Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    655 S 2Nd Ave St Petersburg, FL 33701

    • Turn key restaurants
    • 12,575 SF
    • 0.78 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3314740
    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

    • Heath server ( like heath ledger / Restaurant
    • Rococo Steak / Restaurant
    • E&E Roofing Services / Roofing Company / General Contractor

    Property Details for 655 S 2Nd Ave

    Year built
    1924
    Construction
    WOOD
    Lot size
    0.78 lot acres
    Property size
    12,575 SF
    Property type
    Turn key restaurants
    APN
    19-31-17-74466-040-0130
    APU
    193117744660400130

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,030,000
      Market price range: $3.41M - $12.9M
      AI Estimate
      $8,030,000
      Market price range: $3.41M - $12.9M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $7,720,000
      Current use
      COMMERCIAL (GENERAL)
      $13,015,000
      Change: +69% Conversion: Easy
      OFFICE BUILDING
      $8,380,000
      Change: +9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.6426
    Latitude
    27.7697
    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
    $61,381
    $0.00
    $0.00
    $4,695,000
    -
    $4,231,514
    $463,486
    $4,695,000

    Comparable in this City

    • Value Estimation
      $1,010,000
      3,414 SF

      532 1st N Ave

      RESTAURANT • 3,414 SF
      532 1st N Ave, Saint Petersburg, FL 33701-3702
      View Details
    • Value Estimation
      $960,000
      3,178 SF

      1000 4th N St

      RESTAURANT • 3,178 SF
      1000 4th N St, Saint Petersburg, FL 33701
      View Details
    • Value Estimation
      $1,315,000
      3,840 SF

      634 2nd S Ave

      RESTAURANT • 3,840 SF
      634 2nd S Ave, Saint Petersburg, FL 33701-4104
      View Details
    • Value Estimation
      $2,025,000
      5,920 SF

      515 Central Ave

      RESTAURANT • 5,920 SF
      515 Central Ave, Saint Petersburg, FL 33701-3703
      View Details
    • Value Estimation
      $1,555,000
      2,240 SF

      330 1st S Ave

      RESTAURANT • 2,240 SF
      330 1st S Ave, Saint Petersburg, FL 33701-4202
      View Details
    • Value Estimation
      $2,435,000
      3,069 SF

      1221 4th N St

      RESTAURANT • 3,069 SF
      1221 4th N St, Saint Petersburg, FL 33701-1727
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,751 SF

      Downtown St. Petersburg Restaurant Property

      Prime downtown location leased to top-rated Rococo Steakhouse.
      655 S 2Nd Ave, St Petersburg, FL 33701
      View Details
    • $2,050,000
      6,300 SF

      Leased Retail Space in St. Petersburg

      Fully leased retail space with five units and adjacent parking.
      689 Dr Martin Luther King Jr St N, St Petersburg, FL 33701
      View Details
    • Contact for pricing

      Profitable Beauty Supply Storefront

      Turnkey beauty and hair supply business with multiple income streams.
      1326 Dr Martin Luther King Jr St S, St Petersburg, FL 33701
      View Details
    • $500,000
      494 SF

      Versatile Commercial Space in St. Petersburg

      Adaptable commercial property in a dynamic and growing Tampa Bay market.
      195 Dr Martin Luther King Jr St N, St Petersburg, FL 33701
      View Details
    • $1,499,000
      Pending

      St. Petersburg Multifamily Investment Opportunity

      Five-unit apartment complex in desirable Old Northeast location.
      1121 Beach Dr NE, St Petersburg, FL 33701
      View Details
    • $349,900
      0.09 Acres

      Land in Booming Innovation District

      Prime location to build your dream home near downtown St. Pete.
      000 Newton Ave S, St Petersburg, FL 33701
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,285 SF

      Beach Drive Retail Opportunity

      Retail spaces available on iconic Beach Drive in St. Petersburg.
      400 Beach Dr NE, St Petersburg, FL 33701
      View Details
    • Contact for pricing

      Downtown St. Pete Retail Space

      Prime location suitable for restaurant, retail, or office use.
      560 1St Ave N, St Petersburg, FL 33701
      View Details
    • Contact for pricing

      Downtown St. Petersburg Retail Space

      Located in the heart of Downtown St. Petersburg.
      554 1St Ave N, St Petersburg, FL 33701
      View Details
    • Contact for pricing

      Prime Downtown St. Pete Retail

      First-generation commercial space in a planned mixed-use development.
      235 3Rd St S, St Petersburg, FL 33701
      View Details
    • Contact for pricing
      2,500 SF

      Downtown St. Petersburg Restaurant Space

      Former restaurant space in downtown St. Petersburg, close to attractions.
      299 N 1St Ave, St Petersburg, FL 33701
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    655 S 2Nd Ave
    St Petersburg, FL 33701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!