Renovated Flex
New
For Sale
$1,150,000
4001 7TH TERRACE S, St Petersburg, FL 33711
Vacant building pairs finished office areas with warehouse space and roll-up door access.
Property Size5,796 SF
Price / SF$198.41
Days on Market5
Property Features for 4001 7TH TERRACE S
General Information
Standard status
Active
Size
5,796 SF
Property subtype
Industrial
Building Details
Year Built
1974
Listing Agency:
LESLIE WELLS REALTY, INC.
(941) 776-5571
Listed By:
Cynthia Disharoon · License #3575116
(941) 290-2808
Source:
Endlesssummerrealty
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 1 at 10:58AM
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 LESLIE WELLS REALTY, INC.
Investment Insights
Based on property information with market context.
This 5,796 SF flex property combines office and warehouse areas in a concrete block building. Office improvements include tile flooring, a refreshed kitchen and renovated restrooms; the warehouse has roll-up door access and approximately 20' of clear height. New AC serves the building, which was built in 1974 and is vacant for immediate occupancy.
The property sits on a corner lot with frontage on 40th Street S in St. Petersburg’s 7th Terrace commerce corridor. I-275 provides access to the broader Tampa Bay market.
The property sits on a corner lot with frontage on 40th Street S in St. Petersburg’s 7th Terrace commerce corridor. I-275 provides access to the broader Tampa Bay market.
Key Highlights
- 5,796 SF flex building on a corner lot
- Approximately 20' clear height in warehouse area
- Frontage on 40th Street S, in St. Petersburg’s 7th Terrace commerce corridor
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
$52,437
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
4.56%
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%
$1,048,740
$1.0M
Cap Rate 7%
$749,100
$749.1K
Cap Rate 9%
$582,633
$582.6K
Market Conditions
NOI Build-Up for 5,796 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
$85.5K $14.76/SF
− Vacancy
−$4.9K −$0.84/SF
EGI
$80.7K $13.92/SF
− OpEx
−$28.2K −$4.87/SF
NOI
$52.4K $9.05/SF
Area
Pinellas County, FL
Vacancy
5.70%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
35.00%
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%
$1,048,740
Cap Rate 7%
$749,100
Cap Rate 9%
$582,633
Alternative Uses
Best Use
Flex RnD
$749.1K
$655.5K – $874.0K
NOI $52,437 @ 7.0% cap · market cap 4.56%
Second Best
Warehouse
$697.3K
$610.1K – $813.5K
NOI $48,811 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,531 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
Balanced
Demand for This Use
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
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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Frequently Asked Questions
What type of property is this?
Flex space - Vacant building pairs finished office areas with warehouse space and roll-up door access.
Where is this flex space located?
The property is located at 4001 7TH TERRACE S St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 5,796 SF flex building on a corner lot; Approximately 20' clear height in warehouse area; Frontage on 40th Street S, in St. Petersburg’s 7th Terrace commerce corridor
