Medical Office Suite with Treatment
New
For Sale
Contact for pricing
625 6th Avenue South, St Petersburg, FL 33701
Hospital-campus space includes a private patio and climate-controlled skywalk links to nearby medical facilities.
Property Size4,459 SF
Price / SF$538.24
Days on Market5
Property Features for 625 6th Avenue South
General Information
Standard status
Active
Size
4,459 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
private outdoor patio
climate-controlled skywalk connections
Building Details
Tenancy
Multi
Listing Agency:
Commercial Partners Realty
Listed By:
Harrison Gault · License #SL3611132
(727) 677-8070
Source:
Crexi
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:23PM
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 Commercial Partners Realty
Investment Insights
Based on property information with market context.
This 4,459-square-foot medical office suite at 625 6th Avenue South contains eight treatment rooms, seven equipped with sinks, and a private outdoor patio. Garage and valet parking serve the property. The space is positioned near the building’s main entrance, with climate-controlled skywalk connections to surrounding hospital campuses.
The property is on the Orlando Health Bayfront Hospital campus and directly adjacent to Johns Hopkins All Children’s Hospital. I-275 and Downtown St. Petersburg are accessible from the site. The suite has previously accommodated a day spa, dermatology clinic, and neuropsychiatry group, and other healthcare providers are located in the building.
The property is on the Orlando Health Bayfront Hospital campus and directly adjacent to Johns Hopkins All Children’s Hospital. I-275 and Downtown St. Petersburg are accessible from the site. The suite has previously accommodated a day spa, dermatology clinic, and neuropsychiatry group, and other healthcare providers are located in the building.
Key Highlights
- 4,459‑square‑foot medical office suite
- Eight treatment rooms, seven with sinks
- Private outdoor patio
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
$69,232
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
2.88%
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%
$1,384,640
$1.4M
Cap Rate 7%
$989,029
$989.0K
Cap Rate 9%
$769,244
$769.2K
Market Conditions
NOI Build-Up for 4,459 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
$116.1K $26.04/SF
− Vacancy
−$23.8K −$5.34/SF
EGI
$92.3K $20.70/SF
− OpEx
−$23.1K −$5.18/SF
NOI
$69.2K $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%
$1,384,640
Cap Rate 7%
$989,029
Cap Rate 9%
$769,244
Alternative Uses
Best Use
Office B
$989.0K
$865.4K – $1.15M
NOI $69,232 @ 7.0% cap · market cap 2.88%
Second Best
Healthcare Medical
$587.5K
$514.1K – $685.4K
NOI $41,126 @ 7.0% cap · market cap 1.71%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,187 @ 7.0% cap · market cap 3.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,221
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33701, FL
19,137
Population
13,434
Households
1.4
Avg Household Size
48
Median Age
55%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
7,088
Density / Sq Mi
$69,098
Median Household Income
$48,072
Median Earnings
$1,531
Median Rent
$590,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- EDGE Animal Hospital — 913 1st Ave N, St. Petersburg, FL 33705
- National Pet Vax — 805 dr m.l.k. jr st n, st. petersburg, fl 33701
- Mark A. Scribano, D.V.M. — 1401 4th St N, St. Petersburg, FL 33704
Frequently Asked Questions
What type of property is this?
Medical Office Space - Hospital-campus space includes a private patio and climate-controlled skywalk links to nearby medical facilities.
Where is this medical office space located?
The property is located at 625 6th Avenue South St Petersburg, FL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 4,459‑square‑foot medical office suite; Eight treatment rooms, seven with sinks; Private outdoor patio
