Retail Property with Corporate
For Sale
Contact for pricing
900 49th Street N, St Petersburg, FL 33710
Retail property guaranteed by Walgreens, a national pharmacy retailer.
Property Size15,042 SF
Price / SF$393.16
Days on Market141
Property Features for 900 49th Street N
General Information
Standard status
Active
Size
15,042 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$340,049
Building Details
Year Built
1998
Tenancy
Single
Listing Agency:
Stream Capital Partners
(312) 899-6664
Listed By:
Connor Shell · License #CA 01993313
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 11 at 4:26PM
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 Stream Capital Partners
Investment Insights
Based on property information with market context.
This commercial property, suitable for retail and drug store use, is guaranteed by Walgreens, a leading national pharmacy retailer with over 8,500 locations. The property offers a corporate-backed lease, potentially providing investors with a reliable and stable income stream. The property has a size of 15,042 square feet.
Key Highlights
- Strong Corporate Guarantor: Walgreens guarantees the lease.
- Walgreens is a leading national pharmacy retailer with over 8,500 locations.
- Reliable and stable corporate‑backed lease.
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
$167,192
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
2.83%
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%
$3,343,840
$3.3M
Cap Rate 7%
$2,388,457
$2.4M
Cap Rate 9%
$1,857,689
$1.9M
Market Conditions
NOI Build-Up for 15,042 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
$234.7K $15.60/SF
− Vacancy
−$11.7K −$0.78/SF
EGI
$222.9K $14.82/SF
− OpEx
−$55.7K −$3.70/SF
NOI
$167.2K $11.11/SF
Area
Pinellas County, FL
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
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%
$3,343,840
Cap Rate 7%
$2,388,457
Cap Rate 9%
$1,857,689
Alternative Uses
Best Use
Specialty Retail
$2.39M
$2.09M – $2.79M
NOI $167,192 @ 7.0% cap · market cap 2.83%
Second Best
Retail
$2.11M
$1.85M – $2.46M
NOI $147,675 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$3.91M
$3.42M – $4.56M
NOI $273,878 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
15k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 75%
Dining 15%
Beauty & Spa 9%
Dollar General
Shops & Services
5,772 visits/mo
0.2 miles
Mobil
Shops & Services
5,658 visits/mo
0.1 miles
SUBWAY
Dining
2,348 visits/mo
0.1 miles
Salon Centric
Beauty & Spa
1,404 visits/mo
0.1 miles
Demographics for 33710, FL
33,172
Population
16,767
Households
2
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
4,147
Density / Sq Mi
$76,908
Median Household Income
$46,520
Median Earnings
$1,577
Median Rent
$312,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Genoa Healthcare — 4024 Central Ave, St. Petersburg, FL 33711
- Sherilyn R. Smith, BS — 4024 Central Ave, St. Petersburg, FL 33711
- CVS Pharmacy — 5801 Central Ave, St. Petersburg, FL 33710, United States
- Siesta Botanicals — 5225 8th Ave S, Gulfport, FL 33707
Frequently Asked Questions
What type of property is this?
Drug store - Retail property guaranteed by Walgreens, a national pharmacy retailer.
Where is this drug store located?
The property is located at 900 49th Street N St Petersburg, FL.
What is the asking price?
The asking price for this property is $5,913,896.
What are key features of this property?
This property features: Strong Corporate Guarantor: Walgreens guarantees the lease.; Walgreens is a leading national pharmacy retailer with over 8,500 locations.; Reliable and stable corporate‑backed lease.
