Two-Building Flex Property on Pinellas
For Sale
$895,000
701 49TH St S, Gulfport, FL 33707
Unique flex property with high traffic and trail frontage.
Property Size4,924 SF
Lot Size0.31 Acres
Price / SF$181.76
Days on Market106
Property Features for 701 49TH St S
General Information
Standard status
Active
Size
4,924 SF
Lot size
0.31 Acres
Property subtype
Commercial
Building Details
Year Built
1969
Listing Agency:
Bridgewater Commercial Real Estate
(727) 641-5736
Listed By:
Dee Maret, Jr · License #3073218
(727) 641-5736
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 7 at 5:06AM
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 Bridgewater Commercial Real Estate
Investment Insights
Based on property information with market context.
This unique two-building flex property is located directly on the Pinellas Trail, with frontage on 49th Street South, the main north-south corridor into Gulfport, which sees approximately 22,000 vehicles per day. The site consists of two concrete block buildings, one with 3,460 square feet and the other with 1,464 square feet, totaling 4,924 square feet. A bonus storage shed also fronts the trail. The property is situated on a 0.31-acre lot with more than 10 parking spaces. The interior configuration includes multiple small rooms and studios, making it suitable for creative users, multi-tenant concepts, or owner-operators looking to generate multiple income streams. Zoned Commercial General, the property allows for a wide range of uses, including retail, office, personal services, restaurant, warehouse, trade shops, automotive and marine-related uses, and fitness, as well as many conditional uses. The outdoor areas provide functional space for pop-up markets, events, vendor stalls, or customer gathering, which pairs naturally with the heavy pedestrian and cyclist traffic along the Pinellas Trail. With an average of 160,000 trail users per month, this property functions as a destination site, offering visibility to vehicles, cyclists, pedestrians, and local residents. The property is adaptable for creative studios, retail, wellness, trades, or a potential hybrid live-work or market concept.
Key Highlights
- Direct frontage on the Pinellas Trail with approximately 160,000 users per month, offering exceptional visibility.
- High‑traffic location on 49th Street South with approximately 22,000 vehicles per day.
- Two‑building flex property totaling 4,924 SF on a 0.31‑acre lot with 10+ parking spaces.
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
$76,452
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
8.54%
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%
$1,529,040
$1.5M
Cap Rate 7%
$1,092,171
$1.1M
Cap Rate 9%
$849,467
$849.5K
Market Conditions
NOI Build-Up for 4,924 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
$128.2K $26.04/SF
− Vacancy
−$26.3K −$5.34/SF
EGI
$101.9K $20.70/SF
− OpEx
−$25.5K −$5.18/SF
NOI
$76.5K $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%
$1,529,040
Cap Rate 7%
$1,092,171
Cap Rate 9%
$849,467
Alternative Uses
Best Use
Office B
$1.09M
$955.7K – $1.27M
NOI $76,452 @ 7.0% cap · market cap 8.54%
Second Best
Mixed Use
$873.7K
$764.5K – $1.02M
NOI $61,156 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,654 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Explore this area
Business Placement
Demographics for 33707, FL
24,646
Population
16,579
Households
1.5
Avg Household Size
58
Median Age
40%
College-Educated
95%
High-School Grad
5.3 sq mi
ZIP Area
4,650
Density / Sq Mi
$68,560
Median Household Income
$45,513
Median Earnings
$1,512
Median Rent
$344,600
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?
Mixed-use property - Unique flex property with high traffic and trail frontage.
Where is this mixed-use property located?
The property is located at 701 49TH St S Gulfport, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Direct frontage on the Pinellas Trail with approximately 160,000 users per month, offering exceptional visibility.; High‑traffic location on 49th Street South with approximately 22,000 vehicles per day.; Two‑building flex property totaling 4,924 SF on a 0.31‑acre lot with 10+ parking spaces.
