Prime Commercial Property on 66th
For Sale
$1,000,000
4900 66TH STREET N, St Petersburg, FL 33709
High-visibility property with two buildings, ideal for various ventures.
Property Size4,770 SF
Lot Size0.57 Acres
Price / SF$209.64
Days on Market173
Property Features for 4900 66TH STREET N
General Information
Standard status
Active
Size
4,770 SF
Lot size
0.57 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,917
Amenities
Pool
Public Pool
Building Details
Year Built
1953
Listing Agency:
CENTURY 21 BEGGINS
(800) 541-9923
Listed By:
BLAKE GORE
Source:
Corcoran
Added: Feb 24
Changed: Aug 14
Last Checked: Aug 15 at 10:22AM
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 the intersection of Park Boulevard and 66th Street, this commercial property is in Pinellas County. The property spans over one-third of an acre and is zoned C-2. Benefiting from frontage on 66th Street, the location sees traffic of over 50,000 vehicles daily. The property includes two operational buildings, one of which has a drive-up window. Currently configured as an entertainment venue, the space features two full-service bars, a walk-in cooler, two dance floors, a main stage, and DJ booths. The property offers flexibility to continue the existing concept, adapt the layout, or redevelop the site. The property has 40+ parking spaces and a drive-through front entrance. The 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 size is 4770 square feet.
Key Highlights
- High‑traffic location on 66th Street with over 50,000 vehicles passing daily, providing exceptional visibility.
- C‑2 zoning on over one‑third of an acre offers diverse development and business opportunities.
- Two existing, fully functional buildings, including one with a drive‑up window, provide 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
850
Businesses Nearby
161k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Home Improvements & Furnishings 23%
Dining 22%
Groceries 14%
RaceTrac
Shops & Services
28,794 visits/mo
0.4 miles
At Home
Home Improvements & Furnishings
20,432 visits/mo
0.3 miles
Harbor Freight Tools
Home Improvements & Furnishings
15,882 visits/mo
0.2 miles
Sprouts Farmers Market
Groceries
15,179 visits/mo
0.3 miles
Dunkin' Donuts
Dining
13,371 visits/mo
0.3 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 property with two buildings, ideal for various ventures.
Where is this bar & pub located?
The property is located at 4900 66TH STREET 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 on 66th Street with over 50,000 vehicles passing daily, providing exceptional visibility.; C‑2 zoning on over one‑third of an acre offers diverse development and business opportunities.; Two existing, fully functional buildings, including one with a drive‑up window, provide immediate operational potential.
