Two-Story Office Building with
New
For Sale
$1,500,000
7024 CENTRAL Ave, St Petersburg, FL 33707
Two-story Class B office with abundant natural light, wheelchair-accessible entry, and ample parking.
Property Size4,960 SF
Price / SF$302.42
Days on Market2
Property Features for 7024 CENTRAL Ave
General Information
Standard status
Active
Size
4,960 SF
Class
Class B
Total Parking Spaces
16
Property subtype
Commercial
Additional Details
Public Transit
Yes
Amenities
high ceilings
wood flooring
natural light
lobby
private offices
open workspace areas
conference room
kitchen/breakroom
restroom facilities
central air conditioning
wheelchair-accessible entry
rear stair access
Building Details
Building Size
4,960 SF
Year Built
1922
Buildings
1
Stories
2
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Leverocks Realty LLC
(727) 432-3483
Listed By:
Zach Lewis · License #3412732
(727) 432-3483
Source:
Elliman
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 4:32AM
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 Leverocks Realty LLC
Investment Insights
Based on property information with market context.
7024 Central Avenue is a two-story, 4,960-sqft Class B office building on St. Petersburg’s West Central Avenue corridor. The property features a welcoming lobby, high ceilings, abundant natural light, and a versatile professional office layout with private offices, open workspace areas, a conference room, kitchen/breakroom, and restroom facilities.
The second floor is largely occupied by professional office tenants, with only one upstairs suite currently available. The owner’s company currently occupies much of the first floor and plans to relocate, creating flexibility for an owner-user to occupy nearly the entire first floor while continuing to collect rent from the upstairs tenants. Alternatively, the first-floor offices can be leased individually for a multi-tenant office strategy.
Operational features include central air conditioning, wheelchair-accessible entry, and rear stair access to the second-floor suites. Parking is a major advantage with 16 total spaces: 12 on site and four additional spaces directly behind the building across the alley. Built in 1922, the building is offered with showings by appointment and tenants in place—please do not disturb the existing tenants.
The second floor is largely occupied by professional office tenants, with only one upstairs suite currently available. The owner’s company currently occupies much of the first floor and plans to relocate, creating flexibility for an owner-user to occupy nearly the entire first floor while continuing to collect rent from the upstairs tenants. Alternatively, the first-floor offices can be leased individually for a multi-tenant office strategy.
Operational features include central air conditioning, wheelchair-accessible entry, and rear stair access to the second-floor suites. Parking is a major advantage with 16 total spaces: 12 on site and four additional spaces directly behind the building across the alley. Built in 1922, the building is offered with showings by appointment and tenants in place—please do not disturb the existing tenants.
Key Highlights
- Two‑story, 4,960‑sqft Class B office building with high ceilings and wood flooring
- Second floor largely occupied by professional tenants; only one upstairs suite currently available
- Owner occupies much of the first floor and plans to relocate, supporting near‑term first‑floor availability
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.2k | $26.04 |
| − Vacancy | −$26.5k | −$5.34 |
| EGI | $102.7k | $20.70 |
| − OpEx | −$25.7k | −$5.18 |
| NOI | $77.0k | $15.53 |
4,960 SF · lease $26.04/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.10M
$962.6K – $1.28M
NOI $77,011 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,309 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
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?
Office building - Two-story Class B office with abundant natural light, wheelchair-accessible entry, and ample parking.
Where is this office building located?
The property is located at 7024 CENTRAL Ave St Petersburg, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two‑story, 4,960‑sqft Class B office building with high ceilings and wood flooring; Second floor largely occupied by professional tenants; only one upstairs suite currently available; Owner occupies much of the first floor and plans to relocate, supporting near‑term first‑floor availability
