Warehouse For
For Sale
Contact for pricing
12105 28th Street, St Petersburg, FL 33716
Warehouse property available for sale with 15,080 square feet.
Property Size15,080 SF
Price / SF$179
Days on Market69
Property Features for 12105 28th Street
General Information
Standard status
Active
Size
15,080 SF
Class
B
Property subtype
Industrial
Zoning
IP1
Building Details
Year Built
1985
Listing Agency:
Rainmaker Commercial Realty Corp
Listed By:
George William · License #FL 3395756
(727) 482-2818
Source:
Crexi
Added: Jun 29
Changed: Sep 4
Last Checked: Sep 4 at 4:50AM
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 Rainmaker Commercial Realty Corp
Investment Insights
Based on property information with market context.
For sale warehouse property located at 12105 28th Street, St. Petersburg, FL 33716. The building offers a total size of 15,080 square feet.
The listing does not provide additional details on unit configuration, loading, office buildout, or condition. Further information would be needed to confirm layout and operational features for a specific use.
Buyers considering warehouse space may want to review the full offering materials to confirm specifications not included in the public remarks.
The listing does not provide additional details on unit configuration, loading, office buildout, or condition. Further information would be needed to confirm layout and operational features for a specific use.
Buyers considering warehouse space may want to review the full offering materials to confirm specifications not included in the public remarks.
Key Highlights
- Warehouse for sale at 12105 N 28th St, Saint Petersburg, FL 33716
- 15,080 sq ft warehouse building
- Built in 1985
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
$126,995
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
4.70%
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%
$2,539,900
$2.5M
Cap Rate 7%
$1,814,214
$1.8M
Cap Rate 9%
$1,411,056
$1.4M
Market Conditions
NOI Build-Up for 15,080 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
$157.4K $10.44/SF
− Vacancy
−$8.0K −$0.53/SF
EGI
$149.4K $9.91/SF
− OpEx
−$22.4K −$1.49/SF
NOI
$127.0K $8.42/SF
Area
Pinellas County, FL
Vacancy
5.10%
Lease Rate
$10.44 /SF/Yr
Expense Ratio
15.00%
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%
$2,539,900
Cap Rate 7%
$1,814,214
Cap Rate 9%
$1,411,056
Alternative Uses
Best Use
Warehouse
$1.81M
$1.59M – $2.12M
NOI $126,995 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.92M
$3.43M – $4.58M
NOI $274,570 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property available for sale with 15,080 square feet.
Where is this warehouse located?
The property is located at 12105 28th Street St Petersburg, FL.
What is the asking price?
The asking price for this property is $2,699,320.
What are key features of this property?
This property features: Warehouse for sale at 12105 N 28th St, Saint Petersburg, FL 33716; 15,080 sq ft warehouse building; Built in 1985
