Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    EDGE District Mixed-Use Building Title is generated by Realmo AI

    1246 Central Avenue, St Petersburg, FL 33705

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Renovated mixed-use building with retail and office space for lease.

    Type:OFC, SCR, SPEC
    Property size:
    24,000 SF
    Added:
    Nov 9, 2023
    Days on Market:
    929
    Last Refresh:
    Apr 3 at 5:04 am

    Property Features for 1246 Central Avenue

    General Information

    Standard status
    Active
    Size
    24,000 SF
    Property subtype
    OFC, SCR, SPEC

    We can help!

    Listing Contact
    Justine Fite

    Listing agent Justine Fite

    Listing office KW Commercial - Tampa Bay - FL

    Listing date Nov 9, 2023

    Source Realnex

    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 KW Commercial - Tampa Bay - FL

    HighLights

    • Prime location in Saint Petersburg's thriving EDGE District on Central Avenue
    • Newly renovated mixed‑use building with ground‑floor retail and loft‑style offices
    • Large office suites available, up to 8,000‑square‑foot contiguous floors
    • Features a 7,000‑square‑foot communal garden
    • Private, access‑controlled elevator
    • Walking distance to Tropicana Field and numerous dining/retail options

    Overview

    Located in Saint Petersburg, Florida's EDGE District, 1246 Central Avenue is a mixed-use commercial building undergoing full renovations. The property, formerly occupied by Furnish Me Vintage, is prominently situated at the corner of Central Avenue and 13th Street. The building contains 24,000 square feet across three floors. With an anticipated delivery date in Q1 2024, the property will feature ground-floor retail space and loft-style offices on the second and third floors. Office suites range from 1,800 square feet and up to two contiguous 8,000-square-foot floors. Efficient floor plans are suitable for creative agencies, professional businesses, and technology firms. Property features include Central Avenue frontage, a 7,000-square-foot communal garden on the ground floor, a private, access-controlled elevator from the street to the office or stairs, and large windows that allow ample natural light into interior spaces. 1246 Central Avenue is adjacent to the brand-new Marriott Moxy Hotel, sharing the communal garden. The property is also within walking distance of Tropicana Field, home of the Tampa Bay Rays, and numerous dining and retail options. Interstates 175, 275, and 375 are accessible within minutes.
    Property Profile Location Intelligence

    Current Use by Public Records

    George M Hicks ... Home Decor Store FMV Living Furniture & Home Goods

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.651642
    Latitude
    27.770746

    Nearby Similar for Lease

    • $1,350/Mo
      8,046 SF

      High-Visibility St. Petersburg Retail Space

      Prime commercial space with high traffic and flexible zoning.
      4201 4TH STREET N, ST PETERSBURG, FL 33703
      View Details
    • $4,470/Mo
      1,788 SF

      St. Petersburg Boutique Office Space

      Modern office with parking, security, and convenient location.
      3848 CENTRAL AVENUE, ST PETERSBURG, FL 33711
      View Details
    • $3,800/Mo
      2,700 SF

      Versatile Commercial Space in St. Petersburg

      Commercial space suitable for office, retail, service, or light commercial.
      4022 54TH AVENUE N, ST PETERSBURG, FL 33714
      View Details
    • $26 SF/Yr
      855 SF

      Prime Retail Space on 4th

      855 SF retail space in a busy St. Petersburg center.
      3185 4TH STREET N, ST PETERSBURG, FL 33704
      View Details
    • $2,950/Mo
      1,600 SF

      St. Petersburg Freestanding Office Building

      Freestanding office building in rapidly expanding St. Petersburg business district.
      6465 1ST AVENUE S, ST PETERSBURG, FL 33707
      View Details
    • $1,500/Mo
      3,079 SF

      Renovated Mixed-Use Commercial Space

      Newly renovated mixed-use commercial space for lease in St. Petersburg.
      313 18TH AVENUE S, ST PETERSBURG, FL 33705
      View Details
    • $20 SF/Yr
      8,681 SF

      Prime Central Avenue Mixed-Use Space

      Four units available in a high-traffic St. Petersburg location.
      4200 CENTRAL AVENUE S, ST PETERSBURG, FL 33711
      View Details
    • $7,000/Mo
      1,800 SF

      Corner Lot with High Visibility

      Corner lot with high visibility, ideal for various commercial uses.
      6180 HAINES ROAD N, ST PETERSBURG, FL 33714
      View Details
    • $12 SF/Yr
      1,700 SF

      High-Visibility Retail/Office Space Available

      Prime St. Pete location with high traffic and flexible layout.
      6480 CENTRAL Ave, St. Petersburg, FL 33707
      View Details
    • $12 SF/Yr
      2,385 SF

      Renovated Warehouse Near I-275

      2,385 SF warehouse with office space, convenient highway access.
      11920 31ST COURT N, ST PETERSBURG, FL 33716
      View Details
    • $23 SF/Yr
      1,415 SF

      Corner Office Suite in St. Petersburg

      Spacious suite ideal for offices, medical, spa, or salon.
      5001 4TH STREET N, ST PETERSBURG, FL 33703
      View Details
    • $3 SF/Yr
      637 SF

      Retail/Office Space on Tyrone Blvd

      637 SF retail or office space available for lease.
      3805 TYRONE Blvd N 3805, St. Petersburg, FL 33709
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Renovated mixed-use building with retail and office space for lease.
    Where is this mixed-use property located?
    The property is located at 1246 Central Avenue St Petersburg, FL.
    What are key features of this property?
    This property features: Prime location in Saint Petersburg's thriving EDGE District on Central Avenue; Newly renovated mixed‑use building with ground‑floor retail and loft‑style offices; Large office suites available, up to **8,000‑square‑foot contiguous floors**
    (214) 232-9595
    We can help!
    Listing Contact
    Justine Fite
    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
    1246 Central Avenue, St. Petersburg, FL 33705
    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!