Corner Storefront with 800-Amp
New
For Sale
$492,000
Pending
1601 5TH N, St Petersburg, FL 33713
Corner commercial space near downtown St. Petersburg with substantial electrical capacity and access to multiple transportation modes.
Property Size2,768 SF
Days on Market3
Property Features for 1601 5TH N
General Information
Standard status
Pending
Size
2,768 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Asking Price
$495,000
Taxes and HOA fees
Annual Taxes
$5,477
Building Details
Building Size
2,768 SF
Year Built
1929
Listing Agency:
SCRIBANO & ASSOC INC
Listed By:
George Scribano · License #3001430
(727) 893-4663
Source:
Elliman
Added: Sep 6
Last Checked: Sep 6 at 2:40PM
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 SCRIBANO & ASSOC INC
Investment Insights
Based on property information with market context.
This storefront property was built in 1929 and occupies the corner of 5th Ave. North and 16th St. North in St. Petersburg. The building includes 800 Amp electrical service, supporting a range of commercial retail applications subject to applicable approvals.
The property is positioned near downtown St. Petersburg, with an I-275 ramp located two blocks away. Walk Score is 87, Bike Score is 73, and Transit Score is 43, reflecting walkable access, bike-friendly conditions, and available transit service in the surrounding area.
The property is positioned near downtown St. Petersburg, with an I-275 ramp located two blocks away. Walk Score is 87, Bike Score is 73, and Transit Score is 43, reflecting walkable access, bike-friendly conditions, and available transit service in the surrounding area.
Key Highlights
- 800 Amp electrical service
- Corner position at 5th Ave. North and 16th St. North
- I‑275 ramp two blocks away
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
$27,175
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
5.52%
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%
$543,500
$543.5K
Cap Rate 7%
$388,214
$388.2K
Cap Rate 9%
$301,944
$301.9K
Market Conditions
NOI Build-Up for 2,768 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
$41.5K $15.00/SF
− Vacancy
−$2.7K −$0.98/SF
EGI
$38.8K $14.03/SF
− OpEx
−$11.6K −$4.21/SF
NOI
$27.2K $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%
$543,500
Cap Rate 7%
$388,214
Cap Rate 9%
$301,944
Alternative Uses
Best Use
Retail
$388.2K
$339.7K – $452.9K
NOI $27,175 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$720.0K
$630.0K – $840.0K
NOI $50,399 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,503
Businesses Nearby
148k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 36%
Beauty & Spa 1%
Electronics 1%
Shell
Shops & Services
20,111 visits/mo
0.4 miles
Panera Bread
Dining
13,203 visits/mo
0.2 miles
7-Eleven
Shops & Services
11,716 visits/mo
0.5 miles
Carrabba's Italian Grill
Dining
11,485 visits/mo
0.3 miles
CAVA
Dining
11,318 visits/mo
0.2 miles
Demographics for 33713, FL
31,321
Population
16,192
Households
1.9
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
6.5 sq mi
ZIP Area
4,819
Density / Sq Mi
$69,704
Median Household Income
$43,282
Median Earnings
$1,387
Median Rent
$279,000
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.
Similar Off Market Nearby
- The Urban Planter — 511 12th Ave N, St. Petersburg, FL 33701
- Jennie's Flowers St. Petersburg — 2301 Dr M.L.K. Jr St N, St. Petersburg, FL 33704
- Lemon Drops Weddings & Events — 2500 Dr M.L.K. Jr St N, St. Petersburg, FL 33704
- The Flower Centre of St. Petersburg — 2500 Dr Dr M.L.K. Jr St N, St. Petersburg, FL 33704
Frequently Asked Questions
What type of property is this?
Storefront property - Corner commercial space near downtown St. Petersburg with substantial electrical capacity and access to multiple transportation modes.
Where is this storefront property located?
The property is located at 1601 5TH N St Petersburg, FL.
What is the asking price?
The asking price for this property is $492,000.
What are key features of this property?
This property features: 800 Amp electrical service; Corner position at 5th Ave. North and 16th St. North; I‑275 ramp two blocks away
