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    248 Mirror Lk N Dr Saint Petersburg, FL 33701-3224
    Property profile & analytics

    248 Mirror Lk N Dr, Saint Petersburg, FL 33701-3224

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    • Office buildings
    • 1,917 SF
    • 0.12 lot acres
    Off-Market
    Last Sale Mar 16, 2025
    $177,500
    Property ID
    US18-8518814
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Limo St Petersburg / Limousine Service

    Property Details for 248 Mirror Lk N Dr

    Year built
    1941
    Construction
    CONCRETE BLOCKS
    Lot size
    0.12 lot acres
    Property type
    Office buildings
    APN
    19-31-17-58428-004-0010
    APU
    193117584280040010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 16, 2025 $177,500 Eileen Staffo Lake Palms Apartment INC Deed —
    Sep 5, 2024 $1,040,000 Baha Global LLC Stone Pony LLC Warranty Deed —
    Jun 25, 2020 — The Stone Pony LLC — Deed · related $450k · Alliance Bank & Trust Co
    Mar 18, 2020 $501,000 Stone Pony LLC Daniel B Schuh Warranty Deed —
    Jun 11, 2018 $175,000 Daniel B Schuh Rsb Holdings INC Warranty Deed $250k · John II Cappa
    Mar 29, 2016 $145,000 Rsb Holdings INC Schuh,jean S Grant Deed —
    Apr 7, 2011 — Jean S Schuh Schuh Charles E Quit Claim Deed · related —

    Description

    This beautifully renovated 1,917 square foot office space in downtown St. Petersburg offers a unique blend of traditional office and coworking potential. Located at 248 Mirror Lake Dr N, 33701, this single-tenant property boasts a prime location overlooking Mirror Lake, providing spectacular views. The spacious layout includes five adaptable workspaces, easily configured to suit various business needs. A large, private conference/meeting room is situated at the front of the unit, perfect for client presentations or internal collaborations. Several individual offices of varying sizes cater to diverse tenant requirements. Amenities include a kitchen/break area, a substantial garage, a small outdoor patio ideal for informal meetings, and ample on-site parking. Two restrooms ensure convenient and separate facilities for staff and clients. Previously occupied by financial and legal businesses, this property is well-suited for a range of professional office-based enterprises. The property features a large corner lot. Lease terms are flexible, and the space is available for immediate occupancy. This exceptional property presents a rare opportunity to establish a thriving business in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6439
    Latitude
    27.7742
    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
    $7,250
    $0.00
    $0.00
    $370,000
    -
    $254,977
    $115,023
    $370,000

    Comparable in this City

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      6,000 SF

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    • Value Estimation
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      90,654 SF

      501 1st N Ave

      OFFICE BUILDING (MULTI-STORY)
      501 1st N Ave, Saint Petersburg, FL 33701-3726
      View Details
    • Value Estimation
      $17,105,000
      41,600 SF

      146 2nd St N Ste, Unit 103

      OFFICE BUILDING (MULTI-STORY)
      146 2nd St N Ste, Saint Petersburg, FL 33701-3361
      View Details
    • Value Estimation
      $15,025,000
      35,560 SF

      235 3rd St S Ste, Unit 200

      OFFICE BUILDING (MULTI-STORY)
      235 3rd St S Ste, Saint Petersburg, FL 33701-4242
      View Details
    • Value Estimation
      $11,700,000
      11,048 SF

      125 5th S St

      OFFICE BUILDING
      125 5th S St, Saint Petersburg, FL 33701-4168
      View Details
    • Value Estimation
      $4,640,000
      4,151 SF

      540 4th N St

      OFFICE BUILDING
      540 4th N St, Saint Petersburg, FL 33701-2302
      View Details

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      Corner Lot Office Space

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      Corner Lot Office Space

      Office space on a highly trafficked street with parking.
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    Similar Nearby for Lease

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      Downtown St. Pete Office Building

      Free-standing office building overlooking Mirror Lake in Downtown St. Pete.
      216 Mirror Lake Dr N, St Petersburg, FL 33701
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      Downtown St. Petersburg Office Space

      Office space in the heart of downtown St. Petersburg.
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      Downtown St. Petersburg Office Building

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      Class A Office Building with On-Site Café

      Downtown Class A office with an on-site café and convenient parking options.
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      Office space with 24-hour access and parking options.
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    Saint Petersburg, FL 33701-3224
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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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