Multifamily Property for Sale in St. Petersburg, FL

  • Price: $1.6M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: St. Petersburg, FL 33705
  • Size: 5,190 SF
  • Year built: 1955

Description

Level up your investment portfolio game with this versatile mixed use property in the heart of Downtown St. Petersburg, FL This well maintained 5,190 SF building consists of a large open floor plan retail/office space on the first floor including two bathrooms. The second floor consists of a residential space with 4 four bedrooms, 1 full bathroom and a half bath, large living room and kitchen (currently tenant occupied). Property conveys a total of 3 lots (.40 Acres). Zoning allows developers to build up to 4 floors that could provide water views of the bay. Perfect property for an investor/developer to renovate or build a new multi-family development. Featuring a newer TPO roof , fenced outside storage, walking distance to St. Petersburg nightlife, arts, restaurants and popular shops along Central Avenue and Beach Drive. Easy access to the interstate and a 40 minute drive to Tampa International Airport. With St. Petersburg redevelopment pushing southward and incentives for investors/developers to construct affordable housing this property has massive investment added value upside! Call to schedule your personal showing now. his well maintained 5,190 SF building consists of a large open floor plan retail/office space on the first floor including two bathrooms. The second floor consists of a residential space with 4 four bedrooms, 1 full bathroom and a half bath, large living room and kitchen (currently tenant occupied). Property conveys a total of 3 lots (.40 Acres). Zoning allows developers to build up to 4 floors that could provide water views of the bay. Perfect property for an investor/developer to renovate or build a new multi-family development. Featuring a newer TPO roof , fenced outside storage, walking distance to St. Petersburg nightlife, arts, restaurants and popular shops along Central Avenue and Beach Drive. Easy access to the interstate and a 40 minute drive to Tampa International Airport. With St. Petersburg redevelopment pushing southward and incent

Market Context

This multifamily in St. Petersburg, FL is listed for sale at $1,599,000 across 5,190 SF. The building dates to 1955. It has been on the market for 23 days. Compare it against other multifamily listings for sale in St. Petersburg, FL — <a href="/search/sale/multifamily/florida/st-petersburg">view the full market</a>.

As of Q4 2025, the Tampa multifamily market showed a 10.3% vacancy rate, rents up 1.9% year over year, and cap rates around 5.6%. Source: Www.matthews.com Q4 2025 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Tampa?
About 5.6% as of Q4 2025, per Www.matthews.com.
Is the Tampa multifamily market tightening or softening?
Vacancy is around 10.3%, with asking rents rising year over year (Q4 2025).

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