Auto Repair and Flex
For Sale
$800,000
1254 34TH STREET, St Petersburg, FL 33711
Versatile commercial building with four oversized garage bays suitable for auto repair and light industrial use.
Property Size3,740 SF
Price / SF$213.90
Days on Market1166
Property Features for 1254 34TH STREET
General Information
Standard status
Active
Size
3,740 SF
Property subtype
Retail
Additional Details
Opportunity Zone
Yes
Service Bays
4
Taxes and HOA fees
Annual Taxes
$5,076
Amenities
Central Air
3
85x96
City Road, Asphalt.
Building Details
Year Built
1986
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Latonya Oliver · License #3317238
(727) 851-4443
Source:
Xome
Added: Jun 29, 2023
Changed: Sep 1
Last Checked: Sep 5 at 5:37AM
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 DALTON WADE INC
Investment Insights
Based on property information with market context.
This versatile commercial property includes four oversized garage bays designed for auto repair and tire service, alignments, or light industrial use. The building has remained operational through recent storm seasons, reflecting continued viability. Additional flexibility may be available for a custom business buildout within the existing bay configuration.
The property is positioned on a high-visibility corridor with steady traffic flow, supported by strong frontage. It is located in a federally designated Opportunity Zone and zoned for multiple commercial uses.
For buyers seeking an owner-operator setup or an investment opportunity, the combination of functional bay space and flexible commercial zoning supports a range of compatible uses.
The property is positioned on a high-visibility corridor with steady traffic flow, supported by strong frontage. It is located in a federally designated Opportunity Zone and zoned for multiple commercial uses.
For buyers seeking an owner-operator setup or an investment opportunity, the combination of functional bay space and flexible commercial zoning supports a range of compatible uses.
Key Highlights
- 1986‑built versatile commercial property with 4 oversized garage bays for auto repair, tire service, alignments, or light industrial use
- Central air cooling
- 3 guest facilities
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
$36,717
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
4.59%
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%
$734,340
$734.3K
Cap Rate 7%
$524,529
$524.5K
Cap Rate 9%
$407,967
$408.0K
Market Conditions
NOI Build-Up for 3,740 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
$56.1K $15.00/SF
− Vacancy
−$3.6K −$0.98/SF
EGI
$52.5K $14.03/SF
− OpEx
−$15.7K −$4.21/SF
NOI
$36.7K $9.82/SF
Area
Pinellas County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$734,340
Cap Rate 7%
$524,529
Cap Rate 9%
$407,967
Alternative Uses
Best Use
Retail
$524.5K
$459.0K – $612.0K
NOI $36,717 @ 7.0% cap · market cap 4.59%
Second Best
Industrial
$391.8K
$342.9K – $457.2K
NOI $27,429 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$972.8K
$851.2K – $1.13M
NOI $68,096 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
23k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
10,584 visits/mo
0.5 miles
Mobil
Shops & Services
4,440 visits/mo
0.4 miles
Public Storage
Shops & Services
2,343 visits/mo
0.1 miles
BP
Shops & Services
2,248 visits/mo
0.2 miles
InstaLoan
Shops & Services
1,366 visits/mo
0.0 miles
Demographics for 33711, FL
20,121
Population
9,522
Households
2.1
Avg Household Size
41
Median Age
32%
College-Educated
96%
High-School Grad
4.7 sq mi
ZIP Area
4,281
Density / Sq Mi
$68,295
Median Household Income
$27,156
Median Earnings
$1,819
Median Rent
$253,100
Median Home Value
Market
Vacancy Rate% for Retail 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?
Auto shop - Versatile commercial building with four oversized garage bays suitable for auto repair and light industrial use.
Where is this auto shop located?
The property is located at 1254 34TH STREET St Petersburg, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 1986‑built versatile commercial property with 4 oversized garage bays for auto repair, tire service, alignments, or light industrial use; Central air cooling; 3 guest facilities
