Turnkey Medical Office
For Sale
Contact for pricing
6711 38th Avenue North, St Petersburg, FL 33710
Turnkey medical suite with exam rooms, X-ray room, and parking, positioned for healthcare users in St. Petersburg.
Property Size2,000 SF
Lot Size0.28 Acres
Price / SF$550
Days on Market79
Property Features for 6711 38th Avenue North
General Information
Standard status
Active
Size
2,000 SF
Class
B
Total Parking Spaces
15
Lot size
0.28 Acres
Property subtype
Office
Zoning
CRS-1
Lease Type
NNN
Additional Details
Business Included
Yes
Building Details
Year Built
1980
Buildings
1
Tenancy
Single
Listing Agency:
Commercial Partners Realty
Listed By:
Harrison Gault · License #SL3611132
Source:
Crexi
Added: May 27
Changed: Aug 8
Last Checked: Aug 8 at 3:25PM
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 turnkey medical office building is offered for sale with a current configuration that supports clinical use. The space includes four exam rooms, a private office, reception area, lab, break room, an X-ray room, and three bathrooms. Improvements are already in place for medical operations, reducing build-out needs for an owner-user or healthcare-related operator.
The property is located at 6711 38th Avenue North in St. Petersburg. It is positioned near HCA Florida St. Pete Hospital, Northside Hospital, and Bay Pines, and benefits from accessibility along 38th Ave N and 66th St N. Monument signage and immediate availability support visibility and efficient onboarding for patients and staff.
With 15 parking spaces, the layout and supporting rooms are well-suited for a practice looking for an operational medical environment rather than a raw shell. The combination of clinical rooming, reception, and practical patient flow makes the property a straightforward fit for an owner-user medical practice or a healthcare operator seeking an immediately usable facility.
The property is located at 6711 38th Avenue North in St. Petersburg. It is positioned near HCA Florida St. Pete Hospital, Northside Hospital, and Bay Pines, and benefits from accessibility along 38th Ave N and 66th St N. Monument signage and immediate availability support visibility and efficient onboarding for patients and staff.
With 15 parking spaces, the layout and supporting rooms are well-suited for a practice looking for an operational medical environment rather than a raw shell. The combination of clinical rooming, reception, and practical patient flow makes the property a straightforward fit for an owner-user medical practice or a healthcare operator seeking an immediately usable facility.
Key Highlights
- Medical office at 6711 38th Ave N in St. Petersburg with 2,000 SF on 0.28 AC (built in 1980)
- Currently configured with 4 exam rooms, private office, reception area, lab, break room, and an X‑ray room
- Includes 3 bathrooms
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
$31,053
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
2.82%
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%
$621,060
$621.1K
Cap Rate 7%
$443,614
$443.6K
Cap Rate 9%
$345,033
$345.0K
Market Conditions
NOI Build-Up for 2,000 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
$52.1K $26.04/SF
− Vacancy
−$10.7K −$5.34/SF
EGI
$41.4K $20.70/SF
− OpEx
−$10.4K −$5.18/SF
NOI
$31.1K $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%
$621,060
Cap Rate 7%
$443,614
Cap Rate 9%
$345,033
Alternative Uses
Best Use
Office B
$443.6K
$388.2K – $517.6K
NOI $31,053 @ 7.0% cap · market cap 2.82%
Second Best
Healthcare Medical
$263.5K
$230.6K – $307.4K
NOI $18,446 @ 7.0% cap · market cap 1.68%
Theoretical Best
Office A
$520.2K
$455.2K – $606.9K
NOI $36,415 @ 7.0% cap · market cap 3.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Balanced
Demand for This Use
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?
Medical Office Space - Turnkey medical suite with exam rooms, X-ray room, and parking, positioned for healthcare users in St. Petersburg.
Where is this medical office space located?
The property is located at 6711 38th Avenue North St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Medical office at 6711 38th Ave N in St. Petersburg with 2,000 SF on 0.28 AC (built in 1980); Currently configured with 4 exam rooms, private office, reception area, lab, break room, and an X‑ray room; Includes 3 bathrooms
