Medical Office With Exam
For Sale
$920,000
1152 62nd Avenue S, St Petersburg, FL 33705
Built-out healthcare facility with flexible access points, dedicated support areas, and on-site parking for patients and staff.
Property Size2,528 SF
Price / SF$363.92
Days on Market212
Property Features for 1152 62nd Avenue S
General Information
Standard status
Active
Size
2,528 SF
Total Parking Spaces
12
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$4,794
Amenities
Central Air
3
Building Details
Year Built
1979
Stories
1
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
Caroline Hanna · License #3177435
Source:
Xome
Added: Jan 30
Changed: Aug 30
Last Checked: Aug 30 at 12:46PM
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 CHARLES RUTENBERG REALTY INC
Investment Insights
Based on property information with market context.
This 2,528-square-foot medical office was built in 1979 and includes Central Air. The layout features eight exam rooms, a dedicated lab, a break room, and three restrooms. Three separate entry doors provide the ability to divide the premises among as many as three offices or businesses. The configuration also supports executive office use in addition to healthcare operations.
The property includes 12 on-site parking spaces and a private pylon sign. Its roof was replaced in 2016, adding a documented capital improvement to the building. The address is 1152 62nd Avenue S, St Petersburg, Florida 33705, with access to major roadways in South St. Petersburg.
The property includes 12 on-site parking spaces and a private pylon sign. Its roof was replaced in 2016, adding a documented capital improvement to the building. The address is 1152 62nd Avenue S, St Petersburg, Florida 33705, with access to major roadways in South St. Petersburg.
Key Highlights
- 2,528‑square‑foot medical office at 1152 62nd Avenue S
- Eight exam rooms plus a dedicated lab and break room
- Three entry doors allow subdivision into up to three offices or businesses
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
$39,251
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
4.27%
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%
$785,020
$785.0K
Cap Rate 7%
$560,729
$560.7K
Cap Rate 9%
$436,122
$436.1K
Market Conditions
NOI Build-Up for 2,528 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
$65.8K $26.04/SF
− Vacancy
−$13.5K −$5.34/SF
EGI
$52.3K $20.70/SF
− OpEx
−$13.1K −$5.18/SF
NOI
$39.3K $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%
$785,020
Cap Rate 7%
$560,729
Cap Rate 9%
$436,122
Alternative Uses
Best Use
Office B
$560.7K
$490.6K – $654.2K
NOI $39,251 @ 7.0% cap · market cap 4.27%
Second Best
Healthcare Medical
$333.1K
$291.5K – $388.6K
NOI $23,316 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$657.6K
$575.4K – $767.2K
NOI $46,029 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
588
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 - Built-out healthcare facility with flexible access points, dedicated support areas, and on-site parking for patients and staff.
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: 2,528‑square‑foot medical office at 1152 62nd Avenue S; Eight exam rooms plus a dedicated lab and break room; Three entry doors allow subdivision into up to three offices or businesses
