Warehouse in Central Arts
For Sale
Contact for pricing
1922 Central Ave, Saint Petersburg, FL
Warehouse space in a rapidly developing urban area.
Property Size8,370 SF
Lot Size0.10 Acres
Price / SF$298.57
Days on Market605
Property Features for 1922 Central Ave
General Information
Standard status
Active
Size
8,370 SF
Lot size
0.10 Acres
Property subtype
RETAIL
Listing Agency:
Barkett Realty
(727) 388-9500
Listed By:
John P. Barkett, MAI
(727) 510-7106
Source:
Moodyscre
Added: Jan 21, 2025
Changed: Jul 6
Last Checked: Sep 18 at 11:35AM
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 Barkett Realty
Investment Insights
Based on property information with market context.
The property is a warehouse without air conditioning or water, offered in As Is condition. It is suitable for uses such as contractor services or vehicle storage. The location is at the intersection of the Grand Central District, Edge District, and the Warehouse Arts district. The Trails Crossing project is one block away, and the I-Mix 22 concept is two blocks away.
Key Highlights
- Prime location at the crossroads of The Grand Central District, Edge District, and the Warehouse Arts District.
- Proximity to the Trails Crossing project (one block away).
- Close to the I‑Mix 22 concept (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
$82,172
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
3.29%
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%
$1,643,440
$1.6M
Cap Rate 7%
$1,173,886
$1.2M
Cap Rate 9%
$913,022
$913.0K
Market Conditions
NOI Build-Up for 8,370 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
$125.6K $15.00/SF
− Vacancy
−$8.2K −$0.98/SF
EGI
$117.4K $14.03/SF
− OpEx
−$35.2K −$4.21/SF
NOI
$82.2K $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%
$1,643,440
Cap Rate 7%
$1,173,886
Cap Rate 9%
$913,022
Alternative Uses
Best Use
Retail
$1.17M
$1.03M – $1.37M
NOI $82,172 @ 7.0% cap · market cap 3.29%
Second Best
Warehouse
$1.01M
$881.1K – $1.17M
NOI $70,487 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$2.18M
$1.90M – $2.54M
NOI $152,397 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,191
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
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- The Lock Up Self Storage — 1700 1st Ave S, St. Petersburg, FL 33712
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse space in a rapidly developing urban area.
Where is this warehouse located?
The property is located at 1922 Central Ave Saint Petersburg, FL.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Prime location at the crossroads of The Grand Central District, Edge District, and the Warehouse Arts District.; Proximity to the Trails Crossing project (one block away).; Close to the I‑Mix 22 concept (two blocks away).
