Equipped Coffee Shop
New
For Sale
$390,000
924 Central Avenue, St Petersburg, FL 33701
Fully built-out specialty coffee space with commercial kitchen infrastructure, custom finishes, and an assignable lease in downtown St. Petersburg.
Property Size229,794 SF
Price / SF$310.26
Days on Market2
Property Features for 924 Central Avenue
General Information
Standard status
Active
Size
229,794 SF
Property subtype
Other
Additional Details
Asking Price
$390,000
Equipment Included
Yes
Building Details
Building Size
229,794 SF
Year Built
2018
Year Renovated
2025
Listing Agency:
Barkett Realty
Listed By:
EJ Barkett
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 1 at 9:30PM
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 Barkett Realty
Investment Insights
Based on property information with market context.
This specialty coffee shop includes a complete interior build-out, commercial food-and-beverage equipment, and branded signage. The 1,257-square-foot space features sintered stone counters, a service bar, custom millwork, illuminated feature walls, transparent LED display screens, and finished interior and exterior signage. Equipment includes refrigeration and freezer units, reach-in units, an open display case, cube ice machine, high-speed oven, prep sinks, and smallwares and service inventory.
The property is at 924 Central Avenue in St. Petersburg’s Edge District, west of downtown. The surrounding area includes over 15,000 housing units, along with established nightlife and dining activity. The St. Pete Pier, museums, and Central Avenue’s dining corridor are within easy reach.
An assignable lease is available with approximately 3.5 years remaining, subject to Landlord consent. The existing improvements and equipment allow a new operator to take over an established food-and-beverage setup without undertaking a new construction program.
The property is at 924 Central Avenue in St. Petersburg’s Edge District, west of downtown. The surrounding area includes over 15,000 housing units, along with established nightlife and dining activity. The St. Pete Pier, museums, and Central Avenue’s dining corridor are within easy reach.
An assignable lease is available with approximately 3.5 years remaining, subject to Landlord consent. The existing improvements and equipment allow a new operator to take over an established food-and-beverage setup without undertaking a new construction program.
Key Highlights
- 1,257 SF specialty coffee shop in the Edge District
- Over 15,000 housing units in the surrounding area
- Custom build‑out with sintered stone counters, millwork, feature walls, and LED display screens
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
$13,972
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
3.58%
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%
$279,440
$279.4K
Cap Rate 7%
$199,600
$199.6K
Cap Rate 9%
$155,244
$155.2K
Market Conditions
NOI Build-Up for 1,257 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
$19.6K $15.60/SF
− Vacancy
−$980 −$0.78/SF
EGI
$18.6K $14.82/SF
− OpEx
−$4.7K −$3.70/SF
NOI
$14.0K $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%
$279,440
Cap Rate 7%
$199,600
Cap Rate 9%
$155,244
Alternative Uses
Best Use
Specialty Retail
$199.6K
$174.7K – $232.9K
NOI $13,972 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$327.0K
$286.1K – $381.5K
NOI $22,887 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,064
Businesses Nearby
63k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Groceries 32%
Hotels & Casinos 12%
Electronics 4%
Publix
Groceries
20,044 visits/mo
0.2 miles
Sunoco
Shops & Services
13,809 visits/mo
0.4 miles
Moxy Hotels
Hotels & Casinos
5,051 visits/mo
0.2 miles
Regions Bank
Shops & Services
4,329 visits/mo
0.4 miles
Family Dollar
Shops & Services
3,621 visits/mo
0.2 miles
Demographics for 33701, FL
19,137
Population
13,434
Households
1.4
Avg Household Size
48
Median Age
55%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
7,088
Density / Sq Mi
$69,098
Median Household Income
$48,072
Median Earnings
$1,531
Median Rent
$590,900
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?
Coffee shop - Fully built-out specialty coffee space with commercial kitchen infrastructure, custom finishes, and an assignable lease in downtown St. Petersburg.
Where is this coffee shop located?
The property is located at 924 Central Avenue St Petersburg, FL.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 1,257 SF specialty coffee shop in the Edge District; Over 15,000 housing units in the surrounding area; Custom build‑out with sintered stone counters, millwork, feature walls, and LED display screens
