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

    5840 37th N Ave Saint Petersburg, FL 33710-1967

    • Apartment buildings
    • 8,000 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Dec 02, 2022
    $3,205,000
    Value Estimations
    $3,125,000
    Show details
    Cap Rate Potential
    2%
    Apartment buildings
    Location Intelligence
    Property ID
    US18-5614436
    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

    • Pam Terrace / Apartment Building

    Property Details for 5840 37th N Ave

    Year built
    1968
    Construction
    CONCRETE BLOCKS
    Lot size
    0.34 lot acres
    Property size
    8,000 SF
    Property type
    Apartment buildings
    APN
    08-31-16-81111-003-0080
    APU
    83116811110030080

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,630,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,787,000
      Market price range: $1.37M - $3.63M
      AI Estimate
      $2,787,000
      Market price range: $1.37M - $3.63M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,435,000
      Current use
      RESTAURANT
      $4,910,000
      Change: +102% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,805,000
      Change: +97% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,790,000
      Change: +15% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,545,000
      Change: +5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7135
    Latitude
    27.8047
    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
    $22,639
    $0.00
    $0.00
    $1,140,000
    -
    $343,517
    $796,483
    $1,140,000

    Comparable in this City

    • Value Estimation
      $48,790,000
      142,339 SF

      250 58th N St

      APARTMENT HOUSE (5+ UNITS) • 142,339 SF
      250 58th N St, Saint Petersburg, FL 33710-7904
      View Details
    • Value Estimation
      $4,155,000
      13,156 SF

      5800 37th N Ave

      APARTMENT HOUSE (5+ UNITS) • 13,156 SF
      5800 37th N Ave, Saint Petersburg, FL 33710-1934
      View Details
    • Value Estimation
      $3,305,000
      18,480 SF

      5701 21st N Ave

      APARTMENT HOUSE (5+ UNITS) • 18,480 SF
      5701 21st N Ave, Saint Petersburg, FL 33710-5044
      View Details
    • Value Estimation
      $1,270,000
      4,132 SF

      7201 Central Ave

      APARTMENT HOUSE (5+ UNITS) • 4,132 SF
      7201 Central Ave, Saint Petersburg, FL 33710-7413
      View Details
    • Value Estimation
      $3,340,000
      4,644 SF

      3556 66th N St

      APARTMENT HOUSE (5+ UNITS) • 4,644 SF
      3556 66th N St, Saint Petersburg, FL 33710-1567
      View Details
    • Value Estimation
      $4,215,000
      13,728 SF

      801 60th N St

      APARTMENT HOUSE (5+ UNITS) • 13,728 SF
      801 60th N St, Saint Petersburg, FL 33710-7062
      View Details

    Similar Nearby for Sale

    • $990,000
      2,236 SF

      Turnkey Triplex Investment Opportunity

      Renovated triplex in St. Petersburg with modern upgrades and high income.
      5022 10Th Ave N, St Petersburg, FL 33710
      View Details
    • $40,000
      0.03 Acres

      Vacant Lot in Eagles Nest

      Vacant lot in 55+ community with low HOA fees.
      7801 34Th Ave N, St Petersburg, FL 33710
      View Details
    • Contact for pricing
      3,076 SF

      St. Petersburg Retail/Office Building

      Single-story retail/office building with updated signage and active tenants.
      4980 38Th Ave N, St Petersburg, FL 33710
      View Details
    • $1,599,999
      0.25 Acres

      Boca Ciega Bay Frontage Land

      Quarter-acre lot with 129' of bay frontage, ready to build.
      7940 Garden Dr N, St Petersburg, FL 33710
      View Details
    • Contact for pricing
      0.49 Acres

      St. Petersburg Medical Office Building

      Prime Medical Office, High Visibility, Redevelopment Potential
      10 Pasadena Ave, St. Petersburg, FL 33710
      View Details
    • Contact for pricing

      Retail Building with Drive-Thru

      851 SF building on 0.52 acres with drive-thru.
      Saint Petersburg, FL 33710
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,234 SF

      Retail Space in Saint Petersburg

      Retail space available for lease in Saint Petersburg, Florida.
      1402 66Th St N, Saint Petersburg, FL 33710
      View Details
    • Contact for pricing

      Outparcel Opportunities at Premier Mall

      Outparcels available for ground lease or build-to-suit.
      6901 22Nd Ave N, Saint Petersburg, FL 33710
      View Details
    • Contact for pricing
      2,200 SF

      Retail Space in St. Petersburg

      Retail space available in a busy St. Petersburg shopping center.
      2212 66Th St N, St Petersburg, FL 33710
      View Details
    • Contact for pricing
      118,574 SF

      Oak Tree Plaza: St. Petersburg Retail

      Prime St. Pete Retail Space Available. High-traffic location.
      9th Ave. & Tyrone Blvd, St. Petersburg, FL 33710
      View Details
    • Contact for pricing

      Retail Spaces in St. Petersburg

      Retail spaces available in high-traffic St. Petersburg shopping center.
      3501 49Th St North, St Petersburg, FL 33710
      View Details
    • $40,200

      Medical Office Warm Shell Space

      1,517 SF warm shell space in high-traffic medical complex.
      7855 38Th Ave N, St Petersburg, FL 33710
      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.
    5840 37th N Ave
    Saint Petersburg, FL 33710-1967
    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.