Commercial Property with High
For Sale
$999,000
4900 66TH N STREET, St Petersburg, FL 33709
Prime location with existing infrastructure and high traffic count.
Property Size6,937 SF
Lot Size0.39 Acres
Price / SF$144.01
Days on Market930
Property Features for 4900 66TH N STREET
General Information
Standard status
Active
Size
6,937 SF
Lot size
0.39 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$13,321
Building Details
Year Built
1953
Listing Agency:
LPT REALTY
(727) 439-3485
Listed By:
Angie Haddon · License #3313881
(727) 439-3485
Source:
Exitrealty
Added: Jan 29, 2024
Changed: Aug 8
Last Checked: Aug 8 at 6:27AM
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 LPT REALTY
Investment Insights
Based on property information with market context.
This commercial property, located just south of the intersection of Park Blvd and 66th Street in Pinellas County, offers a commercial opportunity with C-2 zoning. The property is exposed to 66th Street, providing publicity for a business. The two existing buildings are in working order, including one with a drive-up window. The property includes two full-service bars, a walk-in cooler, two dance floors, and a large main stage with DJ booths. These features could be incorporated into an existing business. The 6,937 square foot property has over 40 parking spaces and a drive-through front entrance. With over 50,000 drivers passing by daily, this location can support a restaurant, bar, or a variety of industries. The property is 35 minutes from SoHo & Ybor City Tampa, 16 minutes from downtown St. Pete, and 12 minutes from St. Pete Beach.
Key Highlights
- High‑traffic location on 66th Street with over 50,000 daily drivers.
- C‑2 zoning on over a third of an acre allows for diverse business opportunities.
- Existing infrastructure includes two buildings, one with a drive‑up window.
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
$77,105
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
7.72%
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%
$1,542,100
$1.5M
Cap Rate 7%
$1,101,500
$1.1M
Cap Rate 9%
$856,722
$856.7K
Market Conditions
NOI Build-Up for 6,937 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
$108.2K $15.60/SF
− Vacancy
−$5.4K −$0.78/SF
EGI
$102.8K $14.82/SF
− OpEx
−$25.7K −$3.70/SF
NOI
$77.1K $11.11/SF
Area
Pinellas County, FL
Vacancy
5.00%
Lease Rate
$15.60 /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%
$1,542,100
Cap Rate 7%
$1,101,500
Cap Rate 9%
$856,722
Alternative Uses
Best Use
Specialty Retail
$1.10M
$963.8K – $1.29M
NOI $77,105 @ 7.0% cap · market cap 7.72%
Second Best
Retail
$972.9K
$851.3K – $1.14M
NOI $68,104 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$1.80M
$1.58M – $2.11M
NOI $126,306 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
161k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Home Improvements & Furnishings 23%
Dining 22%
Groceries 14%
RaceTrac
Shops & Services
28,794 visits/mo
0.4 miles
At Home
Home Improvements & Furnishings
20,432 visits/mo
0.3 miles
Harbor Freight Tools
Home Improvements & Furnishings
15,882 visits/mo
0.2 miles
Sprouts Farmers Market
Groceries
15,179 visits/mo
0.3 miles
Dunkin' Donuts
Dining
13,371 visits/mo
0.3 miles
Demographics for 33709, FL
27,026
Population
13,767
Households
2
Avg Household Size
50
Median Age
19%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
5,299
Density / Sq Mi
$52,621
Median Household Income
$35,488
Median Earnings
$1,317
Median Rent
$190,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Prime location with existing infrastructure and high traffic count.
Where is this bar & pub located?
The property is located at 4900 66TH N STREET St Petersburg, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: High‑traffic location on 66th Street with over 50,000 daily drivers.; C‑2 zoning on over a third of an acre allows for diverse business opportunities.; Existing infrastructure includes two buildings, one with a drive‑up window.
