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    3500 Morris N St Saint Petersburg, FL 33713-1629
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    Property profile & analytics

    3500 Morris N St, Saint Petersburg, FL 33713-1629

    View on Map
    • Warehouses
    • 12,272 SF
    • 0.57 lot acres
    Off-Market
    Last Sale Sep 9, 2024
    $1,500,000
    Property ID
    US18-3111036
    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
    $2,155,000
    Show details
    Cap Rate Potential
    3.7%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • Cabessa Storage - Saint Petersburg / Storage Facility

    Property Details for 3500 Morris N St

    Year built
    1981
    Construction
    CONCRETE BLOCKS
    Lot size
    0.57 lot acres
    Property type
    Warehouses
    APN
    11-31-16-61704-002-0080
    APU
    113116617040020080

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 30, 2025 — Sbdc Morris St N St Petersburg Fl L — Deed · related $60M · Connectone Bank
    Feb 14, 2025 — Sbdc Morris St N St Petersburg Fl L — Deed · related $30M · Connectone Bank
    Dec 9, 2024 $1,500,000 Sbdc Morris St N St Petersburg Fl L 3500 Morris St N LLC Special Warranty Deed —
    Dec 19, 2023 — 3545 Recker Highway Winter Haven Ll — Deed · related $592k · Pacific National Bank
    Dec 27, 2021 $1,250,000 3500 Morris Street N LLC 4bee Holdings LLC Warranty Deed —
    Jun 25, 2021 — 4bee Holdings LLC — Deed · related $420k · Seacoast National Bank
    Apr 30, 2020 $600,000 4bee Holdings LLC Bingham S Professional Pest Mgmt In Warranty Deed $450k · Freedom Bank
    Jun 13, 2018 $510,000 Binghams Prof Pest Mgmt INC Hicks,linda L Warranty Deed $459k · Linda L Hicks

    Description

    This exceptional 12,752-square-foot warehouse, situated on a 0.57-acre lot in St. Petersburg, Florida, presents a compelling investment opportunity. Built in 1981, this single-story industrial property boasts a desirable IT zoning designation. The asking price is $1,750,000, translating to $137.23 per square foot – a price point significantly below replacement cost. The property's address is 3500 Morris St N, St. Petersburg, FL 33713, conveniently located less than four miles from downtown St. Petersburg. The entire 12,752 square feet is net rentable. Currently, the occupancy rate stands at 77.5%. This warehouse offers significant potential for a variety of uses, given its size, location, and zoning. The property is owned by ASI CABESSA and presents a rare chance to acquire a well-positioned industrial asset in a thriving Florida market. Its single-building structure simplifies management and maintenance. Serious inquiries are encouraged to explore this attractive investment prospect further. The property is located in Pinellas County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,795,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,720,000
      6.5%
      $1,590,000
      7%
      $1,475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,776,000
      Market price range: $1.88M - $4.04M
      AI Estimate
      $2,776,000
      Market price range: $1.88M - $4.04M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $3,155,000
      Current use
      RETAIL STORES
      $2,895,000
      Change: -8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6731
    Latitude
    27.8037
    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
    $20,852
    $0.00
    $0.00
    $1,050,000
    -
    $348,753
    $701,247
    $1,050,000

    Comparable in this City

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      WAREHOUSE, STORAGE
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    • Value Estimation
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      4,588 SF

      2488 20th N Ave

      WAREHOUSE, STORAGE
      2488 20th N Ave, Saint Petersburg, FL 33713-4917
      View Details
    • Value Estimation
      $585,000
      3,528 SF

      3236 Morris N St

      WAREHOUSE, STORAGE
      3236 Morris N St, Saint Petersburg, FL 33713-2734
      View Details
    • Value Estimation
      $3,410,000
      22,217 SF

      2600 22nd N St

      WAREHOUSE, STORAGE
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    • Value Estimation
      $765,000
      3,840 SF

      2826 23rd N Ave

      WAREHOUSE, STORAGE
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    • Value Estimation by Request
      1,080 SF

      3118 23rd N Ave

      WAREHOUSE, STORAGE
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      Flex Office and Clear-Span Warehouse

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    3500 Morris N St
    Saint Petersburg, FL 33713-1629
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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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