Retail Strip with
For Sale
$2,200,000
8601 49th Street N, Pinellas Park, FL 33782
9,600-SF retail strip mall available for purchase.
Property Size9,600 SF
Price / SF$229.17
Days on Market90
Property Features for 8601 49th Street N
General Information
Standard status
Active
Size
9,600 SF
Property subtype
Shopping Strip
Amenities
RETAIL STRIP CENTER WITH UPSIDE: Occupied by a strong mix of local retail and service tenants with strong leasing upside. Less than 1 year remaining on each lease with below-market rents.
ALTERNATE SINGLE TENANT REDEVELOPMENT OPPORTUNITY: Potential for redevelopment into single tenant retail space with B-1 Commercial zoning and large +/-0.71 acre lot.
DENSE RETAIL PROXIMITY: Hard, signalized corner location with frontage along 49th St N, near multiple retail hubs.
SURROUNDING RESIDENTIAL DENSITY: Strategically positioned next to multiple apartment complexes and residential neighborhoods.
EXCELLENT CONNECTIVITY: Convenient access to US-19 from 49th St N, which sees approximately 39,000 vehicles per day (VPD), 8 miles from downtown St Petersburg and 4 miles from St. Pete–Clearwater International Airport.
RETAIL EPICENTER: Surrounded by national powerhouse retailers including Walmart, Home Depot, Target, Publix, Wawa, Dunkin, Sonic, McDonald's, Regal Cinema, Chick Fil A, Starbucks, and much more.
STRONG DEMOGRAPHICS: The population within a 5-mile radius is over 264,000 with an average household income of $85,385.
TAMPA MSA: Part of the Tampa-St. Petersburg metro, which has grown to over 3.3 million residents with a favorable business climate and diverse economy.
Building Details
Building Size
9,600 SF
Year Built
1975
Listing Agency:
Marcus & Millichap | The Patel Yozwiak Group
(813) 387-4798
Listed By:
Sam Kelley · License #License(s): FL: SL3588576
(813) 387-4798
Source:
Marcusmillichap
Added: May 27
Changed: Aug 23
Last Checked: Aug 24 at 3:18AM
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 Marcus & Millichap | The Patel Yozwiak Group
Investment Insights
Based on property information with market context.
This commercial real estate offering features a 9,600-square-foot retail strip mall. The property is suitable for retail and other commercial uses.
Key Highlights
- 9,600‑sf retail strip
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
$94,248
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
4.28%
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%
$1,884,960
$1.9M
Cap Rate 7%
$1,346,400
$1.3M
Cap Rate 9%
$1,047,200
$1.0M
Market Conditions
NOI Build-Up for 9,600 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
$144.0K $15.00/SF
− Vacancy
−$9.4K −$0.98/SF
EGI
$134.6K $14.03/SF
− OpEx
−$40.4K −$4.21/SF
NOI
$94.2K $9.82/SF
Area
Pinellas County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,884,960
Cap Rate 7%
$1,346,400
Cap Rate 9%
$1,047,200
Alternative Uses
Best Use
Retail
$1.35M
$1.18M – $1.57M
NOI $94,248 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.50M
$2.18M – $2.91M
NOI $174,792 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 49%
Shell
Shops & Services
13,879 visits/mo
0.5 miles
Dunkin' Donuts
Dining
11,724 visits/mo
0.1 miles
Parkside Cafe
Dining
6,946 visits/mo
0.3 miles
Shell
Shops & Services
6,534 visits/mo
0.5 miles
Pizza Hut
Dining
2,120 visits/mo
0.3 miles
Demographics for 33782, FL
22,198
Population
10,581
Households
2.1
Avg Household Size
50
Median Age
29%
College-Educated
88%
High-School Grad
5.4 sq mi
ZIP Area
4,111
Density / Sq Mi
$65,487
Median Household Income
$41,676
Median Earnings
$1,767
Median Rent
$253,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - 9,600-SF retail strip mall available for purchase.
Where is this strip mall located?
The property is located at 8601 49th Street N Pinellas Park, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 9,600‑sf retail strip
