Corner Flex Space with Alley
For Sale
$379,000
Pending
2560 5TH S, St Petersburg, FL 33712
IT-zoned property with an occupied building, recent systems improvements, and flexibility for creative, office, and workshop uses.
Property Size1,170 SF
Days on Market24
Property Features for 2560 5TH S
General Information
Standard status
Pending
Size
1,170 SF
Property subtype
Commercial
Zoning
IT
Site & Location
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,113
Building Details
Building Size
1,170 SF
Year Built
1928
Units
1
Tenancy
Single
Listing Agency:
(413) 441-3426
Listed By:
Peter Dus, Jr.
(413) 441-3426
Source:
Elliman
Added: Jul 30
Changed: Aug 17
Last Checked: Aug 14 at 8:22AM
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 Peter Dus, Jr.
Investment Insights
Based on property information with market context.
This IT-zoned flex space is improved with an income-producing building occupied by a long-term month-to-month tenant. The property offers flexibility for future owner-users, investors, or redevelopment, with city planning guidance identifying support for artist studios, galleries, photography studios, creative workspaces, design studios, maker spaces, workshops, breweries, and general office uses. Retail sales, neighborhood cafés, and similar commercial uses may be permitted as accessory uses under city regulations; live/work dwellings are not permitted.
The corner property has approximately 100 feet of frontage on 5th Avenue South, 60 feet on 26th Street South, and additional access from a 16-foot public alley. Improvements include a 2015 roof, 2020 HVAC system, and 2023 electrical panel. Located at 2560 5th Ave S in St. Petersburg, the property is minutes from Downtown St. Petersburg, the EDGE District, Grand Central District, and the Pinellas Trail, and approximately one mile from the Historic Gas Plant redevelopment. Walk Score is 76, Bike Score is 69, and Transit Score is 48.
The corner property has approximately 100 feet of frontage on 5th Avenue South, 60 feet on 26th Street South, and additional access from a 16-foot public alley. Improvements include a 2015 roof, 2020 HVAC system, and 2023 electrical panel. Located at 2560 5th Ave S in St. Petersburg, the property is minutes from Downtown St. Petersburg, the EDGE District, Grand Central District, and the Pinellas Trail, and approximately one mile from the Historic Gas Plant redevelopment. Walk Score is 76, Bike Score is 69, and Transit Score is 48.
Key Highlights
- IT zoning supports artist studios, creative workspaces, workshops, breweries, and general office uses
- Income‑producing building occupied by a long‑term month‑to‑month tenant
- Approximately 100 feet of frontage on 5th Avenue South and 60 feet on 26th Street South
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
$18,166
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
4.79%
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%
$363,320
$363.3K
Cap Rate 7%
$259,514
$259.5K
Cap Rate 9%
$201,844
$201.8K
Market Conditions
NOI Build-Up for 1,170 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
$30.5K $26.04/SF
− Vacancy
−$6.2K −$5.34/SF
EGI
$24.2K $20.70/SF
− OpEx
−$6.1K −$5.18/SF
NOI
$18.2K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /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%
$363,320
Cap Rate 7%
$259,514
Cap Rate 9%
$201,844
Alternative Uses
Best Use
Office B
$259.5K
$227.1K – $302.8K
NOI $18,166 @ 7.0% cap · market cap 4.79%
Second Best
Flex RnD
$151.2K
$132.3K – $176.4K
NOI $10,585 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$304.3K
$266.3K – $355.1K
NOI $21,303 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - IT-zoned property with an occupied building, recent systems improvements, and flexibility for creative, office, and workshop uses.
Where is this flex space located?
The property is located at 2560 5TH S St Petersburg, FL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: IT zoning supports artist studios, creative workspaces, workshops, breweries, and general office uses; Income‑producing building occupied by a long‑term month‑to‑month tenant; Approximately 100 feet of frontage on 5th Avenue South and 60 feet on 26th Street South
