Two-Story Office
For Sale
$790,000
7321 1ST Avenue S, St Petersburg, FL 33707
SINGLE_FAMILY - ST PETERSBURG, FL
Property Size1,825 SF
Lot Size0.17 Acres
Price / SF$432.88
Days on Market196
Property Features for 7321 1ST Avenue S
General Information
Property type
Residential
Property subtype
Office
Window features
Blinds
Subdivision
DAVISTA REV MAP OF
Lot features
Landscaped, Sidewalk, Paved
Directions
Park St N St. Petersburg, FL 33710 Head toward Central Ave N 344 ft Turn left onto 1st Ave S Destination will be on the left
Standard status
Active
APN
19-31-16-20484-042-0100
Size
1,825 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
DAVISTA, REV MAP OF BLK 42, LOT 10
Tax Annual Amount
7221
Legal Description
DAVISTA, REV MAP OF BLK 42, LOT 10
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Water source
Public
Amenities
fenced outdoor storage
indoor storage areas
lobby/reception area
bonus space
Building Details
Year built
1979
Flooring type
Vinyl, Tile, Carpet
Building materials
Block, Stucco
Listing Agency:
RE/MAX ACTION FIRST OF FLORIDA · RE/MAX International
(727) 531-2006
Listed By:
David Crawford · License #3422506
(727) 777-0328
Added: Jan 28
Changed: Aug 9
Last Checked: Aug 12 at 9:06PM
MLS# TB8470111
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.
The existing 1,825-square-foot office building was constructed in 1979 and occupies a 0.17-acre lot. Its two-story layout includes four office spaces, two bathrooms, a lobby and reception area, plus an industrial two-car garage with high ceilings. The property also supports indoor storage, fenced outdoor storage, and an upstairs bonus area. Block and stucco construction, vinyl, tile, and carpet flooring, central electric heating, public water, public sewer, and available electricity are documented.
The site is zoned CRT-1 and sits along a bike trail, one block from Sunset Park and the Treasure Island Causeway. The property is near beaches, the St. Pete Pier, restaurants, and retail. Two contiguous 0.17-acre lots may be acquired with the building, creating a combined 0.54-acre assemblage. Approved plans for all three lots contemplate 12 three-story townhomes and require demolition of the existing building.
The site is zoned CRT-1 and sits along a bike trail, one block from Sunset Park and the Treasure Island Causeway. The property is near beaches, the St. Pete Pier, restaurants, and retail. Two contiguous 0.17-acre lots may be acquired with the building, creating a combined 0.54-acre assemblage. Approved plans for all three lots contemplate 12 three-story townhomes and require demolition of the existing building.
Key Highlights
- 1,825 SF two‑story office building on a 0.17‑acre lot
- Four office spaces, two bathrooms, lobby, and reception area
- Industrial two‑car garage with high ceilings
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
$28,336
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
3.59%
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%
$566,720
$566.7K
Cap Rate 7%
$404,800
$404.8K
Cap Rate 9%
$314,844
$314.8K
Market Conditions
NOI Build-Up for 1,825 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
$47.5K $26.04/SF
− Vacancy
−$9.7K −$5.34/SF
EGI
$37.8K $20.70/SF
− OpEx
−$9.4K −$5.18/SF
NOI
$28.3K $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%
$566,720
Cap Rate 7%
$404,800
Cap Rate 9%
$314,844
Alternative Uses
Best Use
Office B
$404.8K
$354.2K – $472.3K
NOI $28,336 @ 7.0% cap · market cap 3.59%
Second Best
Warehouse
$219.6K
$192.1K – $256.2K
NOI $15,369 @ 7.0% cap · market cap 1.95%
Theoretical Best
Office A
$474.7K
$415.4K – $553.8K
NOI $33,229 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
4
Office units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,509
Businesses Nearby
Explore this area
Business Placement
Demographics for 33707, FL
24,646
Population
16,579
Households
1.5
Avg Household Size
58
Median Age
40%
College-Educated
95%
High-School Grad
5.3 sq mi
ZIP Area
4,650
Density / Sq Mi
$68,560
Median Household Income
$45,513
Median Earnings
$1,512
Median Rent
$344,600
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?
Office building - Commercial office property with a high-ceiling garage, storage capacity, and flexible upstairs bonus space.
Where is this office building located?
The property is located at 7321 1ST Avenue S St Petersburg, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 1,825 SF two‑story office building on a 0.17‑acre lot; Four office spaces, two bathrooms, lobby, and reception area; Industrial two‑car garage with high ceilings
