The Cove at Loggerhead Marina (10 of 169 Units) — Sale in St. Petersburg, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: St. Petersburg, FL 33712

Photos

The Cove at Loggerhead Marina (10 of 169 Units) — Sale in St. Petersburg, FL, photo 1 of 7
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Investment Figures

Cap rate
3.85%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

A 2016 built, 10-unit condominium portfolio offered at a substantial bulk discount. Located within the gated Cove at Loggerhead Marina, in St. Petersburg, FL — a highly sought-after boating community featuring direct Gulf access, marina amenities and a resort-style waterfront lifestyle Investment Highlights: • A 2016 built, 10-unit condominium portfolio offered at a substantial bulk discount • Opportunity to execute a phased sellout strategy with projected 25%+ returns based on recent individual sales within the Cove at Loggerhead Marina community • This portfolio features modern three-bedroom/two-and-one-half bathrooms ranging from 1,920 to 1,970 sqft each with an attached garage • Within the last 1.5 years, the average (non-waterview) trade within the community was $560,000 • Investors can pursue a phased retail sellout, long-term rental hold, bulk disposition or hybrid strategy • Located within the gated Cove at Loggerhead Marina, a highly sought-after boating community featuring direct Gulf access, marina amenities and a resort-style waterfront lifestyle • Positioned within the desirable Greater Pinellas Point submarket, offering convenient access to Downtown St. Petersburg, Fort De Soto Park, Gulf beaches, Tampa Bay Westshore employment centers and the Sunshine Skyway corridor

Market Context

This multifamily in St. Petersburg, FL is listed for sale. It is offered at an approximate 3.9% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in St. Petersburg, FL — view the full market.

As of Q4 2025, the Tampa multifamily market showed a 10.3% vacancy rate, average asking rents near $1818.00/unit/mo, and cap rates around 5.7%. Source: multiple brokerage reports, Q4 2025.

Its 3.9% asking cap rate is below the Tampa multifamily market average of about 5.7%, reflecting premium pricing relative to comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Tampa?
About 5.7% as of Q4 2025, per multiple brokerage reports.
Is the Tampa multifamily market tightening or softening?
Vacancy is around 10.3% (Q4 2025).

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