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    Property profile & analytics

    558 28Th St St. Petersburg, FL 33712

    • Distribution centers
    • 6,415 SF
    • 0.99 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4076307
    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

    • By the Word of Faith Church / Church

    Property Details for 558 28Th St

    Year built
    1956
    Lot size
    0.99 lot acres
    Property size
    6,415 SF
    Property type
    Distribution centers
    APN
    12 ; 23-31-16-17298-010-00140; 23-31-16-17298-010- 0130; 23-31-16-17298-010-0120; 23-31-16-17298-010-0110; 23-31-16-17298-010-00100; 23-31-16-17298-010-00090

    Description

    This exceptional industrial property, located at 558 28th St S in St. Petersburg, Florida, presents a unique investment opportunity. The 6,415 square foot warehouse, built in 1956, sits on a 0.99-acre lot and is zoned for industrial use. The property includes a church building and three vacant lots, totaling approximately 21,600 square feet. The warehouse itself offers approximately 5,875 leasable square feet. Conveniently located in St. Petersburg's Warehouse Arts District, this property enjoys close proximity to downtown, Tropicana Field, and Interstate 275 (less than a mile to the I-275 entry ramp). The property features twelve parking spaces, including a handicapped-accessible space, with potential for additional parking. The asking price is $1,150,000. The Pinellas County APN numbers are: 12

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    St. Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6709229
    Latitude
    27.7653385

    Comparable in this City

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    • $1,690,000
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      St. Petersburg Executive Office Building

      9,874 SF Office, Near Completion
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    • $135,000

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      Vacant lot zoned for high-density residential or multifamily development.
      2946 22Nd Ave, St Petersburg, FL 33712
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    • $150,000

      Land in Developing Neighborhood

      Land available in up-and-coming St. Petersburg neighborhood.
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    • $179,000
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      Residential Land in St. Petersburg

      Vacant land suitable for residential development in a convenient location.
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    Similar Nearby for Sale

    • $3,900,000
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      Tropicana Landing: St. Pete Warehouse

      Prime St. Petersburg industrial property. High-visibility location.
      1960 5Th Ave, St. Petersburg, FL 33712
      View Details
    • Contact for pricing
      15,620 SF

      St. Petersburg Warehouse - 15,620 SF

      Prime St. Pete industrial space, renovated 2019.
      655 31St St, St. Petersburg, FL 33712
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    • $1,690,000
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      St. Petersburg Executive Office Building

      9,874 SF Office, Near Completion
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    • $135,000

      Vacant Lot Near Downtown St.

      Vacant lot zoned for high-density residential or multifamily development.
      2946 22Nd Ave, St Petersburg, FL 33712
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    • $150,000

      Land in Developing Neighborhood

      Land available in up-and-coming St. Petersburg neighborhood.
      15TH 15Th Ave S, St Petersburg, FL 33712
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    • $179,000
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      Residential Land in St. Petersburg

      Vacant land suitable for residential development in a convenient location.
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    Similar Nearby for Lease

    • $16 SF/Yr
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      Warehouse Arts District Gem

      St. Pete industrial space, flexible options
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    • $25 SF/Yr
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      Warehouse Arts District Gem

      St. Pete flex space, 442-12,937 SF
      2200 2Nd Ave, St. Petersburg, FL 33712
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    • $25 SF/Yr
      18,588 SF

      St. Pete Factory Space Available

      Creative Office/Warehouse Suites, 1,772-7,529 SF
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    • $2,850,000
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      Warehouse in Central Arts District

      Warehouse space in a rapidly developing urban area.
      1922 Central Ave, Saint Petersburg, FL 33712
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    • $15,600 /Mo

      St. Petersburg Specialty Property Available

      Specialty property for rent in St. Petersburg, Florida.
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    • $32 SF/Yr
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      3270 Central Ave

      Shopping centers
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    558 28Th St
    St. Petersburg, FL 33712
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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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