Industrial Warehouse with Outdoor
For Sale
$3,000,000
Pending
5275 95TH N STREET, St Petersburg, FL 33708
11,780 SF industrial warehouse with outdoor storage on 1.5-acres.
Property Size11,780 SF
Lot Size1.50 Acres
Days on Market620
Property Features for 5275 95TH N STREET
General Information
Standard status
Pending
Size
11,780 SF
Lot size
1.50 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$10,894
Building Details
Year Built
1989
Listing Agency:
RIGLER REALTY COMPANY
(727) 421-3457
Listed By:
Tracy Rigler · License #641301
(727) 421-3457
Source:
Exitrealty
Added: Dec 6, 2024
Changed: Aug 8
Last Checked: May 20 at 2:50AM
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 RIGLER REALTY COMPANY
Investment Insights
Based on property information with market context.
This 11,780 square foot industrial manufacturing warehouse offers an exceptional opportunity. Situated on 1.5 acres, the property features 5 industrial warehouse condo units, one of which has been converted into an office space with a 2-bedroom, 2-bathroom condo and a pool. All units are equipped with hurricane shutters, oversized garage doors, and covered parking. A private road leads to a fenced outdoor storage area suitable for boats, RVs, and other vehicles, secured by a coded gate entrance with camera surveillance. The property includes 42 vehicle spots currently rented on a monthly basis. Leaseholds are in place for all tenants in the warehouse condo units. A large pole provides signage opportunities for owners and tenants for marketing and advertising. The property is located in St. Petersburg, Florida and features no flooding.
Key Highlights
- 11,780 sq ft industrial warehouse on 1.5 acres
- 5‑unit industrial warehouse condos with leaseholds in place
- One unit converted to office with 2 bed/2 bath condo and pool
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
$182,900
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
6.10%
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%
$3,658,000
$3.7M
Cap Rate 7%
$2,612,857
$2.6M
Cap Rate 9%
$2,032,222
$2.0M
Market Conditions
NOI Build-Up for 11,780 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
$306.8K $26.04/SF
− Vacancy
−$62.9K −$5.34/SF
EGI
$243.9K $20.70/SF
− OpEx
−$61.0K −$5.18/SF
NOI
$182.9K $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%
$3,658,000
Cap Rate 7%
$2,612,857
Cap Rate 9%
$2,032,222
Alternative Uses
Best Use
Office B
$2.61M
$2.29M – $3.05M
NOI $182,900 @ 7.0% cap · market cap 6.10%
Second Best
Self Storage
$1.56M
$1.37M – $1.82M
NOI $109,243 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,485 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33708, FL
16,034
Population
13,211
Households
1.2
Avg Household Size
60
Median Age
44%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
4,716
Density / Sq Mi
$83,773
Median Household Income
$49,403
Median Earnings
$1,961
Median Rent
$463,700
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - 11,780 SF industrial warehouse with outdoor storage on 1.5-acres.
Where is this warehouse located?
The property is located at 5275 95TH N STREET St Petersburg, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 11,780 sq ft industrial warehouse on 1.5 acres; 5‑unit industrial warehouse condos with leaseholds in place; One unit converted to office with 2 bed/2 bath condo and pool
