Convenience Store with
New
For Sale
$439,000
1664 15TH S, St Petersburg, FL 33712
Corner-site property includes refrigeration, meat-processing, and ice equipment.
Property Size1,740 SF
Price / SF$213.11
Days on Market2
Property Features for 1664 15TH S
General Information
Standard status
Active
Size
1,740 SF
Property subtype
Commercial
Additional Details
Opportunity Zone
Yes
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$4,976
Building Details
Building Size
1,740 SF
Year Built
1952
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Brandon Rimes · License #3228106
(813) 917-1894
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:34PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This freestanding convenience store contains approximately 1,740 square feet of heated area and 2,060 square feet in total. Built in 1952, the building is offered in as-is condition. Equipment included in the sale comprises three refrigerators, a meat freezer, meat slicer, ice cooler, scale, and wrapping machine. The ATM and ice-cream cooler are excluded, and inventory will be cleared before closing unless purchased separately.
The property occupies a corner lot in an Opportunity Zone, approximately 2 miles from downtown St. Petersburg. The existing convenience store business may also be continued by a buyer who chooses to do so.
The property occupies a corner lot in an Opportunity Zone, approximately 2 miles from downtown St. Petersburg. The existing convenience store business may also be continued by a buyer who chooses to do so.
Key Highlights
- 1,740 square feet of heated space; 2,060 square feet total
- Equipment includes three refrigerators, a meat freezer, meat slicer, ice cooler, scale, and wrapping machine
- Corner‑lot property in an Opportunity Zone
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
$22,897
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
5.22%
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%
$457,940
$457.9K
Cap Rate 7%
$327,100
$327.1K
Cap Rate 9%
$254,411
$254.4K
Market Conditions
NOI Build-Up for 2,060 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
$32.1K $15.60/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$30.5K $14.82/SF
− OpEx
−$7.6K −$3.70/SF
NOI
$22.9K $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%
$457,940
Cap Rate 7%
$327,100
Cap Rate 9%
$254,411
Alternative Uses
Best Use
Specialty Retail
$327.1K
$286.2K – $381.6K
NOI $22,897 @ 7.0% cap · market cap 5.22%
Second Best
Retail
$288.9K
$252.8K – $337.1K
NOI $20,224 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$535.8K
$468.9K – $625.1K
NOI $37,508 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,393
Businesses Nearby
5k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
5,238 visits/mo
0.1 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Corner-site property includes refrigeration, meat-processing, and ice equipment.
Where is this grocery and convenience store located?
The property is located at 1664 15TH 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: 1,740 square feet of heated space; 2,060 square feet total; Equipment includes three refrigerators, a meat freezer, meat slicer, ice cooler, scale, and wrapping machine; Corner‑lot property in an Opportunity Zone
