The Inn on Third is housed in a simple, unassuming pale yellow building in a quiet area of downtown St. Petersburg. The entrance is flanked with potted palms and plants shaded by a green awning emblazoned with its hyperbolic name. Interiors are nothing out of the ordinary -- traditional decor includes antique furniture and floral carpets. The small parlor-like lobby has burgundy and cream colors, with a patterned carpet and striped curtains shrouding several large windows complemented by dark wood furniture. There are some round tables surrounded by chairs where guests can take their coffee and tea that is available for free throughout the day, as well as an old-fashioned patterned sofa and matching armchairs clustered around a coffee table. The front desk is partially ensconced by a staircase leading upstairs to rooms on the second floor (there is no elevator available). Hallways at the inn are adorned with vintage furnishings such as a small wooden writing desk and antique drawers, as well as a sparse collection of books lining a shelf.

The inn has a friendly and cozy atmosphere, due largely to its welcoming and helpful owners. Free evening drinks and snacks during the daily happy hour provides for some sociable mixing and mingling with other guests. The inn is geared towards couples and single travelers on a budget, as rooms are not spacious enough to accommodate families.

The Inn on Third is located in downtown St. Petersburg in a residential area across from a modern office building. The waterfront is four blocks away (a 10-minute walk) and the inn is near many restaurants and bars. There are several museums within walking distance, including the Museum of Fine Arts (a seven-minute walk away), the Saint Petersburg Museum of History (an 11-minute walk), as well as the Dali Museum, which is a mile away (a 20-minute walk). Guests wanting to catch a baseball game can do so at the nearby Tropicana Field, which is located a little over a mile away from the inn. There is a trolley stop right outside of the inn, as well as several bus lines around the corner. There is free on-site parking available.

Rooms are simple and traditionally decorated with antique furnishings that include small wooden desks and antique-style dressers. Rooms are small and some guests complain of uncomfortable beds, but modern comforts such as flat-screen TVs, mini-fridges, and Wi-Fi are included. The inn has twin and double rooms, which due to their small size, suit couples and single travelers, but might be too much of a tight squeeze for families. The spaces look a bit aged and furniture shows some signs of wear and tear, but rooms are clean. The inn does not have an elevator, so guests with rooms located on the second floor have to walk up.

Tiny bathrooms have a bit of a retro feel with original black and white tiled flooring and pastel teal and white walls edged in black. Bathrooms have shower/tub combos and are equipped with hair dryers and basic bath products.

The Inn on Third has a lovely, classically decorated lobby where guests can watch TV and enjoy free coffee and tea throughout the day. The inn lacks the typical sort of amenities such as a fitness center or business center, though it does provide a free continental breakfast daily. The inn hosts evening happy hours where guests can enjoy a free glass of wine or beer and snacks while mixing and mingling with other travelers. There is a small outdoor seating area in front of the entrance, though near the street. Free on-site parking is available, and Wi-Fi is free throughout.