Two-Story Office Building with
7321 1st Avenue S St Petersburg, FL 33707
7321 1st Avenue S, St Petersburg, FL, 33707
$790,000
For Sale
$790,000
Two-story office building includes four office spaces and high-ceiling garage bays on a CRT-1 lot with option to add two lots.
Property Size2,812 SF
Lot Size0.17 Acres
Price / SF$280.94
Days on Market190
Property Features for 7321 1st Avenue S
General Information
- Standard status
- Active
- Size
- 2,812 SF
- Lot size
- 0.17 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1979
Listing agency
RE/MAX ACTION FIRST OF FLORIDA
(727) 777-0328
Listed by
David Crawford · License #3422506
(727) 777-0328
Source
Xome
Added: Jan 13 Updated: Jul 21 at 7:36AM Checked: Jul 21 at 7:36AM
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 RE/MAX ACTION FIRST OF FLORIDA
Investment Insights
Based on property information with market context.
This two-story office building includes four office spaces and two bathrooms, along with a lobby/reception area. The property also features industrial elements designed for business use with trucks and/or heavy equipment, including fenced outdoor storage, indoor storage areas, and high-ceiling garage bays with a two-car industrial garage. The upstairs bonus space can support multiple venue-style uses, and an alley running behind the building and lots can accommodate a variety of uses.
The property sits on a 0.17-acre lot zoned CRT-1, with an option to purchase two contiguous lots for a total of 0.54 acres; both additional lots are cleared and graded. The offering also includes plans, renderings, and permitting to construct 12 open-concept townhomes, with approved plans for three-story, three-bedroom units requiring all three lots and demolition of the existing building.
Both vacant lots may be purchased separately under MLS #TB8470017 and TB8470032.
The property sits on a 0.17-acre lot zoned CRT-1, with an option to purchase two contiguous lots for a total of 0.54 acres; both additional lots are cleared and graded. The offering also includes plans, renderings, and permitting to construct 12 open-concept townhomes, with approved plans for three-story, three-bedroom units requiring all three lots and demolition of the existing building.
Both vacant lots may be purchased separately under MLS #TB8470017 and TB8470032.
Key Highlights
- Two‑story office building built in 1979 on a 0.17‑acre CRT‑1‑zoned lot
- Includes 4 office spaces and 2 bathrooms, with a lobby/reception area
- On‑site industrial‑style space features a 2‑car garage and high‑ceiling garage bays
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 | $73.2k | $26.04 |
| − Vacancy | −$15.0k | −$5.34 |
| EGI | $58.2k | $20.70 |
| − OpEx | −$14.6k | −$5.18 |
| NOI | $43.7k | $15.53 |
2,812 SF · lease $26.04/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$623.7K
$545.8K – $727.7K
NOI $43,660 @ 7.0% cap · market cap 5.53%
Second Best
Flex RnD
$363.4K
$318.0K – $424.0K
NOI $25,441 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$731.4K
$640.0K – $853.3K
NOI $51,200 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Tilney Pools
General Contractor
Baywalk Media LLC
Publishing House
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Two-story office building includes four office spaces and high-ceiling garage bays on a CRT-1 lot with option to add two lots.
Where is this office building located?
The property is located at 7321 1st Avenue S St Petersburg, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Two‑story office building built in 1979 on a 0.17‑acre CRT‑1‑zoned lot; Includes 4 office spaces and 2 bathrooms, with a lobby/reception area; On‑site industrial‑style space features a 2‑car garage and high‑ceiling garage bays
