7121 BAY STREET
About This Property
Enjoy the rare combination of a private backyard and stunning waterfront views-all in the heart of St. Pete Beach! Wake up to breathtaking panoramic views of Boca Ciega Bay-stretching all the way to downtown St. Pete. This deep-water property is a dream for boaters, water lovers, and visionary buyers. Whether you're looking to restore the current home to its full glory or start fresh with a custom build, this is the perfect canvas.
Situated on a generous 75' of private waterfront with a seawall and dock, this home offers direct access for boating, fishing, and dolphin watching right from your own secluded backyard. Enjoy your morning coffee with pelicans overhead, take a sunset cruise, or stroll just 3 blocks to Corey Avenue for shopping, dining, entertainment, and the popular Sunday Morning Market.
The property sits on a spacious 75x140 (10,502 sqft) lot in the heart of St. Pete Beach, steps from the Gulf. The existing 1,704 sq. ft. home includes 3 bedrooms and 2 baths. The backyard is surrounded by mature landscaping, offering exceptional privacy for relaxation or entertaining. The home did take on water during Hurricane Helene, but FEMA has designated it non-substantial damage, meaning you can either remodel the existing structure or build new.
This location offers the best of Florida living-just off Gulf Blvd, minutes to sandy beaches, vibrant restaurants, beach bars, live music, and world-class sunsets.
Highlights:
Private backyard with mature landscaping for exceptional privacy
75' deep-water frontage with dock & seawall
Prime location on Boca Ciega Bay with downtown St. Pete views
Large 10,502 sqft lot (75x140)
Non-substantial FEMA designation-remodel or rebuild
Walk to Corey Avenue, restaurants, shopping, and beaches
Enjoy the Sunday Morning Market on Corey Ave, only 3 blocks away
Priced at land value, sold AS-IS. Whether you're a builder, investor, or dreamer, this is your chance to create your ultimate coastal retreat in one of the most sought-after areas of St. Pete Beach. Paradise awaits!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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About St. Pete Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017