St. Petersburg Corner Medical
For Sale
Contact for pricing
Pending
3104 34th St N, St Petersburg, FL 33713
3,603 SF corner property ideal for medical or professional office.
Property Size3,603 SF
Days on Market1418
Property Features for 3104 34th St N
General Information
Standard status
Pending
Size
3,603 SF
Class
B
Property subtype
Office
Zoning
CCR-1
Investment Type
Owner/User
Building Details
Year Built
1957
Year Renovated
1998
Buildings
1
Stories
1
Units
1
Listing Agency:
John Burpee & Associates
(727) 585-2070
Listed By:
John Burpee · License #FL cq1057398
Source:
Crexi
Added: Oct 5, 2022
Changed: Aug 8
Last Checked: Jul 24 at 9:28AM
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 John Burpee & Associates
Investment Insights
Based on property information with market context.
Located at a prominent corner in St. Petersburg, Florida, the property at 3140 34th St N offers 3,603 square feet of usable space suitable for a medical or professional office. The building's layout is consistent with its previous use as a medical facility. A new silicone roof seal system was installed within the last 36 months. The corner location benefits from high visibility, with an average daily traffic count of 36,500 vehicles. This makes it suitable for businesses that benefit from walk-in traffic, such as medical practices, insurance providers, cannabis retailers, and law firms. The surrounding area on 34th Street is undergoing revitalization, evidenced by capital investments such as the new Pinellas County DMV & Tax Appraisers offices, Goodwill Industries, WaWa, and Floor & Décor. Several automotive retailers in the surrounding market have completed major renovations and expansions to their facilities providing local employment and investment in the market.
Key Highlights
- High‑profile corner location with 36,500 cars per day traffic count.
- 3,603 SQFT useable space suitable for medical or professional office.
- Recent new silicone roof seal system installed within the last 36 months.
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
$55,941
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
4.48%
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%
$1,118,820
$1.1M
Cap Rate 7%
$799,157
$799.2K
Cap Rate 9%
$621,567
$621.6K
Market Conditions
NOI Build-Up for 3,603 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
$93.8K $26.04/SF
− Vacancy
−$19.2K −$5.34/SF
EGI
$74.6K $20.70/SF
− OpEx
−$18.6K −$5.18/SF
NOI
$55.9K $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%
$1,118,820
Cap Rate 7%
$799,157
Cap Rate 9%
$621,567
Alternative Uses
Best Use
Office B
$799.2K
$699.3K – $932.4K
NOI $55,941 @ 7.0% cap · market cap 4.48%
Second Best
Healthcare Medical
$474.7K
$415.4K – $553.9K
NOI $33,231 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$937.2K
$820.0K – $1.09M
NOI $65,602 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 3,603 SF corner property ideal for medical or professional office.
Where is this medical office space located?
The property is located at 3104 34th St N St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: High‑profile corner location with 36,500 cars per day traffic count.; 3,603 SQFT useable space suitable for medical or professional office.; Recent new silicone roof seal system installed within the last 36 months.
