Freestanding Convenience Store
For Sale
$439,000
1664 15TH Avenue S, St Petersburg, FL 33712
COMMERCIAL - ST PETERSBURG, FL
Property Size1,740 SF
Lot Size0.23 Acres
Price / SF$252.30
Days on Market185
Property Features for 1664 15TH Avenue S
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Refrigerator
Subdivision
PAYNE-HANSEN SUB 1
Directions
from 28th st s turn left onto 15th ave
Standard status
Active
APN
25-31-16-68040-003-0010
Size
1,740 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PAYNE-HANSEN SUB NO. 1 BLK C, LOTS 1 AND 2
Tax Annual Amount
4976
Legal Description
PAYNE-HANSEN SUB NO. 1 BLK C, LOTS 1 AND 2
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1952
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Built-Up
Listing Agency:
KELLER WILLIAMS REALTY- PALM H
(727) 772-0772
Listed By:
Brandon Rimes · License #3228106
(813) 917-1894
Added: Feb 6
Changed: Aug 4
Last Checked: Aug 10 at 3:06PM
MLS# TB8473630
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Freestanding convenience store building on a corner lot with a flexible layout for retail or service uses. The property contains approximately 1,740 SF of heated space and 2,060 SF total, set on a 0.23-acre lot. Construction is block with concrete and stucco, featuring tile flooring, ductless heating, and window or wall/window AC units.
The sale is for the real estate, and the current convenience store operation may be included at no additional cost if a buyer wants to continue the business. Much of the existing equipment will convey, including three refrigerators, a meat freezer, meat slicer, ice cooler, scale, and wrapping machine. The ATM and ice-cream cooler do not convey. All inventory will be removed prior to closing unless a buyer chooses to purchase it separately. The property is located within an Opportunity Zone and is sold as is.
Built in 1952 with a built-up roof, the site also benefits from public water and public sewer service.
The sale is for the real estate, and the current convenience store operation may be included at no additional cost if a buyer wants to continue the business. Much of the existing equipment will convey, including three refrigerators, a meat freezer, meat slicer, ice cooler, scale, and wrapping machine. The ATM and ice-cream cooler do not convey. All inventory will be removed prior to closing unless a buyer chooses to purchase it separately. The property is located within an Opportunity Zone and is sold as is.
Built in 1952 with a built-up roof, the site also benefits from public water and public sewer service.
Key Highlights
- 0.23‑acre corner‑lot freestanding convenience store building
- Approximately 1,740 SF heated and 2,060 SF total building area
- Year built 1952 with built‑up roof
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
$19,340
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
4.41%
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%
$386,800
$386.8K
Cap Rate 7%
$276,286
$276.3K
Cap Rate 9%
$214,889
$214.9K
Market Conditions
NOI Build-Up for 1,740 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
$27.1K $15.60/SF
− Vacancy
−$1.4K −$0.78/SF
EGI
$25.8K $14.82/SF
− OpEx
−$6.4K −$3.70/SF
NOI
$19.3K $11.11/SF
Area
Pinellas County, FL
Vacancy
5.00%
Lease Rate
$15.60 /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%
$386,800
Cap Rate 7%
$276,286
Cap Rate 9%
$214,889
Alternative Uses
Best Use
Specialty Retail
$276.3K
$241.8K – $322.3K
NOI $19,340 @ 7.0% cap · market cap 4.41%
Second Best
Retail
$244.0K
$213.5K – $284.7K
NOI $17,082 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$452.6K
$396.0K – $528.0K
NOI $31,681 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
13k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 30%
Electronics 14%
Dollar General
Shops & Services
6,994 visits/mo
0.4 miles
China Star
Dining
1,944 visits/mo
0.4 miles
Krispy Krunchy Chicken
Dining
1,849 visits/mo
0.2 miles
Metro by T-Mobile
Electronics
1,779 visits/mo
0.4 miles
Demographics for 33712, FL
26,395
Population
13,055
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
6.4 sq mi
ZIP Area
4,124
Density / Sq Mi
$57,729
Median Household Income
$39,589
Median Earnings
$1,440
Median Rent
$300,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Midtown Supermarket — 1856 18th Ave S, St. Petersburg, FL 33712
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Freestanding corner-lot convenience store with ductless heating, window AC, and ample parking in an Opportunity Zone.
Where is this grocery and convenience store located?
The property is located at 1664 15TH Avenue S St Petersburg, FL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: 0.23‑acre corner‑lot freestanding convenience store building; Approximately 1,740 SF heated and 2,060 SF total building area; Year built 1952 with built‑up roof
