Salon Ready Commercial
For Sale
$799,000
3425 22ND Ave S, St Petersburg, FL 33711
Flexible commercial space in St. Petersburg's revitalization district.
Property Size1,640 SF
Lot Size0.27 Acres
Days on Market154
Property Features for 3425 22ND Ave S
General Information
Standard status
Active
Size
1,640 SF
Lot size
0.27 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,768
Building Details
Building Size
1,640 SF
Year Built
1950
Stories
1
Listing Agency:
CENTURY 21 BEGGINS
(727) 643-6615
Listed By:
Kristy Murphy · License #3286612
(727) 643-6615
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 12:01PM
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 CENTURY 21 BEGGINS
Investment Insights
Based on property information with market context.
This commercial property is located on 22nd Avenue South in the Childs Park/Revitalization district of St. Petersburg, Florida. The main building previously operated as a hair salon and retains much of its original layout, including plumbing, wiring, HVAC, and interior finishes. A secondary outbuilding contains a restroom and is suitable for a workshop, back office, storage, or ancillary use. Onsite parking is available. The property benefits from frontage and visibility on 22nd Ave S, a key corridor, as well as visibility from 34th St South. The building is vacant and ready for immediate occupancy. It is suited for a salon, spa, boutique, wellness center, creative studio, light retail, or training center. The property was previously used as a veterinarian office. The surrounding area has over 200,000 households within a 5-mile radius and is targeted for revitalization and commercial uplift. Salon equipment, including chairs, stations, and dryers, is negotiable.
Key Highlights
- Prime commercial location on 22nd Ave S in St. Petersburg's Childs Park/Revitalization district.
- Flexible building suitable for salon, spa, boutique, wellness center, creative studio, light retail, or training center.
- Existing salon layout with plumbing, wiring, HVAC, and interior finishes intact.
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
$25,463
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
3.19%
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%
$509,260
$509.3K
Cap Rate 7%
$363,757
$363.8K
Cap Rate 9%
$282,922
$282.9K
Market Conditions
NOI Build-Up for 1,640 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
$42.7K $26.04/SF
− Vacancy
−$8.8K −$5.34/SF
EGI
$34.0K $20.70/SF
− OpEx
−$8.5K −$5.18/SF
NOI
$25.5K $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%
$509,260
Cap Rate 7%
$363,757
Cap Rate 9%
$282,922
Alternative Uses
Best Use
Office B
$363.8K
$318.3K – $424.4K
NOI $25,463 @ 7.0% cap · market cap 3.19%
Second Best
Retail
$230.0K
$201.3K – $268.4K
NOI $16,101 @ 7.0% cap · market cap 2.02%
Theoretical Best
Office A
$426.6K
$373.3K – $497.7K
NOI $29,860 @ 7.0% cap · market cap 3.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 33711, FL
20,121
Population
9,522
Households
2.1
Avg Household Size
41
Median Age
32%
College-Educated
96%
High-School Grad
4.7 sq mi
ZIP Area
4,281
Density / Sq Mi
$68,295
Median Household Income
$27,156
Median Earnings
$1,819
Median Rent
$253,100
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?
Retail space - Flexible commercial space in St. Petersburg's revitalization district.
Where is this retail space located?
The property is located at 3425 22ND Ave S St Petersburg, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime commercial location on 22nd Ave S in St. Petersburg's Childs Park/Revitalization district.; Flexible building suitable for salon, spa, boutique, wellness center, creative studio, light retail, or training center.; Existing salon layout with plumbing, wiring, HVAC, and interior finishes intact.
