Flex Property with Trail
New
For Sale
$895,000
Pending
701 49TH S, Gulfport, FL 33707
Two block buildings offer multiple small rooms, outdoor areas, and frontage along a regional trail.
Property Size3,516 SF
Lot Size0.31 Acres
Days on Market2
Property Features for 701 49TH S
General Information
Standard status
Pending
Size
3,516 SF
Lot size
0.31 Acres
Property subtype
Commercial
Zoning
Commercial General
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,839
Building Details
Building Size
3,516 SF
Year Built
1969
Buildings
2
Construction
concrete block
Listing Agency:
Bridgewater Commercial Real Estate
Listed By:
Kris Dumke · License #BK3319333
(813) 541-4254
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:35PM
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 Bridgewater Commercial Real Estate
Investment Insights
Based on property information with market context.
The property contains 4,924 square feet across two concrete block buildings: one measuring 3,460 square feet and the other 1,464 square feet. Multiple small rooms and studios shape the interiors, and a storage shed adds a separate structure. The 0.31-acre site includes more than 10 parking spaces and outdoor areas. Commercial General zoning supports a range of stated uses, including retail, office, personal services, restaurant, warehouse, trade shops, automotive and marine-related uses, and fitness; some uses are conditional.
The site has frontage on 49th Street South and directly along the Pinellas Trail. The road carries approximately 22,000 vehicles per day, while the trail records an average of 160,000 users monthly. The property is in Gulfport, Florida, and was built in 1969.
The site has frontage on 49th Street South and directly along the Pinellas Trail. The road carries approximately 22,000 vehicles per day, while the trail records an average of 160,000 users monthly. The property is in Gulfport, Florida, and was built in 1969.
Key Highlights
- 4,924 SF across two concrete block buildings: 3,460 SF and 1,464 SF
- 0.31‑acre site with 10+ parking spaces and a storage shed
- Frontage on 49th Street South and the Pinellas Trail
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
$76,452
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
8.54%
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%
$1,529,040
$1.5M
Cap Rate 7%
$1,092,171
$1.1M
Cap Rate 9%
$849,467
$849.5K
Market Conditions
NOI Build-Up for 4,924 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
$128.2K $26.04/SF
− Vacancy
−$26.3K −$5.34/SF
EGI
$101.9K $20.70/SF
− OpEx
−$25.5K −$5.18/SF
NOI
$76.5K $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%
$1,529,040
Cap Rate 7%
$1,092,171
Cap Rate 9%
$849,467
Alternative Uses
Best Use
Office B
$1.09M
$955.7K – $1.27M
NOI $76,452 @ 7.0% cap · market cap 8.54%
Second Best
Flex RnD
$636.4K
$556.9K – $742.5K
NOI $44,548 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,654 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Two block buildings offer multiple small rooms, outdoor areas, and frontage along a regional trail.
Where is this flex space located?
The property is located at 701 49TH S Gulfport, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 4,924 SF across two concrete block buildings: 3,460 SF and 1,464 SF; 0.31‑acre site with 10+ parking spaces and a storage shed; Frontage on 49th Street South and the Pinellas Trail
