Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    470 3rd S St, Unit 206 Saint Petersburg, FL 33701-4644
    Back to Search
    Property profile & analytics

    470 3rd S St, Unit 206 Saint Petersburg, FL 33701-4644

    View on Map
    • Residential income homes
    • 1,045 SF
    Off-Market
    Last Sale May 17, 2024
    $512,000
    Property ID
    US18-5268581
    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.
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    2.4%
    Residential income homes
    Location Intelligence

    Current Use by Public Records

    • The Beacon on Third Condos / Condominium Complex
    • The Key Group LLC / Property Management Company
    • Japan-America Society of Tampa Bay, Inc. / Charitable Organization
    • Christopher Micaud Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Amanda Bursik | The Key Group / Real Estate Agency

    Property Details for 470 3rd S St

    Year built
    1965
    Construction
    WOOD FRAME
    Property size
    1,045 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    19-31-17-06019-000-0206
    APU
    193117060190000206

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $510,000
      ML approach
      $510,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $342,000
      Market price range: $343k - $479k
      AI Estimate
      $342,000
      Market price range: $343k - $479k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $400,000
      Current use
      OFFICE BUILDING
      $695,000
      Change: +75% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $365,000
      Change: -8% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $330,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6363
    Latitude
    27.7661
    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
    $0.00
    $0.00
    $0.00
    $234,669
    -
    $0.00
    $353,975
    $353,975

    Comparable in this City

    • Value Estimation by Request
      470 SF

      735 5th N Ave, Unit 11

      APARTMENT HOUSE (UNDER 5 UNITS) • 470 SF
      735 5th N Ave, Saint Petersburg, FL 33701-6201
      View Details
    • Value Estimation by Request
      1,340 SF

      1200 Shr NE Dr, Unit 110

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,340 SF
      1200 Shr NE Dr, Saint Petersburg, FL 33701-1446
      View Details
    • Value Estimation by Request
      750 SF

      1200 Shr NE Dr, Unit 215

      APARTMENT HOUSE (UNDER 5 UNITS) • 750 SF
      1200 Shr NE Dr, Saint Petersburg, FL 33701-1446
      View Details
    • Value Estimation by Request
      1,170 SF

      200 4th S Ave, Unit 221

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,170 SF
      200 4th S Ave, Saint Petersburg, FL 33701-4390
      View Details
    • Value Estimation by Request
      1,170 SF

      100 4th S Ave, Unit 230

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,170 SF
      100 4th S Ave, Saint Petersburg, FL 33701-4370
      View Details
    • Value Estimation by Request
      743 SF

      200 4th S Ave, Unit 112

      APARTMENT HOUSE (UNDER 5 UNITS) • 743 SF
      200 4th S Ave, Saint Petersburg, FL 33701-4388
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,015 SF

      Uptown St. Petersburg Multifamily Building

      Five-unit multifamily building in historic Uptown St. Petersburg neighborhood.
      471 9Th Ave N, St Petersburg, FL 33701
      View Details
    • $925,000
      Pending

      Historic Uptown Multifamily Investment

      Six-unit multifamily property in desirable Historic Uptown neighborhood.
      421 10Th Ave N, St Petersburg, FL 33701
      View Details
    • $925,000
      Pending

      Historic Uptown Multifamily Investment

      Six-unit multifamily property in St. Petersburg's Historic Uptown neighborhood.
      421 10Th Ave N, St Petersburg, FL 33701
      View Details
    • New
      $1,499,990
      Pending

      Mediterranean Multifamily Income Property

      Boutique 8-unit residence in the historic Old Northeast.
      1233 Oak St NE, St Petersburg, FL 33701
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown St. Petersburg Commercial Space

      Renovated office space overlooking Mirror Lake, available 1/1/26.
      248 Mirror Lake Dr N, St Petersburg, FL 33701
      View Details
    • Contact for pricing

      Downtown St. Pete Retail Space

      Retail space in the heart of Downtown St. Pete.
      572 1St Ave N, St Petersburg, FL 33701
      View Details
    • Contact for pricing
      3,285 SF

      Beach Drive Retail Opportunity

      Retail spaces available on iconic Beach Drive in St. Petersburg.
      400 Beach Dr NE, St Petersburg, FL 33701
      View Details
    • $31 SF/Yr
      40,689 SF

      Class A Office Space Available

      Class A office building with contiguous space for rent.
      490 1St Ave S, St Petersburg, FL 33701
      View Details
    • Contact for pricing

      Renovated Office Space with Free Parking

      Newly renovated office spaces available with free parking.
      696 1St Ave N, Saint Petersburg, FL 33701
      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.
    470 3rd S St, Unit 206
    Saint Petersburg, FL 33701-4644
    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

    Thank You for Inquiry
    470 3rd S St, Saint Petersburg, FL, 33701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!