Two-Story Office Building on
For Sale
$2,300,000
Pending
4701 CENTRAL AVENUE A, St Petersburg, FL 33713
Freestanding two-story office building with elevator and ample parking.
Property Size5,168 SF
Lot Size0.34 Acres
Days on Market634
Property Features for 4701 CENTRAL AVENUE A
General Information
Standard status
Pending
Size
5,168 SF
Lot size
0.34 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$20,327
Building Details
Year Built
1973
Listing Agency:
GLOBECORE
(727) 408-0796
Listed By:
David Ansaldi · License #3266185
(727) 408-0796
Source:
Exitrealty
Added: Nov 14, 2024
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 GLOBECORE
Investment Insights
Based on property information with market context.
This two-story freestanding office building is located on Central Avenue, a thoroughfare connecting the Gulf Beaches and Downtown Saint Petersburg. The block building, previously used as a medical practice, sits on three lots over a 1/4 acre. The building offers over 5,000 sq ft of space and 24 parking spots. An elevator is located in the central lobby, with an entrance to the first floor. The building includes office space, conference rooms, kitchens, and seven bathrooms. A large attic is available for storage or additional finished space. The property is suitable for office or mixed-use professionals and is ready for immediate occupancy.
Key Highlights
- Prime Central Avenue location connecting Gulf Beaches and Downtown St. Petersburg.
- 5,000+ sq ft two‑story freestanding block building with elevator.**
- 24 parking spots on a 1/4+ acre lot in St. Petersburg.**
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
$80,240
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
3.49%
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%
$1,604,800
$1.6M
Cap Rate 7%
$1,146,286
$1.1M
Cap Rate 9%
$891,556
$891.6K
Market Conditions
NOI Build-Up for 5,168 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
$134.6K $26.04/SF
− Vacancy
−$27.6K −$5.34/SF
EGI
$107.0K $20.70/SF
− OpEx
−$26.7K −$5.18/SF
NOI
$80.2K $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%
$1,604,800
Cap Rate 7%
$1,146,286
Cap Rate 9%
$891,556
Alternative Uses
Best Use
Office B
$1.15M
$1.00M – $1.34M
NOI $80,240 @ 7.0% cap · market cap 3.49%
Second Best
Healthcare Medical
$680.9K
$595.8K – $794.4K
NOI $47,665 @ 7.0% cap · market cap 2.07%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,097 @ 7.0% cap · market cap 4.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,199
Businesses Nearby
Explore this area
Business Placement
Demographics for 33713, FL
31,321
Population
16,192
Households
1.9
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
6.5 sq mi
ZIP Area
4,819
Density / Sq Mi
$69,704
Median Household Income
$43,282
Median Earnings
$1,387
Median Rent
$279,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Freestanding two-story office building with elevator and ample parking.
Where is this office building located?
The property is located at 4701 CENTRAL AVENUE A St Petersburg, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Prime Central Avenue location connecting Gulf Beaches and Downtown St. Petersburg.; 5,000+ sq ft two‑story freestanding block building with elevator.**; 24 parking spots on a 1/4+ acre lot in St. Petersburg.**
