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    St. Pete Industrial Investment Opportunity Title is generated by Realmo AI

    8th Ave, St Petersburg, FL 33701

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    Fully occupied industrial property in a rapidly expanding St. Petersburg market.

    Type:Industrial
    Property size:
    24,000 SF
    Lot size:
    1.07 Acres
    Price / SF:
    $133/SF
    Added:
    Aug 27, 2024
    Days on Market:
    681
    Last Refresh:
    Jun 29 at 1:36 am

    Property Features for 8th Ave

    General Information

    Standard status
    Active
    Size
    24,000 SF
    Lot size
    1.07 Acres
    Property subtype
    Industrial

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    Tyler Kuhlman
    Tyler Kuhlman

    Listing office CBRE - Palm Beach County

    Listing date Aug 27, 2024

    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 CBRE - Palm Beach County

    HighLights

    • 100% Occupancy Rate
    • Located in rapidly expanding St. Petersburg market
    • Potential for rental rate increases to market rate
    • Well‑established industrial asset
    • Convenient location: 5 miles west of Downtown St. Pete and 5 miles east of St. Pete Beach
    • Eight standard industrial units ranging from 3,000 to 6,000 square feet

    Overview

    St. Pete Industrial is a commercial real estate property located in Saint Petersburg, FL, offering an investment opportunity. Constructed in 1979, the facility encompasses 24,000 rentable square feet and is situated on 1.07 acres. The property consists of eight standard industrial units, each ranging from 3,000 to 6,000 square feet. The occupancy rate is 100 percent. The property caters toward the industrial and professional users of the market, which has a population of 113,811 residents in a 3-mile radius. Located at 4049–4123 S 8th Avenue, the facility resides in the rapidly expanding St. Petersburg market, approximately five miles west of Downtown St. Pete, and only five miles east of St. Pete Beach.

    Local Financial Insights For Flex RnD

    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 $354.2k $14.76
    − Vacancy −$20.2k −$0.84
    EGI $334.0k $13.92
    − OpEx −$116.9k −$4.87
    NOI $217.1k $9.05
    24,000 SF · lease $14.76/SF/yr · vacancy 5.70% · expense 35.00%

    Alternative Uses

    Best Use
    Flex RnD
    $3.10M
    $2.71M – $3.62M (±1% cap)
    NOI $217,131 @ 7.0% cap · market cap 6.79%
    Second Best
    Industrial
    $2.51M
    $2.20M – $2.93M (±1% cap)
    NOI $176,013 @ 7.0% cap · market cap 5.50%
    Theoretical Best
    Office A
    $6.24M
    $5.46M – $7.28M (±1% cap)
    NOI $436,981 @ 7.0% cap · market cap 13.66%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Similar Places Nearby

    • VÄ“garosa Food Truck — 200 2nd Ave S #476, St. Petersburg, FL 33701
    • Catering St Pete — 259 Central Ave, St. Petersburg, FL 33701
    • Twin Palms Catering By Marisa — 550 1st Ave S, St. Petersburg, FL 33701

    Map

    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7871065
    Latitude
    27.9096357

    FAQs

    What type of property is this?
    Flex space - Fully occupied industrial property in a rapidly expanding St. Petersburg market.
    Where is this flex space located?
    The property is located at 8th Ave St Petersburg, FL.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: 100% Occupancy Rate; Located in rapidly expanding St. Petersburg market; Potential for rental rate increases to market rate
    More about this property
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