Walkable Retail
For Sale
$1,350,000
350 COREY Avenue, St Pete Beach, FL 33706
Commercial Sale, ST PETE BEACH, FL
Property Size3,958 SF
Lot Size0.22 Acres
Price / SF$341.08
Days on Market147
Property Features for 350 COREY Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Subdivision
ST PETERSBURG BEACH REP
Directions
The most direct route is usually I-375 W to I-275 S, taking Exit 17 (62nd Ave S) toward Pinellas Bayway (FL-682 W) to Corey Avenue.
Standard status
Active
APN
36-31-15-77994-054-0040
Size
3,958 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ST PETERSBURG BEACH REPLAT BLK 54, LOTS 3 & 4 LESS NE'LY 5FT THEREOF & SE'LY 7.5FT OF LOT 3 FOR ALLEY
Tax Annual Amount
12412
Legal Description
ST PETERSBURG BEACH REPLAT BLK 54, LOTS 3 & 4 LESS NE'LY 5FT THEREOF & SE'LY 7.5FT OF LOT 3 FOR ALLEY
Utilities
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
1
Building materials
Block
Listing Agency:
KELLER WILLIAMS ST PETE REALTY · Keller Williams Realty
(727) 894-1600
Listed By:
Lou Zabriski · License #SL3299971
(727) 288-6158
Added: Apr 9
Changed: Aug 26
Last Checked: Sep 2 at 4:06AM
MLS# TB8495430
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 3,958-square-foot storefront property was built in 1940 and features block construction with central air. The building is occupied by Vaughn Law and Elizabeth's Boutique, creating a two-tenant mix within a walkable retail corridor. Rear parking supports day-to-day tenant and visitor access.
The property is situated on Corey Avenue in St. Pete Beach, within the City's Town Center zoning district. The surrounding commercial district includes restaurants, shops, and neighborhood-serving businesses, with pedestrian activity associated with recurring community events and the Corey Avenue Sunday Market. The nearby Beach Theatre and proximity to the beach contribute to the area's destination-oriented character.
Any future development or change of use remains subject to applicable approvals and verification of zoning, land use, density, height, and development potential.
The property is situated on Corey Avenue in St. Pete Beach, within the City's Town Center zoning district. The surrounding commercial district includes restaurants, shops, and neighborhood-serving businesses, with pedestrian activity associated with recurring community events and the Corey Avenue Sunday Market. The nearby Beach Theatre and proximity to the beach contribute to the area's destination-oriented character.
Any future development or change of use remains subject to applicable approvals and verification of zoning, land use, density, height, and development potential.
Key Highlights
- 3,958‑square‑foot storefront property built in 1940
- Leased to Vaughn Law and Elizabeth's Boutique
- Rear parking serves tenants and visitors
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
$38,858
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
2.88%
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%
$777,160
$777.2K
Cap Rate 7%
$555,114
$555.1K
Cap Rate 9%
$431,756
$431.8K
Market Conditions
NOI Build-Up for 3,958 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
$59.4K $15.00/SF
− Vacancy
−$3.9K −$0.98/SF
EGI
$55.5K $14.03/SF
− OpEx
−$16.7K −$4.21/SF
NOI
$38.9K $9.82/SF
Area
Pinellas County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$777,160
Cap Rate 7%
$555,114
Cap Rate 9%
$431,756
Alternative Uses
Best Use
Retail
$555.1K
$485.7K – $647.6K
NOI $38,858 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$900.8K – $1.20M
NOI $72,065 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
974
Businesses Nearby
36k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 27%
Home Improvements & Furnishings 15%
Apparel 5%
McDonald's
Dining
12,145 visits/mo
0.2 miles
Waffle House
Dining
5,910 visits/mo
0.2 miles
Exxon
Shops & Services
4,824 visits/mo
0.1 miles
Crowder Bros. Hardware
Home Improvements & Furnishings
3,658 visits/mo
0.1 miles
Bank of America
Shops & Services
2,883 visits/mo
0.2 miles
Demographics for 33706, FL
15,309
Population
14,199
Households
1.1
Avg Household Size
60
Median Age
54%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,138
Density / Sq Mi
$97,364
Median Household Income
$80,504
Median Earnings
$1,646
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Leased street-level retail asset with rear parking and two established occupants.
Where is this storefront property located?
The property is located at 350 COREY Avenue St Pete Beach, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 3,958‑square‑foot storefront property built in 1940; Leased to Vaughn Law and Elizabeth's Boutique; Rear parking serves tenants and visitors
