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    St. Petersburg's Dynamic Mixed-Use Facility Title is generated by Realmo AI

    2606 Fairfield Ave S, St Petersburg, FL 33712

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    Thriving creative community with retail, office, and entertainment spaces.

    Type:Retail, Office, Industrial
    Property size:
    9,000 SF
    Lot size:
    1.75 Acres
    Added:
    Jul 10, 2024
    Days on Market:
    696
    Last Refresh:
    May 12 at 11:37 pm

    Property Features for 2606 Fairfield Ave S

    General Information

    Standard status
    Active
    Size
    9,000 SF
    Lot size
    1.75 Acres
    Property subtype
    Retail, Office, Industrial

    Building Details

    Year Built
    1953

    Spaces For Lease

    at 2606 Fairfield Ave S Contact us

    Building 1 $9/Mo

    Size
    9,000 SF
    Type
    Industrial
    Unleash Your Raw Potential in the Heart of St.​ Pete's Creative Crucible at The...
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    Contact us

    Building 7, Unit B $25/Mo

    Size
    2,429 SF
    Type
    Retail, Office, Industrial
    his flexible 2,429 +/- RSF retail unit offers an excellent opportunity for users...
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    Building 8, Unit B $25/Mo

    Size
    3,930 SF
    Type
    Retail, Office, Industrial
    Unit 8B is a highly versatile retail flex unit features a large, open white-boxed...
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    Building 8, Unit 8C $25/Mo

    Size
    1,943 SF
    Type
    Retail, Office, Industrial
    Unit 8C consists of approximately 1,589 +/- RSF with open concept and tons of wall...
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    Building 7, Unit A $25/Mo

    Size
    1,898 SF
    Type
    Retail, Office, Industrial
    This highly versatile move-in-ready retail flex unit offers a large, open floor plan...
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    Building 5 Cafe $25/Mo

    Size
    2,150 SF
    Type
    Retail, Office, Industrial
    This move-in-ready, custom-built spec café space presents a unique opportunity to...
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    We can help!

    Listing Contact
    Melinda Kulpa
    Melinda Kulpa

    Listing agent Melinda Kulpa License #FL #SL3494498

    Listing office Axxos

    Listing date Jul 10, 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 Axxos

    HighLights

    • Located in St. Petersburg's vibrant arts warehouse district ('The Factory') offering a unique creative community.
    • Frontage on the Pinellas Trail provides access to a community of active lifestyle enthusiasts and potential customers.
    • Mixed‑use facility with a diverse tenant mix including artists, galleries, restaurants, event spaces, and the St Pete Athletic Club (with indoor pickleball).
    • Stunning indoor and outdoor event spaces suitable for festivals, events, and art shows.
    • Unit 7A offers a private 440 +\/- SF custom deck / outdoor space.
    • Combination options available: Units 7A & 7B (4,327 +\/- RSF plus 440 +\/- SF Outside Patio Space) or Units 8B & 8C (5,873 +\/- RSF).

    Overview

    Located in St. Petersburg's arts warehouse district, The Factory is a mixed-use facility offering opportunities to join a creative community. This space is positioned along the Pinellas Trail, providing frontage and connectivity to active lifestyle enthusiasts. The location fosters collaboration and networking with artists, galleries, restaurants, and event spaces, alongside the St Pete Athletic Club. The Factory hosts indoor and outdoor event spaces suitable for festivals, events, and art shows. Available units include: Unit 5 Cafe, featuring custom-built cabinets, a natural stone countertop bar with on-demand hot water sinks, a 50lb under-sink grease trap, a double-glass door refrigerator, an ice bin with a built-in cold plate, and an arcade area. Unit 7A includes a private 440 +/- SF custom deck/outdoor space, a large open space with tall ceilings, and a small storage area; it can be combined with Unit 7B for a total of 4,327 +/- RSF plus the outdoor space. Unit 7B is available with 60-day notice and can be combined with Unit 7A. Unit 8B features a private restroom and a large open white-boxed space with direct access from Fairfield Avenue; it can be combined with Unit 8C for a total of 5,873 +/- RSF. Unit 8C is available with 30-day notice and can be combined with Unit 8B. Additionally, Building 1, a 9,000 +/- SF building on 1.75 acres, is available. The property is suitable for bar/restaurants, retailers, indoor entertainment, fitness centers, offices, galleries, and studios.
    Location Intelligence

    Current Use by Public Records

    The Factory St. Pete Theater & Performing Art Venue FloridaRAMA Resort Museum of Motherhood Charitable Organization Daddy Kool Records (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    St Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6694246
    Latitude
    27.7633978

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    FAQs

    What type of property is this?
    Mixed-use property - Thriving creative community with retail, office, and entertainment spaces.
    Where is this mixed-use property located?
    The property is located at 2606 Fairfield Ave S St Petersburg, FL.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Located in St. Petersburg's vibrant arts warehouse district ('The Factory') offering a unique creative community.; Frontage on the Pinellas Trail provides access to a community of active lifestyle enthusiasts and potential customers.; Mixed‑use facility with a diverse tenant mix including artists, galleries, restaurants, event spaces, and the St Pete Athletic Club (with indoor pickleball).
    (727) 435-8889 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Melinda Kulpa
    Melinda Kulpa
    Real Estate License ID: FL #SL3494498
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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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