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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5999 Central Ave St Petersburg, FL 33710

    • Office buildings
    • 32,792 SF
    • 1.54 lot acres
    For Lease
    View listing
    $25 SF/Yr
    Last Sale
    Jun 11, 2024
    $8,300,000
    Value Estimations
    $8,300,000
    Cap Rate Potential
    6.5%
    Office buildings
    Location Intelligence
    Property ID
    US18-3066342
    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

    • Physicians Group, LLC / Medical Clinic
    • Pinnacle Health and Weight Loss Center of St Pete / Weight Loss Service
    • FedEx Drop Box / Postal Service / Courier Service
    • Drug Free America Foundation / Charitable Organization / Social Service Agency
    • Paradise Advertising & Marketing, Inc / Marketing & Advertising / Advertising Agency

    Property Details for 5999 Central Ave

    Year built
    1979
    Construction
    STEEL FRAME
    Lot size
    1.54 lot acres
    Property size
    32,792 SF
    Property type
    Office buildings
    APN
    20-31-16-06048-000-0011
    APU
    203116060480000011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,300,000
      ML approach
      $8,300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,050,000
      6.5%
      $8,355,000
      7%
      $7,760,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,616,000
      Market price range: $4.85M - $9.48M
      AI Estimate
      $5,616,000
      Market price range: $4.85M - $9.48M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $7,705,000
      Current use
      AUTO REPAIR, GARAGE
      $11,445,000
      Change: +48% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $10,425,000
      Change: +35% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $9,975,000
      Change: +29% Conversion: Easy
      WAREHOUSE, STORAGE
      $7,910,000
      Change: +3% Conversion: Difficult
      RETAIL STORES
      $7,740,000
      Change: +0% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7156
    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
    $82,414
    $0.00
    $0.00
    $4,150,000
    -
    $910,461
    $3,239,539
    $4,150,000

    Comparable in this City

    • Value Estimation by Request
      1,452 SF

      3301 49th N St

      OFFICE BUILDING • 1,452 SF
      3301 49th N St, Saint Petersburg, FL 33710-2145
      View Details
    • Value Estimation
      $1,010,000
      4,497 SF

      6294 1st N Ave

      PROFESSIONAL BUILDING • 4,497 SF
      6294 1st N Ave, Saint Petersburg, FL 33710-8414
      View Details
    • Value Estimation by Request
      2,345 SF

      6538 1st N Ave

      OFFICE BUILDING • 2,345 SF
      6538 1st N Ave, Saint Petersburg, FL 33710-8404
      View Details
    • Value Estimation
      $1,230,000
      4,430 SF

      5240 1st N Ave

      OFFICE BUILDING • 4,430 SF
      5240 1st N Ave, Saint Petersburg, FL 33710-8104
      View Details
    • Value Estimation by Request
      1,397 SF

      5338 1st N Ave

      OFFICE BUILDING • 1,397 SF
      5338 1st N Ave, Saint Petersburg, FL 33710-8106
      View Details
    • Value Estimation by Request
      1,326 SF

      3116 66th N St

      OFFICE BUILDING • 1,326 SF
      3116 66th N St, Saint Petersburg, FL 33710-3116
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,076 SF

      St. Petersburg Retail/Office Building

      Single-story retail/office building with updated signage and active tenants.
      4980 38Th Ave N, St Petersburg, FL 33710
      View Details
    • $630,000
      1,381 SF

      Well-Maintained Freestanding Office Building

      Functional office building with flexible lease options in a convenient location.
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      0.49 Acres

      St. Petersburg Medical Office Building

      Prime Medical Office, High Visibility, Redevelopment Potential
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    • $499,000
      1,516 SF

      St. Petersburg Office Building For Sale

      Well-maintained office building on busy 66th St N with high visibility.
      2672 66Th St N, St Petersburg, FL 33710
      View Details
    • $1,599,999
      0.25 Acres

      Boca Ciega Bay Frontage Land

      Quarter-acre lot with 129' of bay frontage, ready to build.
      7940 Garden Dr N, St Petersburg, FL 33710
      View Details
    • $40,000
      0.03 Acres

      Vacant Lot in Eagles Nest

      Vacant lot in 55+ community with low HOA fees.
      7801 34Th Ave N, St Petersburg, FL 33710
      View Details

    Similar Nearby for Lease

    • $137,500

      St. Petersburg Office/Medical Space

      Centrally located office or medical space with high visibility.
      5885 Central Ave, St Petersburg, FL 33710
      View Details
    • $33,684

      St. Pete Office/Warehouse Space

      Versatile office and warehouse space in St. Petersburg, Florida.
      3350 Tyrone Blvd N, St Petersburg, FL 33710
      View Details
    • $40,200

      Medical Office Warm Shell Space

      1,517 SF warm shell space in high-traffic medical complex.
      7855 38Th Ave N, St Petersburg, FL 33710
      View Details
    • $23 SF/Yr
      33,170 SF

      Central Avenue Office Suite

      High-visibility St. Petersburg office suite with great amenities.
      5999 Central Ave, St Petersburg, FL 33710
      View Details
    • $14 SF/Yr
      1,378 SF

      Medical/Professional Office Space Available

      Office suites available in a high-visibility Pinellas County location.
      1212-1216 66Th St N, Saint Petersburg, FL 33710
      View Details
    • $142,080

      St. Petersburg Office Space Available

      Office suites for lease with dedicated parking and signage.
      1224 1240, St Petersburg, FL 33710
      View Details
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    5999 Central Ave
    St Petersburg, FL 33710
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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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