Office Building with Fenced
For Sale
$579,000
510 64th Street S Saint, Saint Petersburg, FL 33710
Commercially zoned office property with fenced storage, trail access, and off-street parking.
Property Size2,660 SF
Lot Size0.31 Acres
Price / SF$217.67
Days on Market151
Property Features for 510 64th Street S Saint
General Information
Standard status
Active
Size
2,660 SF
Class
B
Lot size
0.31 Acres
Property subtype
Single Tenant Office
Additional Details
Road Access
Yes
Amenities
fenced storage area
rolling gate to Pinellas Trail
yard storage/sales area
fronts Pinellas Trail
Building Details
Building Size
2,660 SF
Year Built
1954
Listing Agency:
Barkett Realty
(727) 388-9500
Listed By:
John Barkett · License #3274213
(727) 388-9500
Source:
Thebrokerlist
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 29 at 4:45PM
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 commercially zoned office property at 510 64th Street S in Saint Petersburg includes 2,312 SF of air-conditioned area and a 348 SF steel-trussed garage, producing 2,660 SF of total GBA. The site also includes a fenced storage area with a rolling gate connecting to the Pinellas Trail. Supported uses identified for the property include professional office, retail, residential, and light service work.
The 0.31-acre parcel contains 13,362 SF of land and occupies the southeast corner of 64th Street S and 5th Avenue S. Access is available from 64th Street S, the Pinellas Trail, and a south-side alley, with large curb cuts along the east side of 64th Street S. Off-street parking and frontage along the trail complement the property's three-sided access.
The 0.31-acre parcel contains 13,362 SF of land and occupies the southeast corner of 64th Street S and 5th Avenue S. Access is available from 64th Street S, the Pinellas Trail, and a south-side alley, with large curb cuts along the east side of 64th Street S. Off-street parking and frontage along the trail complement the property's three-sided access.
Key Highlights
- 2,312 SF of air‑conditioned area plus a 348 SF garage
- 2,660 SF total GBA on a 13,362 SF site
- 0.31 AC commercially zoned parcel
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
$41,300
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
7.13%
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%
$826,000
$826.0K
Cap Rate 7%
$590,000
$590.0K
Cap Rate 9%
$458,889
$458.9K
Market Conditions
NOI Build-Up for 2,660 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
$69.3K $26.04/SF
− Vacancy
−$14.2K −$5.34/SF
EGI
$55.1K $20.70/SF
− OpEx
−$13.8K −$5.18/SF
NOI
$41.3K $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%
$826,000
Cap Rate 7%
$590,000
Cap Rate 9%
$458,889
Alternative Uses
Best Use
Office B
$590.0K
$516.3K – $688.3K
NOI $41,300 @ 7.0% cap · market cap 7.13%
Second Best
Mixed Use
$472.0K
$413.0K – $550.6K
NOI $33,037 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$691.9K
$605.4K – $807.2K
NOI $48,432 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
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
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Frequently Asked Questions
What type of property is this?
Office building - Commercially zoned office property with fenced storage, trail access, and off-street parking.
Where is this office building located?
The property is located at 510 64th Street S Saint Saint Petersburg, FL.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 2,312 SF of air‑conditioned area plus a 348 SF garage; 2,660 SF total GBA on a 13,362 SF site; 0.31 AC commercially zoned parcel
