St. Petersburg Warehouse with Leased
For Sale
$1,095,000
4055 7TH TERRACE, St Petersburg, FL 33711
Two-unit warehouse with income and owner-user potential in St. Petersburg.
Property Size5,796 SF
Lot Size0.22 Acres
Price / SF$188.92
Days on Market115
Property Features for 4055 7TH TERRACE
General Information
Standard status
Active
Size
5,796 SF
Lot size
0.22 Acres
Property subtype
Commercial
Building Details
Year Built
1977
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
VICTORIA ROESE · License #3097497
Source:
Corcoran
Added: Apr 14
Changed: Jul 10
Last Checked: Aug 6 at 4:01AM
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 CHARLES RUTENBERG REALTY INC
Investment Insights
Based on property information with market context.
This two-unit industrial/warehouse property is located in central St. Petersburg. The concrete block building totals approximately 5,796 square feet and is configured as two bays of roughly 2,880 square feet each, situated on a 0.21–0.22 acre lot. The property has convenient access to I-275 and major St. Pete corridors. One unit, approximately 2,800 square feet, is currently leased on a triple-net (NNN) basis, providing income. The second unit, approximately 2,900 square feet, has been recently renovated and is available for lease or for an owner-occupant. Each bay includes an office area with a dedicated window A/C unit, a renovated restroom with a slop sink, front and rear entry doors, and an oversized roll-up commercial garage door. Constructed of reinforced concrete block with steel rafters, the warehouse benefits from a newer roof and approximately 200-amp electric service. On-site parking accommodates approximately 6–8 vehicles, and 24-hour access plus available building signage provide functionality and visibility for tenants. Recent renovations include updated interiors, fresh paint, improved office finishes, and move-in ready warehouse space. The property is zoned GC – General Commercial. It is suitable for a range of light industrial, service, storage, or small business uses.
Key Highlights
- Immediate cash flow from existing tenant with a NNN lease structure.
- Opportunity for owner‑user to occupy the recently renovated ±2,900 SF unit while benefiting from rental income.
- Prime central St. Petersburg location with easy access to I‑275.
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
$89,991
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
8.22%
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%
$1,799,820
$1.8M
Cap Rate 7%
$1,285,586
$1.3M
Cap Rate 9%
$999,900
$999.9K
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
$150.9K $26.04/SF
− Vacancy
−$30.9K −$5.34/SF
EGI
$120.0K $20.70/SF
− OpEx
−$30.0K −$5.18/SF
NOI
$90.0K $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%
$1,799,820
Cap Rate 7%
$1,285,586
Cap Rate 9%
$999,900
Alternative Uses
Best Use
Office B
$1.29M
$1.12M – $1.50M
NOI $89,991 @ 7.0% cap · market cap 8.22%
Second Best
Warehouse
$697.3K
$610.1K – $813.5K
NOI $48,811 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,531 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Two-unit warehouse with income and owner-user potential in St. Petersburg.
Where is this warehouse located?
The property is located at 4055 7TH TERRACE St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Immediate cash flow from existing tenant with a NNN lease structure.; Opportunity for owner‑user to occupy the recently renovated ±2,900 SF unit while benefiting from rental income.; Prime central St. Petersburg location with easy access to I‑275.
