Office Building with Fenced
For Sale
$595,000
6500 1ST N AVENUE, St Petersburg, FL 33710
Configured for professional use with multiple offices, shared work areas, dedicated parking, and secured outdoor storage.
Property Size1,791 SF
Price / SF$332.22
Days on Market517
Property Features for 6500 1ST N AVENUE
General Information
Standard status
Active
Size
1,791 SF
Total Parking Spaces
10
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$5,723
Amenities
reception area
conference room
break area
fenced area for storage
Building Details
Year Built
1950
Listing Agency:
WEICHERT REALTORS EXCLUSIVE PROPERTIES
(727) 410-7064
Listed By:
Peter Chicouris · License #3373014
(727) 410-7064
Source:
Exitrealty
Added: Apr 2, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:01PM
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 WEICHERT REALTORS EXCLUSIVE PROPERTIES
Investment Insights
Based on property information with market context.
This 1,791-square-foot office building, constructed in 1950, includes six offices supported by a reception area, conference room, and break area. The layout provides a combination of private workspaces and shared areas within a single professional setting. A fenced outdoor section adds dedicated storage space.
The property is located at 6500 1ST N AVENUE in St. Petersburg, Florida 33710. Ten parking spaces are included, and the building is not in a flood zone.
The property is located at 6500 1ST N AVENUE in St. Petersburg, Florida 33710. Ten parking spaces are included, and the building is not in a flood zone.
Key Highlights
- 1,791 SF office building constructed in 1950
- Six offices with reception, conference, and break areas
- Ten parking spaces
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
$27,808
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
4.67%
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%
$556,160
$556.2K
Cap Rate 7%
$397,257
$397.3K
Cap Rate 9%
$308,978
$309.0K
Market Conditions
NOI Build-Up for 1,791 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
$46.6K $26.04/SF
− Vacancy
−$9.6K −$5.34/SF
EGI
$37.1K $20.70/SF
− OpEx
−$9.3K −$5.18/SF
NOI
$27.8K $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%
$556,160
Cap Rate 7%
$397,257
Cap Rate 9%
$308,978
Alternative Uses
Best Use
Office B
$397.3K
$347.6K – $463.5K
NOI $27,808 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$465.9K
$407.6K – $543.5K
NOI $32,610 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,089
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?
Office building - Configured for professional use with multiple offices, shared work areas, dedicated parking, and secured outdoor storage.
Where is this office building located?
The property is located at 6500 1ST N AVENUE St Petersburg, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 1,791 SF office building constructed in 1950; Six offices with reception, conference, and break areas; Ten parking spaces
