Free-Standing Bar
For Sale
Contact for pricing
4685 28th St N, Saint Petersburg, FL 33714
C-3-zoned property with patio space and stated potential for restaurant, retail, office, and specialty service uses.
Property Size2,376 SF
Price / SF$336.70
Days on Market117
Property Features for 4685 28th St N
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Retail
Zoning
C-3
Investment Type
Owner/User
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listed By:
Marlene Behlman · License #BK3349200
Source:
Crexi
Added: May 5
Changed: Aug 29
Last Checked: Aug 29 at 2:10PM
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 Marlene Behlman
Investment Insights
Based on property information with market context.
This free-standing bar property at 4685 28th St N in Saint Petersburg contains 2,376 square feet of building area and an additional 1,000-square-foot patio on a 0.28-acre parcel. The property is zoned C-3, and the stated use possibilities include bar, restaurant, café, retail, office, wellness, and specialty services.
The site is positioned minutes from Downtown St. Petersburg and across the bay from Tampa. The building reportedly sustained no flooding during the hurricanes. An operating business is currently in the facility, and showings are available by appointment only with advance coordination.
The site is positioned minutes from Downtown St. Petersburg and across the bay from Tampa. The building reportedly sustained no flooding during the hurricanes. An operating business is currently in the facility, and showings are available by appointment only with advance coordination.
Key Highlights
- 2,376 SF building with an additional 1,000 SF patio
- 0.28‑acre parcel in Saint Petersburg, FL
- C‑3 zoning
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
$26,409
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
3.30%
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%
$528,180
$528.2K
Cap Rate 7%
$377,271
$377.3K
Cap Rate 9%
$293,433
$293.4K
Market Conditions
NOI Build-Up for 2,376 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
$37.1K $15.60/SF
− Vacancy
−$1.9K −$0.78/SF
EGI
$35.2K $14.82/SF
− OpEx
−$8.8K −$3.70/SF
NOI
$26.4K $11.11/SF
Area
Pinellas County, FL
Vacancy
5.00%
Lease Rate
$15.60 /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%
$528,180
Cap Rate 7%
$377,271
Cap Rate 9%
$293,433
Alternative Uses
Best Use
Specialty Retail
$377.3K
$330.1K – $440.2K
NOI $26,409 @ 7.0% cap · market cap 3.30%
Second Best
Retail
$333.2K
$291.6K – $388.8K
NOI $23,326 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$618.0K
$540.8K – $721.0K
NOI $43,261 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
915
Businesses Nearby
5k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 89%
Apparel 11%
Kane's Furniture
Home Improvements & Furnishings
4,772 visits/mo
0.5 miles
Ewing Outdoor Supply
Apparel
587 visits/mo
0.4 miles
Demographics for 33714, FL
19,905
Population
9,889
Households
2
Avg Household Size
44
Median Age
20%
College-Educated
86%
High-School Grad
3.7 sq mi
ZIP Area
5,380
Density / Sq Mi
$47,221
Median Household Income
$36,207
Median Earnings
$1,270
Median Rent
$177,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jimmy's Sports Bar — 3510 34th St N, St. Petersburg, FL 33713
- Gulfport Florida — 2501 47th Ave N, St. Petersburg, FL 33714
- The Palace — 5339 neil dr, st. petersburg, fl 33714
- Doubles Sports Bar — 3301 54th Ave N, St. Petersburg, FL 33714
- Boardwalk Tavern — 2600 54th Ave N, St. Petersburg, FL 33714
Frequently Asked Questions
What type of property is this?
Bar & Pub - C-3-zoned property with patio space and stated potential for restaurant, retail, office, and specialty service uses.
Where is this bar & pub located?
The property is located at 4685 28th St N Saint Petersburg, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 2,376 SF building with an additional 1,000 SF patio; 0.28‑acre parcel in Saint Petersburg, FL; C‑3 zoning
