Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historical Building at Sponge Dock Title is generated by Realmo AI

    501 ATHENS STREET, Tarpon Springs, FL 34689

    View on Map
    Claim this Listing
    For Lease
    $26,400 SF/Yr $6,496,600/Mo (calc)

    Historical building available for lease at the World Famous Sponge Dock.

    Type:Rental
    Property size:
    2,953 SF
    Lot size:
    0.11 Acres
    Added:
    Nov 29, 2021
    Days on Market:
    1643
    Last Refresh:
    May 19 at 9:52 pm

    Property Features for 501 ATHENS STREET

    General Information

    Standard status
    Active
    Size
    2,953 SF
    Lot size
    0.11 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1908

    We can help!

    Listing Contact
    Artemis Kousathanas

    Listing agent Artemis Kousathanas License #699268

    Listing office FLORIDA PREMIERE REALTY

    Listing date Nov 29, 2021

    Source Exitrealty

    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 FLORIDA PREMIERE REALTY

    HighLights

    • Located at the World Famous Sponge Dock
    • Historical building in Tarpon
    • Over 2100sf of open floor space
    • Previously used as a traditional Greek coffee house
    • Includes Men's and Women's bathrooms
    • Small kitchen area

    Overview

    Available for lease is a historical building located at the World Famous Sponge Dock. The property, with a size of 2953 square feet, has been used as a traditional Greek coffee house for decades. It offers just over 2100 square feet of open floor space, along with men's and women's bathrooms and a small kitchen area. This location presents a special opportunity for various business uses.
    Property Profile 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 Pharmacy

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

    Similar Places Nearby

    • The Bayou Cafe — 118 E Court St, Tarpon Springs, FL 34689
    • Impact House Nutrition — 35 W Lime St, Tarpon Springs, FL 34689
    • Urban Grounds — 150 E Tarpon Ave, Tarpon Springs, FL 34689
    • Copenhagen Café — 15 N Pinellas Ave, Tarpon Springs, FL 34689
    • Fuel Bar on Lime — 35 w lime st, tarpon springs, fl 34689

    Location Insight

    • Map
    • Local Demand
    City
    Tarpon Springs
    County
    Pasco
    State
    Florida
    Longitude
    -82.7603985
    Latitude
    28.1540945

    Nearby Similar for Lease

    • $117,240 SF/Yr
      5,489 SF

      Remodeled Retail Plaza on US Highway

      Remodeled retail spaces available on a high-traffic corridor.
      39930 US HIGHWAY 19 N 39930, Tarpon Springs, FL 34689
      View Details
    • $38,448 SF/Yr
      5,489 SF

      Remodeled Retail Plaza on US Highway

      Remodeled retail spaces with high visibility and traffic.
      39920 US HIGHWAY 19 N 39920, Tarpon Springs, FL 34689
      View Details
    • $144,000 SF/Yr
      12,000 SF

      Tarpon Springs Warehouse with Spray Booth

      Flexible warehouse space with paint spray booth, ideal for auto repair.
      1468 L AND R INDUSTRIAL Blvd Bldg. B, Tarpon Springs, FL 34689
      View Details
    • $55,000 SF/Yr
      5,000 SF

      Tarpon Springs Flex Space Available

      5,000 SF flex space in Tarpon Springs, Florida.
      40349 US HIGHWAY 19 N 308, Tarpon Springs, FL 34689
      View Details
    • $117,240 SF/Yr
      5,489 SF

      Remodeled Retail Plaza on US Highway

      Remodeled retail spaces available on high-traffic US Highway 19.
      39930-39930 Us Highway 19 N, Tarpon Springs, FL
      View Details
    • $240,000 SF/Yr
      20,000 SF

      Tarpon Springs Warehouse with Paint Booth

      20,000 SF warehouse with office, paint booth, and storage.
      1500 L AND R INDUSTRIAL Blvd D, Tarpon Springs, FL 34689
      View Details
    • $38,448 SF/Yr
      1,800 SF

      Remodeled Retail Plaza on US Highway

      Remodeled retail spaces available on high-traffic US Highway 19.
      39920-39920 Us Highway 19 N, Tarpon Springs, FL
      View Details
    • $12,000/Mo

      Tarpon Avenue Professional Office Space

      Turnkey office space with shared amenities in a visible location.
      600 E TARPON Ave, Tarpon Springs, FL 34689
      View Details
    • $13 SF/Yr
      800 SF

      Professional Office Space Available

      800 SF office space in Tarpon Professional Center.
      1501 S Pinellas Ave, Tarpon Springs, FL
      View Details
    • $90,608 SF/Yr

      Newly Renovated Professional Office Space

      Class A office space near Advent Health North Pinellas Hospital.
      1200 S PINELLAS Ave, Tarpon Springs, FL 34689
      View Details
    • $1,000/Mo
      600 SF

      Retail/Office Space on US Hwy

      Two 600 SF units available in well-maintained Tarpon Springs center.
      40417 US Hwy 19 N, Tarpon Springs, FL
      View Details
    • $11 SF/Yr
      2,734 SF

      Freestanding One-Story Building For Rent

      One-story, 2,734 SF building for rent on Belcher Rd.
      Belcher Rd, Tarpon Springs, FL
      View Details

    FAQs

    What type of property is this?
    Coffee shop - Historical building available for lease at the World Famous Sponge Dock.
    Where is this coffee shop located?
    The property is located at 501 ATHENS STREET Tarpon Springs, FL.
    What is the lease rate?
    The lease rate is $26,400.
    What are key features of this property?
    This property features: Located at the World Famous Sponge Dock; Historical building in Tarpon; Over 2100sf of open floor space
    (727) 514-0354
    We can help!
    Listing Contact
    Artemis Kousathanas
    Real Estate License ID: 699268
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    501 ATHENS STREET, TARPON SPRINGS, FL 34689
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!