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    Two-Story Office with Garage Bays Title is generated by Realmo AI

    7321 1ST AVENUE S, St Petersburg, FL 33707

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    Pending
    $790,000

    Office - ST PETERSBURG, FL

    Type:Office
    Property size:
    1,825 SF
    Lot size:
    0.17 Acres
    Added:
    Jan 28, 2026
    Days on Market:
    128
    Last Refresh:
    Jun 5 at 1:06 am

    Property Features for 7321 1ST AVENUE S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Exterior features
    Paved
    Standard status
    Pending
    APN
    19-31-16-20484-042-0100
    Size
    1,825 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    7220.77

    Utilities

    Heating system
    Central, Electric (Heating)

    Building Details

    Year built
    1979
    Flooring type
    Carpet, Tile, Vinyl
    Building materials
    Block, Stucco
    Architectural style
    Other

    We can help!

    Listing Contact
    David Crawford

    Listing agent David Crawford License #3422506

    Listing office RE/MAX ACTION FIRST OF FLORIDA 25 Causeway Blvd Ste. 101, Clearwater, FL

    Listing date Jan 28, 2026

    MLS# TB8470111 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two‑story office building with industrial 2‑car garage on a 0.17‑acre lot; Year built 1979
    • Property zoned CRT‑1; option to purchase two contiguous lots (0.17 acres each) for 0.54 total acres
    • Existing building includes 4 office spaces, 2 bathrooms, and lobby/reception area; paved exterior and fenced outdoor storage noted
    • Vacant lots are cleared and graded; alley runs behind building and lots and can accommodate uses for office or residences
    • Plans, renderings, and permitting available to build 12 open‑concept townhomes, requiring all three lots and demolition of existing building
    • Approved townhome plans: 3‑story, 3‑bedroom, 2 full baths, 2 half baths per unit; optional private elevators and 2‑car garages

    Overview

    This two-story office building sits on a 0.17-acre lot and includes an industrial 2-car garage, indoor storage areas, and outdoor storage opportunities. The building features high-ceiling garage bays and an upstairs bonus space, along with a lobby/reception area and four office spaces. There are two bathrooms, supporting a layout well-suited for service and contractor-style businesses that need both office work areas and space for equipment.

    The property is located on a well-traveled corridor in St. Petersburg, with an alley running behind both the building and the associated lots, which can support a variety of uses for either the office or potential residences. The listing also notes plans, renderings, and permitting activity for a townhome project, and the two cleared and graded lots can be purchased separately or together, subject to the stated approval requirements.

    For tenants and operators, the configuration offers dedicated office space and practical storage/garage functionality for companies with trucks and/or heavy equipment such as HVAC, plumbing, or general contracting firms. For buyers with a development path in mind, the information provided describes approved plans for constructing three-story, three-bedroom townhomes, contingent on utilizing all lots and demolishing the existing building as noted in the submission.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tilney Pools General Contractor Baywalk Media LLC Publishing House

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.739971
    Latitude
    27.770211

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    FAQs

    What type of property is this?
    Office building - Two-story office building with industrial-style storage and garage bays on a CRT-1 lot, plus options for contiguous expansion.
    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 with industrial 2‑car garage on a 0.17‑acre lot; Year built 1979; Property zoned CRT‑1; option to purchase two contiguous lots (0.17 acres each) for 0.54 total acres; Existing building includes 4 office spaces, 2 bathrooms, and lobby/reception area; paved exterior and fenced outdoor storage noted
    (727) 777-0328
    We can help!
    Listing Contact
    David Crawford
    Real Estate License ID: 3422506
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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