Turnkey Medical Office with Exam
For Sale
$920,000
1152 62ND Avenue S, St Petersburg, FL 33705
SINGLE_FAMILY - ST PETERSBURG, FL
Property Size2,496 SF
Lot Size0.23 Acres
Price / SF$368.59
Days on Market172
Property Features for 1152 62ND Avenue S
General Information
Property type
Residential
Property subtype
Office
Subdivision
KORTSCHS WEDGEWOOD PARK TR A PT REP
Lot features
City Limits
Directions
I 275 South. to exit 17 onto FL 682 West toward 54th Avenue South. Left to 54th Avenue South. Left FL 682/Pinellas Bayway. Turn right onto 16th Street South. Turn left onto 62nd Avenue South. Building on the right hand side.
Standard status
Active
APN
12-32-16-47070-000-0070
Size
2,496 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
KORTSCH'S WEDGEWOOD PARK TRACT 'A' PARTIAL REPLAT LOT 7 AND W 15FT OF LOT 6
Tax Annual Amount
4794
Legal Description
KORTSCH'S WEDGEWOOD PARK TRACT 'A' PARTIAL REPLAT LOT 7 AND W 15FT OF LOT 6
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Building materials
Block
Roof type
Shingle
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
Caroline Hanna · License #3177435
(727) 667-8377
Added: Feb 25
Changed: Jul 20
Last Checked: Aug 16 at 2:06PM
MLS# TB8471864
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully built-out medical office is designed for day-to-day patient care and efficient operations. The interior includes 8 exam rooms, a dedicated lab room, a comfortable break room, and 3 restrooms. With 3 entry doors, the space can be subdivided up to 3 different offices or businesses, providing flexibility for a range of practice sizes.
The property includes 12 on-site parking spaces for patients and staff, along with a private pylon sign for visibility and street presence. The roof was replaced in 2016.
Located in South St. Petersburg with convenient access to major roadways, the building is positioned to serve healthcare users and may also be suitable as executive offices for non-healthcare related businesses, depending on fit and configuration.
The property includes 12 on-site parking spaces for patients and staff, along with a private pylon sign for visibility and street presence. The roof was replaced in 2016.
Located in South St. Petersburg with convenient access to major roadways, the building is positioned to serve healthcare users and may also be suitable as executive offices for non-healthcare related businesses, depending on fit and configuration.
Key Highlights
- Fully built‑out medical office with 8 exam rooms, dedicated lab room, break room, and 3 restrooms
- 3 entry doors allow subdividing into up to 3 different offices or businesses
- Central heat and central air; block construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,754
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$775,080
$775.1K
Cap Rate 7%
$553,629
$553.6K
Cap Rate 9%
$430,600
$430.6K
Market Conditions
NOI Build-Up for 2,496 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$65.0K $26.04/SF
− Vacancy
−$13.3K −$5.34/SF
EGI
$51.7K $20.70/SF
− OpEx
−$12.9K −$5.18/SF
NOI
$38.8K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$775,080
Cap Rate 7%
$553,629
Cap Rate 9%
$430,600
Alternative Uses
Best Use
Office B
$553.6K
$484.4K – $645.9K
NOI $38,754 @ 7.0% cap · market cap 4.21%
Second Best
Healthcare Medical
$328.9K
$287.8K – $383.7K
NOI $23,021 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$649.2K
$568.1K – $757.4K
NOI $45,446 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33705, FL
27,915
Population
15,171
Households
1.8
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
4,985
Density / Sq Mi
$70,783
Median Household Income
$40,370
Median Earnings
$1,457
Median Rent
$321,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully built-out medical office offering multiple exam rooms, lab space, and on-site parking.
Where is this medical office space located?
The property is located at 1152 62ND Avenue S St Petersburg, FL.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: Fully built‑out medical office with 8 exam rooms, dedicated lab room, break room, and 3 restrooms; 3 entry doors allow subdividing into up to 3 different offices or businesses; Central heat and central air; block construction
