Two-Unit Warehouse with Office
For Sale
$1,095,000
4055 7TH TERRACE, St Petersburg, FL 33711
Commercial Sale, ST PETERSBURG, FL
Property Size5,760 SF
Lot Size0.21 Acres
Price / SF$188.92
Days on Market132
Property Features for 4055 7TH TERRACE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IT
Lot features
City Limits, Interior Lot, Paved
Directions
FROM I275 SOUTH TAKE EXIT 18 LEFT ON 26TH AVE S RIGHT ON US19 LEFT ON 11TH AVE S RIGHT ON 7TH TERRACE S TO POPERTY ON YOUR RIGHT
Subdivision
33711 - St Pete/Gulfport
Standard status
Active
APN
27-31-16-29772-000-0060
Size
5,796 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FULLERS GARDEN HOMES TENCO REPLAT LOT 6
Tax Annual Amount
6480
Legal Description
FULLERS GARDEN HOMES TENCO REPLAT LOT 6
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Amenities
24-hour access
building signage
Building Details
Year built
1977
Number of units
2
Flooring type
Concrete
Building materials
Concrete
Roof type
Built-Up
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
Victoria Roese · License #3097497
(813) 956-5160
Added: Apr 13
Changed: Aug 20
Last Checked: Aug 22 at 4:06PM
MLS# TB8497121
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit warehouse property includes office areas, restrooms with slop sinks, front and rear entry doors, and oversized roll-up commercial garage doors serving each bay. The concrete-block structure has steel rafters, concrete flooring, electric heating, window and wall/window cooling, and a newer built-up roof. One unit is leased on an NNN basis, while the other has been renovated and is available for lease or owner occupancy.
The property is located at 4055 7th Terrace in St. Petersburg, with convenient access to I-275 and 24-hour building access. On-site surface parking accommodates approximately 6-8 vehicles, and building signage is available. Improvements include updated interiors, fresh paint, and improved office finishes. The property was built in 1977 and has approximately 200-amp electric service.
The property is located at 4055 7th Terrace in St. Petersburg, with convenient access to I-275 and 24-hour building access. On-site surface parking accommodates approximately 6-8 vehicles, and building signage is available. Improvements include updated interiors, fresh paint, and improved office finishes. The property was built in 1977 and has approximately 200-amp electric service.
Key Highlights
- Two‑unit warehouse configuration with office areas in each bay
- One unit leased on an NNN basis; renovated second unit available for lease or owner occupancy
- Reinforced concrete‑block construction with steel rafters and newer built‑up roof
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
4.79%
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 4.79%
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
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,422
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Concrete-block warehouse with one NNN-leased unit and a renovated bay available for lease or owner occupancy.
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: Two‑unit warehouse configuration with office areas in each bay; One unit leased on an NNN basis; renovated second unit available for lease or owner occupancy; Reinforced concrete‑block construction with steel rafters and newer built‑up roof
