Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4950 1St Ave N St Petersburg, FL 33710

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $54,336

    Turnkey restaurant/cafe space in a dynamic St. Petersburg neighborhood.

    Lot size:
    0.11 Acres

    Property Features for 4950 1St Ave N

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.11 Acres

    Building Details

    Year built
    1951

    We can help!

    Listing Contact
    Michael Schultz
    Source: Elliman

    Listing Agent: Michael Schultz

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Renovated Restaurant/Cafe Space Ready 2026

    This 1,430 square foot restaurant or cafe space, with an additional 250 square foot outdoor dining area, is located in a dynamic and growing neighborhood of St. Petersburg. The property is undergoing a complete renovation and will be delivered in early 2026 as a modern, turnkey-ready property designed for food and beverage operators. The conceptual design includes a bar area, open dining space, two restrooms, and storage/utility space. It features a new roof, HVAC system, updated electrical and plumbing, and a refreshed interior and exterior. Illuminated signage is available on 1st Avenue North, and there are nine on-site parking spaces, including ADA-compliant access. The property will be delivered as a fully upgraded vanilla shell, ready for the tenant’s custom FF&E. Positioned at the crossroads of Central Oak Park and Live Oak, it is located minutes from Downtown St. Pete, the Gulfport Arts District, Treasure Island, and Madeira Beach, with easy access to U.S. 19 and I-275. It is adjacent to the SunRunner rapid bus line. This location is suitable for specialty coffee shops, artisan bakeries, destination cafes, or unique dining concepts. The property's location ensures easy access for local residents.
    Location Intelligence

    Current Use by Public Records

    Coffee shops

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    Carefree Catering Inc, Bay Area Catering & Events

    Location Insight

    • Map
    • Local Demand
    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.701004
    Latitude
    27.7715341

    Nearby Similar for Lease

    • New
      $3,100 /Mo
      1,600 SF

      Prime Office Space in St. Pete

      Freestanding office building with high visibility and ample parking.
      6465 1St Ave S, St Petersburg, FL 33707
      View Details
    • New
      $30 SF/Yr
      1,415 SF

      Corner Office Suite in St. Petersburg

      Spacious corner office suite in a sought-after commercial area.
      5001 4Th St N, St Petersburg, FL 33703
      View Details
    • $4,125 /Mo
      4,500 SF

      Remodeled Office Suite in St. Petersburg

      Professional office suite with modern finishes and functional layout.
      2548 30Th Ave N, St Petersburg, FL 33713
      View Details
    • $8,000 /Mo
      4,500 SF

      Remodeled Mixed-Use Building For Rent

      Remodeled mixed-use building with office and warehouse space for rent.
      2548 30Th Ave N, St Petersburg, FL 33713
      View Details
    • $450 /Mo
      4,500 SF

      Updated Office Suite with Warehouse

      Modern office suite with warehouse, flexible leasing options available.
      2548 30Th Ave N, St Petersburg, FL 33713
      View Details
    • $5,000 /Mo
      1,788 SF

      St. Petersburg Boutique Office Space

      Modern office with private suites, updated kitchen, and ample parking.
      3848 Central Ave, St Petersburg, FL 33711
      View Details
    • $3,900 /Mo
      2,700 SF

      Versatile Commercial Space in St. Petersburg

      Commercial space ideal for office, retail, service, or light commercial.
      4022 54Th Ave N, St Petersburg, FL 33714
      View Details
    • $1,875 /Mo
      4,500 SF

      Functional Warehouse Space in St. Petersburg

      1,500 SF warehouse ideal for storage, light manufacturing, or operations.
      2548 30Th Ave N, St Petersburg, FL 33713
      View Details
    • $1,500 /Mo
      3,079 SF

      Renovated Mixed-Use Commercial Space

      Newly renovated mixed-use commercial space in St. Petersburg, Florida.
      313 18Th Ave S, St Petersburg, FL 33705
      View Details
    • $14 SF/Yr
      2,385 SF

      Renovated Warehouse Near I-275

      Recently renovated warehouse with office space, convenient highway access.
      11920 31St Ct N, St Petersburg, FL 33716
      View Details
    • $20 SF/Yr
      8,681 SF

      Prime Central Avenue Mixed-Use Space

      Four units available in a high-traffic St. Petersburg location.
      4200 Central Ave S, St Petersburg, FL 33711
      View Details
    • $29 SF/Yr
      3,784 SF

      Class A Office Space

      Upscale office building in Carillon/Gateway area of St. Petersburg.
      12450 Roosevelt Blvd N, St Petersburg, FL 33716
      View Details

    FAQs

    What type of property is this?
    Restaurant - Turnkey restaurant/cafe space in a dynamic St. Petersburg neighborhood.
    Where is this restaurant located?
    The property is located at 4950 1St Ave N St Petersburg, FL.
    What is the lease rate?
    The lease rate is $54,336.
    What are key features of this property?
    This property features: - Prime Location: Situated in a dynamic, growing neighborhood at the crossroads of Central Oak Park and Live Oak, with easy access to Downtown St. Pete, Gulfport Arts District, and beaches.; - Turnkey-Ready Space: Delivered in early 2026 as a fully renovated, modern, and upgraded vanilla shell, ready for tenant's custom FF&E.; - **High Visibility & Accessibility**: Illuminated signage on 1st Ave N, nine on-site parking spaces (including ADA), and adjacent to the SunRunner rapid bus line.
    (727) 463-2274
    Request Owner's contact information
    4950 1St Ave N St Petersburg, FL 33710
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4950 1St Ave N
    St Petersburg, FL 33710
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    4950 1St Ave N St Petersburg, FL 33710
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael Schultz
    (727) 463-2274 (813) 586-0654
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!