506 69th Ave 1,586 SF Specialty Building Offered at $410,000 at a 8.70% Cap Rate in St Pete Beach, FL 33706

This fully leased duplex offers a rare investment opportunity in the heart of Saint Pete Beach, just two blocks from the shoreline. Situated in one of Florida’s most desirable coastal submarkets, the property combines steady rental income with long-term value appreciation potential. Its proximity to the beach positions it strongly for both reliable tenant demand and future redevelopment flexibility.
Constructed with durable block construction, the property consists of two rental units, both currently occupied, delivering consistent cash flow from day one. Tenant leases generate a combined annual income of approximately $33,000, supported by a reported cap rate of 8.7%, making this a compelling option for income-focused investors. Key operating metrics and sustained occupancy demonstrate strong historic performance, while the location ensures demand stability in a market defined by lifestyle appeal and limited supply.
Investors benefit from easy access to local dining, shopping, and entertainment along Gulf Boulevard, as well as connectivity to downtown St. Petersburg and Tampa via major roadways. This enclave attracts year-round visitors along with long-term residents, reinforcing the property’s resilience in varying market conditions. Whether held as a stabilized asset or incorporated into a longer-term portfolio growth strategy, this duplex represents a distinctive combination of beachside location, immediate income, and future upside.