Retail Building with Corner
For Sale
Contact for pricing
4901 Central Avenue, St Petersburg, FL 33710
Family Dollar occupies a retail building on a corporate double-net lease at a signalized corner in St. Petersburg.
Property Size10,908 SF
Lot Size1.40 Acres
Price / SF$178.67
Days on Market55
Property Features for 4901 Central Avenue
General Information
Standard status
Active
Size
10,908 SF
Total Parking Spaces
58
Lot size
1.40 Acres
Property subtype
Retail
Zoning
CCS-1
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$116,934
Building Details
Year Built
1999
Tenancy
Single
Listing Agency:
Bridgewater Commercial Real Estate
(813) 286-2964
Listed By:
Dee Maret CCIM · License #FL BK3073218
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 11 at 5:35PM
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 Bridgewater Commercial Real Estate
Investment Insights
Based on property information with market context.
4901 Central Avenue is a retail property currently occupied by Family Dollar under a corporate double-net lease. The offering includes in-place rental income plus a sizable corner land parcel of approximately ±1.4 acres, situated at the intersection of two signalized routes.
The property is positioned as a corner site on Central Avenue in St. Petersburg, Florida, providing access from both directions. The location is also described in the remarks as benefiting from the planned SunRunner transit overlay.
For buyers seeking a retail asset with an active national tenant, this property offers an operating, leased building alongside meaningful land area for future consideration. Tenants and brokers will also note that the double-net structure places the day-to-day property cost responsibility on the tenant under the existing lease terms.
The property is positioned as a corner site on Central Avenue in St. Petersburg, Florida, providing access from both directions. The location is also described in the remarks as benefiting from the planned SunRunner transit overlay.
For buyers seeking a retail asset with an active national tenant, this property offers an operating, leased building alongside meaningful land area for future consideration. Tenants and brokers will also note that the double-net structure places the day-to-day property cost responsibility on the tenant under the existing lease terms.
Key Highlights
- Family Dollar occupies the property on a corporate double‑net (NNN) lease
- Rent is described as well below market for the Central Avenue corridor
- ±1.4‑acre corner lot between two signalized intersections on Central Avenue
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
$107,089
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
5.49%
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%
$2,141,780
$2.1M
Cap Rate 7%
$1,529,843
$1.5M
Cap Rate 9%
$1,189,878
$1.2M
Market Conditions
NOI Build-Up for 10,908 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
$163.6K $15.00/SF
− Vacancy
−$10.6K −$0.98/SF
EGI
$153.0K $14.03/SF
− OpEx
−$45.9K −$4.21/SF
NOI
$107.1K $9.82/SF
Area
Pinellas County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,141,780
Cap Rate 7%
$1,529,843
Cap Rate 9%
$1,189,878
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.78M
NOI $107,089 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.48M – $3.31M
NOI $198,608 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
8,257 visits/mo
0.5 miles
Kwik Stop
Shops & Services
3,511 visits/mo
0.5 miles
Demographics for 33710, FL
33,172
Population
16,767
Households
2
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
4,147
Density / Sq Mi
$76,908
Median Household Income
$46,520
Median Earnings
$1,577
Median Rent
$312,500
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.
Frequently Asked Questions
What type of property is this?
Retail space - Family Dollar occupies a retail building on a corporate double-net lease at a signalized corner in St. Petersburg.
Where is this retail space located?
The property is located at 4901 Central Avenue St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,948,900.
What are key features of this property?
This property features: Family Dollar occupies the property on a corporate double‑net (NNN) lease; Rent is described as well below market for the Central Avenue corridor; ±1.4‑acre corner lot between two signalized intersections on Central Avenue
