Two-Suite Office
New
For Sale
$1,200,000
3632 CENTRAL Ave, St Petersburg, FL 33711
Separate work areas and on-site parking support flexible occupancy on Central Avenue.
Property Size3,112 SF
Days on Market4
Property Features for 3632 CENTRAL Ave
General Information
Standard status
Active
Size
3,112 SF
Total Parking Spaces
12
Property subtype
Commercial
Additional Details
Public Transit
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$8,626
Building Details
Building Size
3,112 SF
Year Built
1965
Stories
1
Listing Agency:
LPT Realty
(727) 424-6330
Listed By:
Carl Gresen · License #BK3208512
(727) 424-6330
Source:
Elliman
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 9:22AM
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 LPT Realty
Investment Insights
Based on property information with market context.
This office property contains more than 3,100 square feet arranged as two independent office suites, each exceeding 1,500 square feet. The building has been maintained and includes 12 parking spaces, providing practical support for occupants and visitors. Its configuration can accommodate separate users or a business seeking distinct office areas within one property.
Located at 3632 Central Avenue in St. Petersburg, the property records a Walk Score of 76, a Bike Score of 75, and a Transit Score of 53. The building was constructed in 1965 and is presented for sale with occupancy potential described as available on a fast timeline.
Located at 3632 Central Avenue in St. Petersburg, the property records a Walk Score of 76, a Bike Score of 75, and a Transit Score of 53. The building was constructed in 1965 and is presented for sale with occupancy potential described as available on a fast timeline.
Key Highlights
- More than 3,100 square feet of office space
- Two separate office suites, each over 1,500 square feet
- 12 on‑site parking spaces
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
$48,318
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
4.03%
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%
$966,360
$966.4K
Cap Rate 7%
$690,257
$690.3K
Cap Rate 9%
$536,867
$536.9K
Market Conditions
NOI Build-Up for 3,112 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
$81.0K $26.04/SF
− Vacancy
−$16.6K −$5.34/SF
EGI
$64.4K $20.70/SF
− OpEx
−$16.1K −$5.18/SF
NOI
$48.3K $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%
$966,360
Cap Rate 7%
$690,257
Cap Rate 9%
$536,867
Alternative Uses
Best Use
Office B
$690.3K
$604.0K – $805.3K
NOI $48,318 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$809.5K
$708.3K – $944.4K
NOI $56,662 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,524
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?
Office building - Separate work areas and on-site parking support flexible occupancy on Central Avenue.
Where is this office building located?
The property is located at 3632 CENTRAL Ave St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: More than 3,100 square feet of office space; Two separate office suites, each over 1,500 square feet; 12 on‑site parking spaces
