Partially Leased Industrial
New
For Sale
$1,125,000
4023 7TH TER S, St Petersburg, FL 33711
The building pairs occupied space with a separate warehouse area featuring roll-up door access and a restroom.
Property Size5,796 SF
Days on Market5
Property Features for 4023 7TH TER S
General Information
Standard status
Active
Size
5,796 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$6,830
Building Details
Building Size
5,796 SF
Year Built
1976
Listing Agency:
LESLIE WELLS REALTY, INC.
Listed By:
Cynthia Disharoon · License #3575116
(941) 290-2808
Source:
Judibeck
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 1 at 5:41PM
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.
Built in 1976, this 5,796-square-foot industrial building has concrete block construction and approximately 20-foot clear height. Roughly 2,900 square feet are leased, while a separate warehouse area of approximately 2,900 square feet has roll-up door access and a restroom. New air conditioning serves the building. The occupied portion is not shown in the available photos.
The property is in St. Petersburg, with access to I-275 and the broader Tampa Bay market.
The property is in St. Petersburg, with access to I-275 and the broader Tampa Bay market.
Key Highlights
- 5,796 SF industrial building constructed in 1976
- Approximately 2,900 SF leased, plus about 2,900 SF of warehouse space
- Concrete block construction with approximately 20' clear height
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
$48,811
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
4.34%
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%
$976,220
$976.2K
Cap Rate 7%
$697,300
$697.3K
Cap Rate 9%
$542,344
$542.3K
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
$60.5K $10.44/SF
− Vacancy
−$3.1K −$0.53/SF
EGI
$57.4K $9.91/SF
− OpEx
−$8.6K −$1.49/SF
NOI
$48.8K $8.42/SF
Area
Pinellas County, FL
Vacancy
5.10%
Lease Rate
$10.44 /SF/Yr
Expense Ratio
15.00%
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%
$976,220
Cap Rate 7%
$697,300
Cap Rate 9%
$542,344
Alternative Uses
Best Use
Warehouse
$697.3K
$610.1K – $813.5K
NOI $48,811 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,531 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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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?
Warehouse - The building pairs occupied space with a separate warehouse area featuring roll-up door access and a restroom.
Where is this warehouse located?
The property is located at 4023 7TH TER S St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 5,796 SF industrial building constructed in 1976; Approximately 2,900 SF leased, plus about 2,900 SF of warehouse space; Concrete block construction with approximately 20' clear height
