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    Property profile & analytics

    1846 62Nd Ave St. Petersburg, FL 33702

    • Community centers
    • 22,844 SF
    • 5.15 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2263038
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Local Pizza Company / Restaurant

    Property Details for 1846 62Nd Ave

    Year built
    1968
    Construction
    CONCRETE BLOCKS
    Lot size
    5.15 lot acres
    Property size
    22,844 SF
    Property type
    Community centers
    APN
    36-30-16-00000-320-0100
    APU
    363016000003200100

    Description

    Town Plaza, located at 1846 62nd Ave N in St. Petersburg, Florida (zip code 33702), presents a significant retail leasing opportunity. This shopping center, situated in Pinellas County, offers a total of 66,662 square feet of retail space within a single building. Currently, there is one suite available, encompassing 13,185 square feet, ideal for a variety of retail uses. The property's prime location in St. Petersburg provides excellent visibility and accessibility for businesses seeking a strong presence in this thriving market. The property is classified as a retail shopping center with multiple tenancies, although currently only one suite is available for lease. The substantial square footage of the available space allows for considerable flexibility in tenant design and layout. This presents a unique chance for a business to establish a significant footprint in a well-established retail center. Interested parties are encouraged to inquire about lease terms and conditions. The property's latitude and longitude coordinates are 27.827812 and -82.6593364 respectively.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,518,000
      Market price range: $3.74M - $11.7M
      AI Estimate
      $8,518,000
      Market price range: $3.74M - $11.7M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $7,265,000
      Current use
      RESTAURANT
      $14,025,000
      Change: +93% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $13,720,000
      Change: +89% Conversion: Easy
      AUTO REPAIR, GARAGE
      $7,970,000
      Change: +10% Conversion: Difficult
      OFFICE BUILDING
      $6,790,000
      Change: -7% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6588
    Latitude
    27.8279
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $117,606
    $0.00
    $0.00
    $5,085,000
    -
    $1,797,854
    $3,287,146
    $5,085,000

    Comparable in this City

    • Value Estimation
      $19,660,000
      38,353 SF

      7999 Dr Martin Luther King Jr N St

      MINI-MALL • 38,353 SF
      7999 Dr Martin Luther King Jr N St, Saint Petersburg, FL 33702-4107
      View Details
    • Value Estimation
      $9,930,000
      19,370 SF

      1049 62nd N Ave

      MINI-MALL • 19,370 SF
      1049 62nd N Ave, Saint Petersburg, FL 33702-7419
      View Details
    • Value Estimation
      $5,250,000
      10,240 SF

      6800 22nd N Cir

      MINI-MALL • 10,240 SF
      6800 22nd N Cir, Saint Petersburg, FL 33702
      View Details
    • Value Estimation
      $1,550,000
      8,228 SF

      9047 Dr Martin Luther King Jr N St

      SHOPPING CENTER, STRIP CENTER • 8,228 SF
      9047 Dr Martin Luther King Jr N St, Saint Petersburg, FL 33702-3045
      View Details
    • Value Estimation
      $720,000
      4,398 SF

      3186 62nd N Ave

      SHOPPING CENTER, STRIP CENTER • 4,398 SF
      3186 62nd N Ave, Saint Petersburg, FL 33702-6115
      View Details
    • Value Estimation
      $1,320,000
      6,614 SF

      6401 Dr Martin Luther King Jr N St

      SHOPPING CENTER, STRIP CENTER • 6,614 SF
      6401 Dr Martin Luther King Jr N St, Saint Petersburg, FL 33702-6623
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      66,662 SF

      St. Petersburg Retail Center Opportunity

      Prime Retail Space Available, 13,185 SF
      1846 62Nd Ave, St. Petersburg, FL 33702
      View Details
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      Retail space available in Winn-Dixie anchored shopping center.
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    St. Petersburg, FL 33702
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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
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