Sign Up Successful!
You now have access to more from Realmo!
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

    6551 40th N Ave Saint Petersburg, FL 33709-4935

    • Apartment buildings
    • 7,148 SF
    • 0.57 lot acres
    OFF-MARKET
    Value Estimations
    $1,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4865970
    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

    • Apartment buildings

    Property Details for 6551 40th N Ave

    Year built
    1962
    Construction
    CONCRETE BLOCKS
    Lot size
    0.57 lot acres
    Property size
    7,148 SF
    Property type
    Apartment buildings
    APN
    05-31-16-29430-002-0060
    APU
    53116294300020060

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,307,000
      Market price range: $1.31M - $2.88M
      AI Estimate
      $1,307,000
      Market price range: $1.31M - $2.88M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,065,000
      Current use
      OFFICE BUILDING
      $2,125,000
      Change: +3% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,725,000
      Change: -16% Conversion: Difficult
      RETAIL STORES
      $1,685,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Petersburg
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7278
    Latitude
    27.8084
    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
    $13,488
    $0.00
    $0.00
    $600,000
    -
    $205,516
    $394,484
    $600,000

    Comparable in this City

    • Value Estimation
      $2,005,000
      4,980 SF

      4701 68th N St

      APARTMENT HOUSE (5+ UNITS) • 4,980 SF
      4701 68th N St, Saint Petersburg, FL 33709-2954
      View Details
    • Value Estimation
      $11,215,000
      61,340 SF

      8147 46th N Ave

      APARTMENT HOUSE (5+ UNITS) • 61,340 SF
      8147 46th N Ave, Saint Petersburg, FL 33709-4142
      View Details
    • Value Estimation
      $2,755,000
      14,840 SF

      6214 54th N Ave

      APARTMENT HOUSE (5+ UNITS) • 14,840 SF
      6214 54th N Ave, Kenneth City, FL 33709-1706
      View Details
    • Value Estimation
      $25,830,000
      146,966 SF

      6522 54th N Ave

      APARTMENT HOUSE (5+ UNITS) • 146,966 SF
      6522 54th N Ave, Saint Petersburg, FL 33709-1633
      View Details
    • Value Estimation by Request
      568 SF

      5170 Frst Mdws N Ln

      APARTMENT HOUSE (5+ UNITS) • 568 SF
      5170 Frst Mdws N Ln, Saint Petersburg, FL 33709-2824
      View Details
    • Value Estimation
      $26,445,000
      144,609 SF

      6835 54th N Ave

      APARTMENT HOUSE (5+ UNITS) • 144,609 SF
      6835 54th N Ave, Saint Petersburg, FL 33709-3000
      View Details

    Similar Nearby for Sale

    • $215,000

      West Lealman Multifamily Property

      Multifamily property in West Lealman, Florida.
      7880 54Th Ave N 75, Saint Petersburg, FL 33709
      View Details
    • $975,000
      3,409 SF

      Waterfront Multi-Unit Investment Opportunity

      Six-unit property with waterfrontage, high cap rate, and renovation potential.
      5050 74Th St N, St Petersburg, FL 33709
      View Details
    • $1,990,000
      5,028 SF

      Renovated Multifamily Investment Opportunity

      Fully renovated eight-unit commercial property in St. Petersburg, Florida.
      6538 42Nd Ave N, Kenneth City, FL 33709
      View Details
    • $245,000

      West Lealman Multifamily Property

      Multifamily property in West Lealman, Florida.
      7803 46Th Ave N 105, Saint Petersburg, FL 33709
      View Details
    • $3,500,000

      West St. Petersburg Multifamily Investment

      Fully leased 14-unit multifamily property with redevelopment potential.
      6797 54Th Ave N, Saint Petersburg, FL 33709
      View Details
    • $89,000

      West Lealman Multifamily Property

      Multifamily property in West Lealman, FL for sale.
      7777 46Th Ave N 36, Saint Petersburg, FL 33709
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      95,253 SF

      Plaza 66 Retail Space Available

      Kenneth City, FL retail center with high traffic.
      4665-4749 66Th St, Kenneth City, FL 33709
      View Details
    • $9,900 /Mo
      10,632 SF

      St. Petersburg Office/Retail Space

      Prime St. Pete location, multiple suites available.
      6880 46Th Ave, St. Petersburg, FL 33709
      View Details
    • $20 SF/Yr
      3,014 SF

      Shell Condition Office Space Available

      Customizable office space in St. Petersburg, FL for lease.
      3801 N 49Th St, St Petersburg, FL 33709
      View Details
    • Contact for pricing
      3,250 SF

      Retail/Office Space on Tyrone Blvd

      Retail or office space available in St. Petersburg, Florida.
      3951 N Tyrone Blvd, St Petersburg, FL 33709
      View Details
    • $181,332

      Prime Retail Space on 54th

      High-traffic retail space in Winn-Dixie anchored shopping center.
      5802 54Th Ave N, Kenneth City, FL 33709
      View Details
    • Contact for pricing
      3,826 SF

      St. Pete Medical Office Space

      Prime Medical Office, Two Suites Available
      3831 Tyrone Blvd, St. Petersburg, FL 33709
      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.
    6551 40th N Ave
    Saint Petersburg, FL 33709-4935
    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.