Medical Office Condo with Procedure
New
For Sale
$1,725,000
625 6TH S 405, St Petersburg, FL 33701
Fourth-floor medical suite with pediatric-office buildout, clinical rooms, natural light, and controlled building access.
Property Size3,704 SF
Price / SF$465.71
Days on Market2
Property Features for 625 6TH S 405
General Information
Standard status
Active
Size
3,704 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Floor
4
Taxes and HOA fees
Annual Taxes
$15,061
Amenities
air conditioned skywalk ways
24/7 security
access control
Building Details
Building Size
3,704 SF
Year Built
2008
Listed By:
Pete Apostolou
(727) 647-0342
Source:
Elliman
Added: Sep 11
Last Checked: Sep 11 at 2:17PM
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 Pete Apostolou
Investment Insights
Based on property information with market context.
This 3,704 sq ft medical office condo occupies the fourth floor of a professionally managed building constructed in 2008. The existing pediatric-office buildout includes 8 offices, a reception area, nurse station, 2 EEG Rooms, a viewing/procedure room, conference/break room, and an interior restroom. Common-area restrooms are available on every floor, and the suite receives abundant natural light.
The property includes access to air-conditioned skywalks connecting the surrounding medical facilities, along with an attached 8-story parking garage and free valet parking service. Building amenities include 24/7 security and access control. The location is near downtown St. Petersburg and I-275, with bikeScore 94, walkScore 97, and transitScore 56.
The property includes access to air-conditioned skywalks connecting the surrounding medical facilities, along with an attached 8-story parking garage and free valet parking service. Building amenities include 24/7 security and access control. The location is near downtown St. Petersburg and I-275, with bikeScore 94, walkScore 97, and transitScore 56.
Key Highlights
- 3,704 sq ft fourth‑floor medical office condo
- 8 offices with reception area and nurse station
- 2 EEG Rooms plus viewing/procedure room
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
$57,510
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
3.33%
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%
$1,150,200
$1.2M
Cap Rate 7%
$821,571
$821.6K
Cap Rate 9%
$639,000
$639.0K
Market Conditions
NOI Build-Up for 3,704 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
$96.5K $26.04/SF
− Vacancy
−$19.8K −$5.34/SF
EGI
$76.7K $20.70/SF
− OpEx
−$19.2K −$5.18/SF
NOI
$57.5K $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%
$1,150,200
Cap Rate 7%
$821,571
Cap Rate 9%
$639,000
Alternative Uses
Best Use
Office B
$821.6K
$718.9K – $958.5K
NOI $57,510 @ 7.0% cap · market cap 3.33%
Second Best
Healthcare Medical
$488.0K
$427.0K – $569.4K
NOI $34,163 @ 7.0% cap · market cap 1.98%
Theoretical Best
Office A
$963.4K
$843.0K – $1.12M
NOI $67,441 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fourth-floor medical suite with pediatric-office buildout, clinical rooms, natural light, and controlled building access.
Where is this medical office space located?
The property is located at 625 6TH S 405 St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: 3,704 sq ft fourth‑floor medical office condo; 8 offices with reception area and nurse station; 2 EEG Rooms plus viewing/procedure room
