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    Property profile & analytics

    2817 Central Ave St. Petersburg, FL 33713

    • Retail space
    • 4,558 SF
    • 0.31 lot acres
    For Lease
    View listing
    $42 SF/Yr
    Last Sale
    Jul 13, 2023
    $2,183,000
    Value Estimations
    $1,625,000
    Cap Rate Potential
    2.8%
    Retail space
    Location Intelligence
    Property ID
    US18-1452071
    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

    • Retail space

    Property Details for 2817 Central Ave

    Year built
    1950
    Construction
    CONCRETE BLOCKS
    Lot size
    0.31 lot acres
    Property size
    4,558 SF
    Property type
    Retail space
    APN
    23-31-16-35118-019-0120
    APU
    233116351180190120

    Description

    This exceptional Class A retail property, located at 2817 Central Avenue in St. Petersburg, Florida (zip code 33713), offers 4,558 square feet of space in a prime Grand Central District location. The building, constructed in 1950 and extensively renovated in 2024, features four suites, with 2,000 square feet currently vacant and available for lease. Minimum leasable space is 1,000 square feet, with a maximum contiguous space of 2,000 square feet. The property boasts 135 feet of high-exposure frontage on Central Avenue, providing unparalleled visibility for any business. Its versatile zoning (cct2) allows for a wide range of uses, including restaurants, bars, boutiques, art galleries, fitness studios, or office space. The 0.31-acre lot includes five parking spaces. This single-story building offers a unique opportunity to establish a presence in one of St. Petersburg's most vibrant and sought-after neighborhoods, surrounded by popular dining and nightlife establishments. The property's building floor area ratio (FAR) is 0.34. Don't miss this chance to secure a thriving business location in the heart of the Grand Central District.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,625,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,621,000
      Market price range: $637k - $1.63M
      AI Estimate
      $1,621,000
      Market price range: $637k - $1.63M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,075,000
      Current use
      AUTO REPAIR, GARAGE
      $1,590,000
      Change: +48% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,450,000
      Change: +35% Conversion: Moderate
      OFFICE BUILDING
      $1,345,000
      Change: +25% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,170,000
      Change: +9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6719
    Latitude
    27.7713
    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
    $14,571
    $0.00
    $0.00
    $1,100,000
    -
    $895,404
    $204,596
    $1,100,000

    Comparable in this City

    • Value Estimation by Request
      5,390 SF

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      RETAIL STORES (PERSONAL SERVICES) • 5,390 SF
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      View Details
    • Value Estimation by Request
      3,200 SF

      3200 34th N St

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
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    • Value Estimation by Request
      1,056 SF

      3011 Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,056 SF
      3011 Central Ave, Saint Petersburg, FL 33713-8632
      View Details
    • Value Estimation by Request
      6,222 SF

      3148 28th N St

      RETAIL STORES (PERSONAL SERVICES) • 6,222 SF
      3148 28th N St, Saint Petersburg, FL 33713-1638
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    • Value Estimation by Request
      15,592 SF

      3700 34th N St

      RETAIL STORES (PERSONAL SERVICES) • 15,592 SF
      3700 34th N St, Saint Petersburg, FL 33713-1521
      View Details
    • Value Estimation by Request
      4,906 SF

      2545 Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,906 SF
      2545 Central Ave, Saint Petersburg, FL 33713-8721
      View Details

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    2817 Central Ave
    St. Petersburg, FL 33713
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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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