Two-Story Corner Office
721 1st Avenue North St Petersburg, FL 33701
721 1st Avenue North, St Petersburg, FL, 33701
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For Sale
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Two-story office building with reception, conference rooms, private offices, and employee break areas in a highly visible downtown corner setting.
Property Size13,739 SF
Price / SF$327.53
Days on Market20
Property Features for 721 1st Avenue North
General Information
- Standard status
- Active
- Size
- 13,739 SF
- Property subtype
- Office
Building Details
- Year Built
- 1920
Listing agency
Vector Commercial Real Estate
Listed by
Mike Heretick · License #FL 3221420
Source
Crexi
Added: Jul 2 Updated: Jul 20 at 11:38PM Checked: Jul 20 at 11:38PM
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 Vector Commercial Real Estate
Investment Insights
Based on property information with market context.
721 1st Avenue North is a distinguished two-story office building constructed in 1920 and 1938, totaling approximately 13,739 square feet. The interior is designed for day-to-day office operations, with a reception area, multiple conference rooms, private offices, and employee break areas.
Located on the prominent corner of 1st Avenue North and 8th Street North in Downtown St. Petersburg, the property is positioned for visibility and is within walking distance of downtown restaurants, retail, hotels, and cultural attractions. The building is zoned DC-1 (Downtown Center-1), offering flexibility for office, retail, residential, hospitality, and mixed-use uses.
Located on the prominent corner of 1st Avenue North and 8th Street North in Downtown St. Petersburg, the property is positioned for visibility and is within walking distance of downtown restaurants, retail, hotels, and cultural attractions. The building is zoned DC-1 (Downtown Center-1), offering flexibility for office, retail, residential, hospitality, and mixed-use uses.
Key Highlights
- Two‑story office building built in 1920 and 1938, offering approximately 13,739 SF of space
- Downtown St. Petersburg corner location at 1st Avenue North and 8th Street North
- Interior includes reception area, multiple conference rooms, private offices, and employee break areas
Local 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 | $357.8k | $26.04 |
| − Vacancy | −$73.3k | −$5.34 |
| EGI | $284.4k | $20.70 |
| − OpEx | −$71.1k | −$5.18 |
| NOI | $213.3k | $15.53 |
13,739 SF · lease $26.04/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.05M
$2.67M – $3.56M
NOI $213,317 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.57M
$3.13M – $4.17M
NOI $250,154 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Antonetti Capital Management ...
Financial Advisor
Bayway Law, PA
Law Firm
Englander & Fischer
Law Firm
Immigration Law Group ...
Law Firm
Law Office of Steven ...
Law Firm
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FAQs
What type of property is this?
Office building - Two-story office building with reception, conference rooms, private offices, and employee break areas in a highly visible downtown corner setting.
Where is this office building located?
The property is located at 721 1st Avenue North St Petersburg, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Two‑story office building built in 1920 and 1938, offering approximately 13,739 SF of space; Downtown St. Petersburg corner location at 1st Avenue North and 8th Street North; Interior includes reception area, multiple conference rooms, private offices, and employee break areas
