Renovated Structure on Large
1940 7th Avenue South St Petersburg, FL 33712
1940 7th Avenue South, St Petersburg, FL, 33712
$1,690,000
For Sale
$1,690,000
Renovated 10,000 SF structure on 2/3 acre lot.
Property Size11,122 SF
Lot Size0.67 Acres
Price / SF$151.95
Days on Market1536
Property Features for 1940 7th Avenue South
General Information
- Standard status
- Active
- Size
- 11,122 SF
- Lot size
- 0.67 Acres
- Property subtype
- Commercial Sale / Mixed Use
Building Details
- Year Built
- 1964
Listing Agency
LPT REALTY
(727) 415-7044
Listed by
Stephen Friese · License #3331488
(727) 415-7044
Source
Compass
Added: May 4, 2022 Checked: Jul 17 at 4:14 am
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.
The offering is for a renovated 10,000 SF structure on a 2/3 acre lot. The building has undergone a significant reconstruction, with plans and mechanicals available. Construction is nearing completion, and the site is being sold As-Is. The property features a large exterior footprint, including a drive-thru carport on the south side leading to one of the two main entrances. The primary parking lot, located in this area, offers over 20 spaces. A paved area in the southeast corner provides additional parking or an outside terrace. The main entrance is on the west side, featuring a canopy with double doors. The north and east sides each have a roll-up door providing access to the warehouse/garage area. The interior has undergone extensive MEP work, with new drywall and finishes. A document detailing over 33 significant improvements is available. The interior floor plan includes multiple open spaces, offices, workspaces, reception areas, a conference room, restrooms, and a warehouse. The site also includes an area with a full bathroom and kitchen, suitable for a live/work arrangement. Potential uses include office, industrial, retail, and multi-family. The current state of the building is suitable for medical use, spa, showroom warehouse, manufacturing & assembly, brewery, food processing, distillery, and restaurant. The site is also a strong candidate for redevelopment into multi-family housing. Zoning is NSM-1/Neighborhood Suburban Multi-Family - 1, allowing 15 units per acre with 6 additional units for workforce housing, potentially allowing up to 10 units plus 4 for workforce housing. The site is located on 7th Avenue South, easily accessible via 9th Avenue South from lighted intersections at 16th Street South and 22nd Street South, and minutes from downtown dining and shopping districts.
Key Highlights
- Redevelopment potential: Zoned NSM‑1, allowing up to 10 multi‑family units plus 4 workforce housing units.
- 10,000 SF renovated building suitable for office, industrial, retail, medical, and more.
- Prime location on 7th Avenue South, minutes from Downtown dining and shopping districts.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $240.2k | $21.60 |
| − Vacancy | −$19.2k | −$1.73 |
| EGI | $221.0k | $19.87 |
| − OpEx | −$82.9k | −$7.45 |
| NOI | $138.1k | $12.42 |
11,122 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$2.47M
$2.16M – $2.88M
NOI $172,684 @ 7.0% cap · market cap 10.22%
Second Best
Mixed Use
$1.97M
$1.73M – $2.30M
NOI $138,135 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$2.89M
$2.53M – $3.38M
NOI $202,504 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Precision Build & Design
Construction Company
Precision Solar Design
Solar Energy Company
Precision Builds Futures
Charitable Organization
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FAQs
What type of property is this?
Mixed-use property - Renovated 10,000 SF structure on 2/3 acre lot.
Where is this mixed-use property located?
The property is located at 1940 7th Avenue South St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Redevelopment potential: Zoned NSM‑1, allowing up to 10 multi‑family units plus 4 workforce housing units.; **10,000 SF renovated building** suitable for office, industrial, retail, medical, and more.; Prime location on 7th Avenue South, minutes from Downtown dining and shopping districts.
