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    Warehouse Arts District Flex Space Title is generated by Realmo AI

    2233 3rd Ave S, St Petersburg, FL 33712

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    Remodeled warehouse/office space in the Warehouse Arts District.

    Type:Industrial
    Property size:
    27,758 SF
    Added:
    Aug 4, 2022
    Days on Market:
    1402
    Last Refresh:
    May 13 at 8:06 pm

    Property Features for 2233 3rd Ave S

    General Information

    Standard status
    Active
    Size
    27,758 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1959

    Spaces For Lease

    at 2233 3rd Ave S Contact us

    We can help!

    Listing Contact
    Joe Esposito

    Listing agent Joe Esposito License #FL SL3384847

    Listing office AXXOS

    Listing date Aug 4, 2022

    Source Crexi

    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 AXXOS

    HighLights

    • Prime location in the famed Warehouse Arts District of St. Petersburg, near I‑275 and Downtown St. Pete.
    • Flexible leasing options: entire 27,758 SF or demised space, with potential to combine with adjacent property for approximately 40,000 SF.
    • Newly remodeled, hip and cool warehouse/office space with modern industrial chic finishes.
    • Zoned IT (Industrial Traditional) allowing for multiple uses including creative space, brewery/distillery, manufacturing, warehousing, and more.
    • Features 4,800 SF of modern office space with ADA restrooms, glass wall conference room, and private offices.
    • Includes 1200 AMPS of 3 Phase Power and 2 dock wells with covered canopy and drive‑in door for easy loading/unloading.

    Overview

    Located in the Warehouse Arts District of St. Petersburg, Florida, this property offers leasing opportunities minutes from I-275 and Downtown St. Pete. The available space includes 27,758 square feet of remodeled warehouse/office space. The property features 4,800 square feet of modern office space with ADA restrooms, a glass wall conference room, and private offices surrounding a larger open office area. The remaining 21,458 square feet consist of fully air-conditioned warehouse space. An additional 1,500 square feet of warehouse space with 4 dock-high roll-up doors will become available in Q1 of 2024. The property is zoned IT (Industrial Traditional), allowing for uses such as artistic creative space, studio/creative uses, brewery/microbrewery/distillery, light and heavy manufacturing, warehousing and distribution, catering/commissary, mixed-use, indoor recreation, martial arts, yoga and dance, R&D, and showroom. The site includes 1200 AMPS of 3-phase power, 2 dock wells with covered canopy, and a drive-in door for easy loading/unloading. The space can be combined with an adjacent property at 2200 2nd Ave S, potentially creating approximately 40,000 square feet across two buildings on a single city block.
    Property Profile Location Intelligence

    Current Use by Public Records

    Engineered Fluids, Inc. Chemical Plant Gulf & Bay Dock ... Construction Company Gulf and Bay Dock ... Construction Company

    Suggested Use

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

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

    Similar Places Nearby

    • Ameenahs Catering & Events Design,LLC — 2213 6th Ave S, St. Petersburg, FL 33705
    • Just 1 Taste of STL — 901 22nd St S, St. Petersburg, FL 33712
    • Tara's Kitchen — 833 22nd St S, St. Petersburg, FL 33712
    • Heavy's Restaurant and take out — 911 22nd St S, St. Petersburg, FL 33712
    • Bayboro Brewing Co. — 2390 5th Ave S, St. Petersburg, FL 33712

    Location Insight

    • Map
    • Local Demand
    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6637307
    Latitude
    27.7686462

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    FAQs

    What type of property is this?
    Flex space - Remodeled warehouse/office space in the Warehouse Arts District.
    Where is this flex space located?
    The property is located at 2233 3rd Ave S St Petersburg, FL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Prime location in the famed Warehouse Arts District of St. Petersburg, near I‑275 and Downtown St. Pete.; Flexible leasing options: entire 27,758 SF or demised space, with potential to combine with adjacent property for approximately 40,000 SF.; Newly remodeled, hip and cool warehouse/office space with modern industrial chic finishes.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joe Esposito
    Real Estate License ID: FL SL3384847
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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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    2233 3rd Ave S, St. Petersburg, FL 33712
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