Oak Street Exchange Mixed-Use
For Sale
$2,250,000
10787 Oak Street Northeast, St Petersburg, FL 33716
Renovated multi-building property with event, office, training, and hospitality applications on landscaped grounds.
Property Size6,826 SF
Days on Market585
Property Features for 10787 Oak Street Northeast
General Information
Standard status
Active
Size
6,826 SF
Class
B
Property subtype
SPEC-OTH, MU
Zoning
IS
Building Details
Building Size
6,826 SF
Year Built
1985
Buildings
1
Stories
2
Listing Agency:
KW Commercial - Tampa Bay - FL
(727) 894-1600
Listed By:
Harold "Hal" Holder
Source:
Realnex
Added: Jan 23, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial - Tampa Bay - FL
Investment Insights
Based on property information with market context.
Oak Street Exchange is a mixed-use property comprising a 5,376-square-foot main building and two accessory structures on 1.5 acres. The main building includes a first-floor great room, training rooms, studio or office area, three ADA bathrooms, and a hair salon that can be converted to office space. Its second floor contains a gathering area, full kitchen, four offices, and two full bathrooms.
The Derby House adds 1,000 square feet of open interior space and an outdoor area, while the 450-square-foot Carriage House provides an additional open-plan structure with large windows. The accessory buildings sit within a fenced rear yard featuring landscaped outdoor areas, a large deck, and a fire pit. The property is currently used as an event venue and is zoned IS. Plumbing, electrical, HVAC, and roofing upgrades were completed across the structures within the last 24 months.
The Derby House adds 1,000 square feet of open interior space and an outdoor area, while the 450-square-foot Carriage House provides an additional open-plan structure with large windows. The accessory buildings sit within a fenced rear yard featuring landscaped outdoor areas, a large deck, and a fire pit. The property is currently used as an event venue and is zoned IS. Plumbing, electrical, HVAC, and roofing upgrades were completed across the structures within the last 24 months.
Key Highlights
- 5,376 SF main building with great room, training rooms, offices, kitchen, and six bathrooms
- Two accessory buildings: 1,000 SF Derby House and 450 SF Carriage House
- 1.5 acres of landscaped grounds with fenced rear yard, large deck, and fire pit
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
$105,983
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
4.71%
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%
$2,119,660
$2.1M
Cap Rate 7%
$1,514,043
$1.5M
Cap Rate 9%
$1,177,589
$1.2M
Market Conditions
NOI Build-Up for 6,826 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
$177.7K $26.04/SF
− Vacancy
−$36.4K −$5.34/SF
EGI
$141.3K $20.70/SF
− OpEx
−$35.3K −$5.18/SF
NOI
$106.0K $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%
$2,119,660
Cap Rate 7%
$1,514,043
Cap Rate 9%
$1,177,589
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.77M
NOI $105,983 @ 7.0% cap · market cap 4.71%
Second Best
Mixed Use
$1.21M
$1.06M – $1.41M
NOI $84,779 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.78M
$1.55M – $2.07M
NOI $124,285 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 33716, FL
18,023
Population
11,596
Households
1.6
Avg Household Size
35
Median Age
46%
College-Educated
95%
High-School Grad
7.2 sq mi
ZIP Area
2,503
Density / Sq Mi
$73,576
Median Household Income
$45,896
Median Earnings
$1,732
Median Rent
$163,500
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?
Mixed-use property - Renovated multi-building property with event, office, training, and hospitality applications on landscaped grounds.
Where is this mixed-use property located?
The property is located at 10787 Oak Street Northeast St Petersburg, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 5,376 SF main building with great room, training rooms, offices, kitchen, and six bathrooms; Two accessory buildings: 1,000 SF Derby House and 450 SF Carriage House; 1.5 acres of landscaped grounds with fenced rear yard, large deck, and fire pit
