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    Property profile & analytics

    554 1St Ave St. Petersburg, FL 33701

    • Office buildings
    • 6,000 SF
    • 0.14 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5332215
    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

    • Soaren / Marketing & Advertising / Photography Service
    • The Bus Stop / Cafe & Coffee Shop

    Property Details for 554 1St Ave

    Year built
    1925
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.14 lot acres
    Property size
    6,000 SF
    Property type
    Office buildings
    APN
    19-31-17-74466-028-0080
    APU
    193117744660280080

    Description

    This exceptional 1,444 square foot retail space is located at 554 1st Avenue North in St. Petersburg, Florida, within Pinellas County. The property boasts a single-tenant occupancy and is situated in a vibrant, high-growth area of downtown St. Petersburg. Its prime location on the 500 block of 1st Avenue North places it in close proximity to numerous popular establishments, including The Lure, The Floridian Social Club, Book+Bottle, Mangosteen, Pacific Counter, and Colony Grill, ensuring high foot traffic and visibility. The property benefits from its proximity to Mirror Lake and is surrounded by new residential developments, promising a strong and expanding customer base. This presents a unique opportunity for businesses seeking a thriving location in the heart of St. Petersburg's dynamic downtown core. The property's 1,444 square feet offer ample space for a variety of retail uses, making it an attractive investment for entrepreneurs and established businesses alike. The zip code is 33701. This is a single-tenant retail property in the St. Petersburg submarket. The property is classified as retail.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,353,000
      Market price range: $2.25M - $7.00M
      AI Estimate
      $2,353,000
      Market price range: $2.25M - $7.00M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $3,685,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6413
    Latitude
    27.7718
    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
    $12,306
    $0.00
    $0.00
    $791,000
    -
    $513,037
    $277,963
    $791,000

    Comparable in this City

    • Value Estimation
      $2,355,000
      6,000 SF

      572 1st N Ave

      OFFICE BUILDING • 6,000 SF
      572 1st N Ave, Saint Petersburg, FL 33701-3702
      View Details
    • Value Estimation
      $37,340,000
      90,654 SF

      501 1st N Ave

      OFFICE BUILDING (MULTI-STORY) • 90,654 SF
      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) • 41,600 SF
      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) • 35,560 SF
      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 • 11,048 SF
      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 • 4,151 SF
      540 4th N St, Saint Petersburg, FL 33701-2302
      View Details

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    Similar Nearby for Lease

    • $31 SF/Yr
      40,689 SF

      Class A Office Space Available

      Class A office building with contiguous space for rent.
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      Mirror Lake Office Space for Lease

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      Plaza Tower Office Suites Available

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      St. Petersburg Office Space Available

      Prime St. Pete Office, Multiple Suites Available
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    • Contact for pricing
      2,847 SF

      Medical Office Space Downtown St.

      Prime downtown location near hospitals, ideal for healthcare professionals.
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      View Details
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    554 1St Ave
    St. Petersburg, FL 33701
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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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