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    Baypoint Commerce Ctr St St. Petersburg, FL 33716

    Sponsored
    For Lease
    Contact for pricing

    Prime St. Petersburg retail space, multiple units available.

    Lot size:
    700,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    Baypoint Commerce Center offers an exceptional retail investment opportunity in St. Petersburg, Florida. This 15-building campus boasts over 700,000 square feet of total commercial space, situated on a 2.057-acre lot in Pinellas County (zip code 33716). The property, built in 1971, has undergone a significant multi-million dollar renovation and modernization, featuring upgraded common area lobbies and parking areas, new signage, improved lighting, and enhanced outdoor spaces including patios, sidewalks, and benches. Currently, there are 46,641 square feet of vacant space available, divisible into units as small as 1,367 square feet, with a maximum contiguous space of 24,982 square feet. The property provides a 5/1,000 square foot parking ratio, ensuring ample parking for tenants and customers. Its convenient location directly off I-275, minutes from the Gandy Bridge and Courtney Campbell Causeway, provides easy access to Tampa and other key areas. This is a rare opportunity to acquire a well-maintained, highly visible retail center in a thriving market. The property is classified as retail commercial with multiple tenancies.

    Property Features for 0 Baypoint Commerce Ctr St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    700,000 SF

    Building Details

    Year Built
    1971
    Buildings
    15

    Unit(s) available at that property

    Space
    Gilchrist Building Suite 200
    Size
    10,518 SF
    Space
    Gilchrist Building Suite 201
    Size
    4,552 SF
    Space
    Gilchrist Building Suite 202
    Size
    2,863 SF
    Space
    Gilchrist Building Suite 204
    Size
    1,367 SF
    Space
    Gilchrist Building Suite 206
    Size
    2,359 SF
    Space
    Baker Building
    Size
    52,347 SF
    Space
    9620 Executive Center Dade Building
    Size
    5,493 SF
    Space
    Franklin Building
    Size
    38,687 SF

    We can help!

    Listing Contact
    Barry Hanerfeld

    Learn more

    HighLights

    • Baypoint Commerce Center: 15‑building, 700,000+ SF retail campus on a 2.057‑acre lot in St. Petersburg, FL (33716).
    • 5/1,000 SF parking ratio.
    • Excellent location with easy access to I‑275, Gandy Bridge, and Courtney Campbell Causeway.
    • Proximity to restaurants and shopping.
    • Served by Pinellas Suncoast Transit Authority.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    St. Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6537455
    Latitude
    27.8756643

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    FAQs

    What type of property is this?
    Retail property - Prime St. Petersburg retail space, multiple units available.
    Where is this retail property located?
    The property is located at Baypoint Commerce Ctr St St. Petersburg, FL.
    What are key features of this property?
    This property features: Baypoint Commerce Center: 15-building, 700,000+ SF retail campus on a 2.057-acre lot in St. Petersburg, FL (33716).; 5/1,000 SF parking ratio.; Excellent location with easy access to I-275, Gandy Bridge, and Courtney Campbell Causeway.
    Request Owner's contact information
    Baypoint Commerce Ctr St St. Petersburg, FL 33716
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    St. Petersburg, FL 33716
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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.

    More about this property
    Baypoint Commerce Ctr St St. Petersburg, FL 33716
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    We can help!
    Listing Contact
    Barry Hanerfeld
    Real Estate License ID: FL 568445
    Learn more
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