Standalone Office
For Sale
Contact for pricing
5544 Central Ave, St Petersburg, FL 33707
Fully renovated 5,998 SF office building with private parking, private offices, open cubicle workspace, and conference room.
Property Size5,998 SF
Price / SF$416.81
Days on Market505
Property Features for 5544 Central Ave
General Information
Standard status
Active
Size
5,998 SF
Class
C
Property subtype
Office, Retail
Lease Type
NNN
Additional Details
Traffic Count
15,000 vehicles/day
Building Details
Year Built
1970
Stories
2
Tenancy
Single
Listing Agency:
KW Commercial St. Petersburg
Listed By:
Jon Wittner · License #SL637643
Source:
Crexi
Added: Apr 19, 2025
Changed: Aug 27
Last Checked: Sep 1 at 6:10PM
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 KW Commercial St. Petersburg
Investment Insights
Based on property information with market context.
This fully renovated standalone office building is move-in ready and offers a functional mix of private offices and open workspace with cubicles, along with a conference room. The building includes restrooms on both floors, a break room with kitchen, a built-in white noise system, and both an elevator and two staircases. A security system is in place, and the property is noted as having a roof warranty in effect.
The building is located at the corner of Central Ave and 1st Ave South in St. Petersburg, Florida, in a high-traffic area with signage visibility. The property also features a large private parking lot.
Interior features support day-to-day office operations, including dedicated work areas across floors and the convenience of elevator access.
The building is located at the corner of Central Ave and 1st Ave South in St. Petersburg, Florida, in a high-traffic area with signage visibility. The property also features a large private parking lot.
Interior features support day-to-day office operations, including dedicated work areas across floors and the convenience of elevator access.
Key Highlights
- Fully renovated standalone office building with 5,998 SF (year built 1970)
- Large private parking lot plus office space including private offices, open cubicle workspace, and a conference room
- Building amenities include restrooms on both floors, break room with kitchen, security system, elevator, and two staircases
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
$93,127
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
3.73%
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%
$1,862,540
$1.9M
Cap Rate 7%
$1,330,386
$1.3M
Cap Rate 9%
$1,034,744
$1.0M
Market Conditions
NOI Build-Up for 5,998 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
$156.2K $26.04/SF
− Vacancy
−$32.0K −$5.34/SF
EGI
$124.2K $20.70/SF
− OpEx
−$31.0K −$5.18/SF
NOI
$93.1K $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%
$1,862,540
Cap Rate 7%
$1,330,386
Cap Rate 9%
$1,034,744
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $93,127 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,209 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 33707, FL
24,646
Population
16,579
Households
1.5
Avg Household Size
58
Median Age
40%
College-Educated
95%
High-School Grad
5.3 sq mi
ZIP Area
4,650
Density / Sq Mi
$68,560
Median Household Income
$45,513
Median Earnings
$1,512
Median Rent
$344,600
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 - Fully renovated 5,998 SF office building with private parking, private offices, open cubicle workspace, and conference room.
Where is this office building located?
The property is located at 5544 Central Ave St Petersburg, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Fully renovated standalone office building with 5,998 SF (year built 1970); Large private parking lot plus office space including private offices, open cubicle workspace, and a conference room; Building amenities include restrooms on both floors, break room with kitchen, security system, elevator, and two staircases
