Prime Commercial Property on 66th
For Sale
$1,000,000
4900 66th St N, St Petersburg, FL 33709
High-visibility commercial property with two buildings and ample parking.
Property Size4,770 SF
Lot Size0.33 Acres
Price / SF$209.64
Days on Market134
Property Features for 4900 66th St N
General Information
Standard status
Active
Size
4,770 SF
Lot size
0.33 Acres
Building Details
Year Built
1953
Listing Agency:
CENTURY 21 BEGGINS
Listed By:
Blake Gore · License #3388346
(727) 953-0714
Source:
Fulcrum-residential
Added: Apr 24
Changed: Sep 4
Last Checked: Sep 1 at 9:59PM
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 CENTURY 21 BEGGINS
Investment Insights
Based on property information with market context.
Located just south of Park Boulevard and 66th Street North in Pinellas County, this commercial property spans over one-third of an acre with C-2 zoning. Benefiting from frontage on 66th Street, the property experiences traffic of over 50,000 vehicles daily. The site features two operational buildings, one equipped with a drive-up window. The existing setup includes two full-service bars, a walk-in cooler, two dance floors, a large main stage, and DJ booths. The property has 40+ parking spaces and a drive-through front entrance. This location is 16 minutes from downtown St. Petersburg, 12 minutes from St. Pete Beach, and 35 minutes from SoHo and Ybor City Tampa. The property is suitable for entrepreneurs, restaurateurs, and creatives. The location has a bike score of 55, indicating it is bikeable, a walk score of 42, indicating it is car-dependent, and a transit score of 30, indicating some transit options are available.
Key Highlights
- High Traffic Location: Frontage on 66th Street with over 50,000 vehicles passing daily ensures exceptional visibility.
- C‑2 Zoning & Size: Over one‑third of an acre with C‑2 zoning provides flexibility for various commercial ventures.
- Existing Infrastructure: Two functional buildings, including one with a drive‑up window, offer immediate operational potential.
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
$53,019
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
5.30%
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%
$1,060,380
$1.1M
Cap Rate 7%
$757,414
$757.4K
Cap Rate 9%
$589,100
$589.1K
Market Conditions
NOI Build-Up for 4,770 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
$74.4K $15.60/SF
− Vacancy
−$3.7K −$0.78/SF
EGI
$70.7K $14.82/SF
− OpEx
−$17.7K −$3.70/SF
NOI
$53.0K $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%
$1,060,380
Cap Rate 7%
$757,414
Cap Rate 9%
$589,100
Alternative Uses
Best Use
Specialty Retail
$757.4K
$662.7K – $883.7K
NOI $53,019 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,850 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
226k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 29%
Home Improvements & Furnishings 17%
Groceries 10%
Wawa
Shops & Services
30,417 visits/mo
0.3 miles
McDonald's
Dining
28,969 visits/mo
0.4 miles
RaceTrac
Shops & Services
28,794 visits/mo
0.2 miles
At Home
Home Improvements & Furnishings
20,432 visits/mo
0.3 miles
Circle K
Shops & Services
17,292 visits/mo
0.4 miles
Demographics for 33709, FL
27,026
Population
13,767
Households
2
Avg Household Size
50
Median Age
19%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
5,299
Density / Sq Mi
$52,621
Median Household Income
$35,488
Median Earnings
$1,317
Median Rent
$190,300
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.
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Frequently Asked Questions
What type of property is this?
Bar & Pub - High-visibility commercial property with two buildings and ample parking.
Where is this bar & pub located?
The property is located at 4900 66th St N St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: High Traffic Location: Frontage on 66th Street with over 50,000 vehicles passing daily ensures exceptional visibility.; C‑2 Zoning & Size: Over one‑third of an acre with C‑2 zoning provides flexibility for various commercial ventures.; Existing Infrastructure: Two functional buildings, including one with a drive‑up window, offer immediate operational potential.
