St. Petersburg Motel Redevelopment
For Sale
Contact for pricing
Pending
4400 34th St S, St Petersburg, FL 33711
54-unit motel with redevelopment potential in St. Petersburg, Florida.
Property Size26,872 SF
Days on Market179
Property Features for 4400 34th St S
General Information
Standard status
Pending
Size
26,872 SF
Class
C
Property subtype
Multifamily, Hospitality
Building Details
Year Built
1984
Year Renovated
1996
Stories
2
Listing Agency:
KW Commercial Boca Raton East
(561) 305-6161
Listed By:
Stephen Molinari · License #3530706
Source:
Crexi
Added: Feb 13
Changed: Aug 8
Last Checked: Aug 11 at 7:37AM
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 KW Commercial Boca Raton East
Investment Insights
Based on property information with market context.
This is a 54-unit motel located at 4400 34th St S in St. Petersburg, Florida. The property is a hospitality asset that offers income. It is located within the Skyway Marina District and falls under the Skyway Marina Development Activity Center zoning designation, which allows for redevelopment potential. The current zoning permits residential density of up to 96 units, with the ability to increase overall density to 120 units when incorporating workforce housing components. The property size is 26872 square feet.
Key Highlights
- High cash‑flowing, 54‑unit motel providing strong in‑place income.
- Significant long‑term redevelopment upside due to Skyway Marina Development Activity Center zoning.
- Zoning permits residential density of up to 96 units.
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
$247,144
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
3.09%
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%
$4,942,880
$4.9M
Cap Rate 7%
$3,530,629
$3.5M
Cap Rate 9%
$2,746,044
$2.7M
Market Conditions
NOI Build-Up for 26,872 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
$483.7K $18.00/SF
− Vacancy
−$34.3K −$1.28/SF
EGI
$449.4K $16.72/SF
− OpEx
−$202.2K −$7.52/SF
NOI
$247.1K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$4,942,880
Cap Rate 7%
$3,530,629
Cap Rate 9%
$2,746,044
Alternative Uses
Best Use
Apartment 5plus
$3.53M
$3.09M – $4.12M
NOI $247,144 @ 7.0% cap · market cap 3.09%
Second Best
Hotel Hospitality
$2.46M
$2.15M – $2.87M
NOI $172,317 @ 7.0% cap · market cap 2.15%
Theoretical Best
Office A
$6.99M
$6.12M – $8.15M
NOI $489,273 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
568
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 Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bayway Inn — 4400 34th St S, St. Petersburg, FL 33711
- Crystal Inn — 4600 34th St S, St. Petersburg, FL 33711
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- Sunset Cottage — 3607 42nd way s, st. petersburg, fl 33711
- JED Crystal Skull — 3680 46th Ave S #238, St. Petersburg, FL 33711
Frequently Asked Questions
What type of property is this?
Motel - 54-unit motel with redevelopment potential in St. Petersburg, Florida.
Where is this motel located?
The property is located at 4400 34th St S St Petersburg, FL.
What is the asking price?
The asking price for this property is $7,999,900.
What are key features of this property?
This property features: High cash‑flowing, 54‑unit motel providing strong in‑place income.; Significant long‑term redevelopment upside due to Skyway Marina Development Activity Center zoning.; Zoning permits residential density of up to 96 units.
