Corridor Commercial Mixed-Use
For Sale
$1,199,000
500 64th Street S ST PETERSBURG, Saint Petersburg, FL 33710
CCT-1 zoned two-parcel site with direct Pinellas Trail access and existing office-and-storage improvements.
Property Size2,720 SF
Lot Size0.37 Acres
Price / SF$440.81
Days on Market88
Property Features for 500 64th Street S ST PETERSBURG
General Information
Standard status
Active
Size
2,720 SF
Lot size
0.37 Acres
Property subtype
Land
Zoning
CCT-1
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$950
Amenities
Corner Lot
Public
16117
127 x 143.5 x 93.9 x 92.8 x 52
0.37
2
false
Unimproved
Listing Agency:
barkett realty
(407) 890-1354
Listed By:
Veronica Cole
(407) 890-1354
Source:
Therealestatecollection
Added: May 29
Changed: Aug 23
Last Checked: Aug 23 at 6:51AM
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 barkett realty
Investment Insights
Based on property information with market context.
This two-parcel assemblage includes a 2,720 SF structure with 1,964 SF of heated interior space, plus a steel-trussed 2+ car garage and a large fenced storage yard with a rolling gate. The property offers functional space for an owner-user while supporting flexible redevelopment given the underlying land value.
The site fronts the Pinellas Trail and provides accessibility from three sides, including access off 64th Street S, direct trail access, and rear alley access. Multiple ingress and egress points include prominent curb cuts along 64th Street S and direct southwest trail connectivity, supporting varied site planning options.
Zoned CCT-1 (Corridor Commercial Traditional), the property allows a broad mix of uses, including professional office, retail, residential, live-work, and light service applications. The offering is positioned as a trail-oriented development opportunity with by-right potential for townhomes and additional density that may be supported through city density initiatives along the corridor.
The site fronts the Pinellas Trail and provides accessibility from three sides, including access off 64th Street S, direct trail access, and rear alley access. Multiple ingress and egress points include prominent curb cuts along 64th Street S and direct southwest trail connectivity, supporting varied site planning options.
Zoned CCT-1 (Corridor Commercial Traditional), the property allows a broad mix of uses, including professional office, retail, residential, live-work, and light service applications. The offering is positioned as a trail-oriented development opportunity with by-right potential for townhomes and additional density that may be supported through city density initiatives along the corridor.
Key Highlights
- CCT‑1 zoned two‑parcel site at 500 & 510 64th St S with direct Pinellas Trail access for trail‑oriented redevelopment.
- Approx. 0.37 acres (16,117 SF) with an existing 2,720 SF structure offering 1,964 SF of heated interior space.
- Steel‑trussed 2+ car garage plus fenced storage yard with rolling gate providing direct access to the Pinellas Trail.
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
$42,232
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
3.52%
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%
$844,640
$844.6K
Cap Rate 7%
$603,314
$603.3K
Cap Rate 9%
$469,244
$469.2K
Market Conditions
NOI Build-Up for 2,720 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
$70.8K $26.04/SF
− Vacancy
−$14.5K −$5.34/SF
EGI
$56.3K $20.70/SF
− OpEx
−$14.1K −$5.18/SF
NOI
$42.2K $15.53/SF
Area
Pinellas County, FL
Vacancy
20.50%
Lease Rate
$26.04 /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%
$844,640
Cap Rate 7%
$603,314
Cap Rate 9%
$469,244
Alternative Uses
Best Use
Office B
$603.3K
$527.9K – $703.9K
NOI $42,232 @ 7.0% cap · market cap 3.52%
Second Best
Mixed Use
$482.6K
$422.3K – $563.0K
NOI $33,782 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$707.5K
$619.1K – $825.4K
NOI $49,525 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,092
Businesses Nearby
Explore this area
Business Placement
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 Office 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?
Commercial land - CCT-1 zoned two-parcel site with direct Pinellas Trail access and existing office-and-storage improvements.
Where is this commercial land located?
The property is located at 500 64th Street S ST PETERSBURG Saint Petersburg, FL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: CCT‑1 zoned two‑parcel site at 500 & 510 64th St S with direct Pinellas Trail access for trail‑oriented redevelopment.; Approx. 0.37 acres (16,117 SF) with an existing 2,720 SF structure offering 1,964 SF of heated interior space.; Steel‑trussed 2+ car garage plus fenced storage yard with rolling gate providing direct access to the Pinellas Trail.
