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    Saint Petersburg Industrial Building For Sale Title is generated by Realmo AI

    3051 Tech Dr, Saint Petersburg, FL 33716

    View on Map
    For Sale
    $11,250,000

    Flexible two-story building 85,558 rentable SF on 4.22 AC

    Property size:
    85,558 SF
    Lot size:
    4.22 Acres
    Price / SF:
    $131/SF
    Added:
    Jan 13, 2025
    Days on Market:
    503
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 3051 Tech Dr

    General Information

    Standard status
    Active
    Property type
    Other industrial properties, Industrial live-work properties, Warehouses, Industrial properties, Mixed-use properties
    Size
    85,558 SF
    Net Rentable
    85,558 SF
    Class
    C
    Elevators
    N/A
    Lot size
    4.22 Acres
    Sale Condition
    Lease Option
    Investment Type
    Owner User

    Building Details

    Year Built
    1980
    Year Renovated
    2022
    Stories
    2

    We can help!

    Listing Contact
    Bruce Vaughan

    Listing agent Bruce

    Listing office

    Listing date Jan 13, 2025

    Overview

    This two-story industrial building offers 85,558 square feet of rentable space on a 4.22-acre lot in Saint Petersburg, Florida. The property is located in close proximity to major roadways including Ulmerton Road, I-275, Roosevelt Boulevard, US 19, and Highway 60. Its location within Pinellas County provides visibility and exposure from Ulmerton Road, near Tampa Bay's largest employers in the Carillon and Feather Sound business districts. The building features a flexible and divisible design, a new TPO roof installed in 2020, 2,000 amps of 480 volt 3-phase electrical service, and is fully air conditioned. Loading is facilitated by two drive-in ramps and two dock-high doors, with the potential for additional overhead doors. The E-1 zoning allows for office, showroom, research and development, light manufacturing, and production uses. The property is located near St. Petersburg/Clearwater International and Tampa International airports, a skilled workforce, bay bridges, and numerous hotels, restaurants, and professional services within Carillon and Feather Sound. This property presents an opportunity to acquire a substantial, well-maintained property in a thriving business environment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Elite Restoration St ... Hardware & Home Improvement Full Restoration Pros ... Hardware & Home Improvement Essential Restoration Services Hardware & Home Improvement

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.676517
    Latitude
    27.89272

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    FAQs

    What type of property is this?
    Industrial property - Flexible two-story building 85,558 rentable SF on 4.22 AC
    Where is this industrial property located?
    The property is located at 3051 Tech Dr Saint Petersburg, FL.
    What is the asking price?
    The asking price for this property is $11,250,000.
    (813) 810-5135
    We can help!
    Listing Contact
    Bruce Vaughan
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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