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    8800 Bay Pines Blvd, Unit 306 Saint Petersburg, FL 33709

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    For Sale
    $250,900

    Studio condo with bay views, rental options, and amenities.

    Lot size:
    2.49 Acres

    Property Features for 8800 Bay Pines Blvd

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    2.49 Acres

    Building Details

    Year built
    2005

    We can help!

    Listing Contact
    Kelly De Lima Perez
    Source: Elliman

    Listing Agent: Kelly De Lima Perez

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

    Learn more

    Overview

    Waterfront Condo with Airbnb Potential

    This 310 sqft studio condominium is located in the Boca Ciega Resort & Marina waterfront community. The property is situated on the 3rd floor and features a private balcony with views of Boca Ciega Bay. The condominium has been renovated and is fully furnished, including a bunk bed that can accommodate up to four people. Appliances include a refrigerator, cooktop, dishwasher, and microwave. The unit also has central air conditioning and heat, as well as washer and dryer hookups. The Boca Ciega Resort & Marina offers amenities such as a fitness center, waterfront pool and hot tub, community grills, fishing pier, elevator, library, bike storage, and kayak racks. Carports are available for purchase if available. Ample free parking is available within the community. The property is located less than 10 minutes from Johns Pass/Madeira Beach, 15 minutes from St. Pete Beach, and 30 minutes from Clearwater Beach. It offers easy access to the Pinellas Trail, Gulf of Mexico, Light House Marina, VA Hospital, War Veterans Memorial Park, public docks and boat ramps, shopping, dining, major roads, schools, and churches. Short term rentals are permitted.
    Location Intelligence

    Current Use by Public Records

    Boca Ciega Resort Vacation Rental Boca Ciega Resort ... Travel Agency Boca Ciega Resort ... Travel Agency Boca Ciega Resort, ... Travel Agency Waterfront condos / Condo ... Vacation Rental

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.761895
    Latitude
    27.8121956

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    FAQs

    What type of property is this?
    Short term rental property - Studio condo with bay views, rental options, and amenities.
    Where is this short term rental property located?
    The property is located at 8800 Bay Pines Blvd, Unit 306 Saint Petersburg, FL.
    What is the asking price?
    The asking price for this property is $250,900.
    What are key features of this property?
    This property features: - NO RENTAL RESTRICTIONS: Allows for Airbnb and daily rentals, with potential for high rental income (estimated $40k/year).; - Waterfront Location & Views: Enjoy breathtaking views from your private balcony overlooking Boca Ciega Bay from this 3rd-floor condo.; - Fully Furnished & Renovated: Move-in ready with new appliances and a bunk bed that sleeps 4.
    (407) 501-3896
    Request Owner's contact information
    8800 Bay Pines Blvd, Unit 306 Saint Petersburg, FL 33709
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    Saint Petersburg, FL 33709
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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
    8800 Bay Pines Blvd, Unit 306 Saint Petersburg, FL 33709
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    We can help!
    Listing Contact
    Kelly De Lima Perez
    Real Estate License ID: 3405993
    (407) 501-3896 (407) 963-8083
    Learn more
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