M - $17.0M
      AI Estimate
      $10,617,000
      Market price range: $10.6M - $17.0M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $13,850,000
      Current use
      OFFICE BUILDING
      $16,765,000
      Change: +21% Conversion: Moderate
      WAREHOUSE, STORAGE
      $13,605,000
      Change: -2% Conversion: Difficult
      RETAIL STORES
      $13,315,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6843
    Latitude
    27.7369
    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
    $88,868
    $0.00
    $0.00
    $4,475,000
    -
    $828,084
    $3,646,916
    $4,475,000

    Comparable in this City

    • Value Estimation
      $1,285,000
      6,826 SF

      3615 37th S St

      APARTMENT HOUSE (5+ UNITS) • 6,826 SF
      3615 37th S St, Saint Petersburg, FL 33711-4317
      View Details
    • Value Estimation
      $1,705,000
      5,660 SF

      3910 34th S Ave

      APARTMENT HOUSE (5+ UNITS) • 5,660 SF
      3910 34th S Ave, Saint Petersburg, FL 33711-4272
      View Details
    • Value Estimation
      $1,820,000
      6,033 SF

      4130 34th S Ave

      APARTMENT HOUSE (5+ UNITS) • 6,033 SF
      4130 34th S Ave, Saint Petersburg, FL 33711-4178
      View Details
    • Value Estimation
      $2,390,000
      7,920 SF

      3470 24th S Ave

      APARTMENT HOUSE (5+ UNITS) • 7,920 SF
      3470 24th S Ave, Saint Petersburg, FL 33711-3409
      View Details
    • Value Estimation by Request
      7,840 SF

      4420 37Th St

      Multifamily properties • 7,840 SF
      4420 37Th St, St. Petersburg, FL 33711
      View Details
    • Value Estimation by Request
      47,818 SF

      3951 34th S St

      APARTMENT HOUSE (5+ UNITS) • 47,818 SF
      3951 34th S St, Saint Petersburg, FL 33711-4342
      View Details

    Similar Nearby for Sale

    • $650,000
      6,000 SF

      St. Pete 6-Unit Multifamily Development

      Shovel-ready, 6-unit apartment building in St. Petersburg, FL
      3540 1St Ave, St. Petersburg, FL 33711
      View Details
    • $650,000
      0.20 Acres

      Permitted Multifamily Property in St. Petersburg

      Permitted 6-unit multifamily property, new construction, excellent investment opportunity.
      3540 1St Ave S, St Petersburg, FL 33711
      View Details
    • $899,999
      0.65 Acres

      St. Petersburg Vacant Double Lot

      0.615-acre lot approved for 74 apartment units near downtown.
      1ST 1St Ave S, St Petersburg, FL 33711
      View Details
    • $475,000
      Pending

      St. Pete Triplex Corner Lot

      Well-maintained income-producing triplex with recent renovations and new roof.
      3460 4Th Ave S, St Petersburg, FL 33711
      View Details
    • $495,000

      Renovated Duplex with Income Potential

      Renovated duplex with strong income potential, currently operating as rentals.
      4811 Emerson Ave S, St Petersburg, FL 33711
      View Details
    • $795,000
      2,164 SF

      Renovated Mixed-Use Central Avenue Property

      Renovated mixed-use property with office and income-generating apartment.
      4100 Central Ave, St Petersburg, FL 33711
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      13,033 SF

      Office Warehouse with Outdoor Storage

      Mid-size warehouse with modern office and outdoor storage available for lease.
      4451 8Th Ave S, Saint Petersburg, FL 33711
      View Details
    • Contact for pricing

      St. Petersburg Outparcel For Rent

      2.8± AC outparcel in St. Petersburg's "Suncoast Plaza".
      1900 34Th St N, St Petersburg, FL 33711
      View Details
    • $40 SF/Yr
      8,192 SF

      Retail Space in St. Petersburg

      Retail space available for lease in St. Petersburg, Florida.
      3801-3805 S 34Th St, St Petersburg, FL 33711
      View Details
    • $20 SF/Yr
      8,681 SF

      Prime Central Avenue Mixed-Use Space

      Four units available in a high-traffic St. Petersburg location.
      4200 Central Ave S, St Petersburg, FL 33711
      View Details
    • $28 SF/Yr
      70,780 SF

      St. Pete Medical Office Space

      Prime Medical Office Suites Available
      4801 34Th St, St. Petersburg, FL 33711
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space on 34th Street

      Retail space with frontage on 34th Street in St. Petersburg.
      4100-4116 34Th St S, St Petersburg, FL 33711
      View Details
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    3401 37th S St
    Saint Petersburg, FL 33711-3906
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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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