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5500 Central Ave 1,496 SF 4-Star Office Building Saint Petersburg, FL 33707 $625,000 ($417.78/SF) 6.08% Cap Rate
Investment Highlights
- Heavy trafficked area with stand-alone signage: passed by over 15,600 daily drivers.
- On-site parking with nine spaces and prominent stand-alone signage for tenant branding.
- Renovated and modernized interiors.
- Located in a flood-safe Zone X with convenient access to major business districts and transportation routes.
Executive Summary
This property presents a compelling investment opportunity in one of Saint Petersburg’s most active commercial corridors. Located on heavily trafficked Central Avenue, the building benefits from daily exposure to over 15,600 vehicles and is situated in a high-elevation Flood Zone X area. A recently executed 36-month lease at $4,000 per month ensures immediate, reliable income and an attractive 6.08% cap rate, making it an excellent option for investors and 1031 exchange buyers.
The property spans 1,496 square feet and features five private offices, two bathrooms, a kitchen, conference room, and a waiting area, providing functional workspaces for professional users. Recent renovations have modernized the interiors and enhanced curb appeal, ensuring long-term tenant retention. Additional amenities include stand-alone signage for brand visibility, on-site parking with nine spaces, and extra storage space.
Offering proximity to key Saint Petersburg districts, public transportation, and major roadways, this asset combines stability, accessibility, and future appreciation potential in a thriving business environment.
The property spans 1,496 square feet and features five private offices, two bathrooms, a kitchen, conference room, and a waiting area, providing functional workspaces for professional users. Recent renovations have modernized the interiors and enhanced curb appeal, ensuring long-term tenant retention. Additional amenities include stand-alone signage for brand visibility, on-site parking with nine spaces, and extra storage space.
Offering proximity to key Saint Petersburg districts, public transportation, and major roadways, this asset combines stability, accessibility, and future appreciation potential in a thriving business environment.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
1,496 SF
Building Class
B
LoopNet Rating
4 Star
Year Built/Renovated
1976/2025
Price
$625,000
Price Per SF
$417.78
Cap Rate
6.08%
NOI
$38,000
Tenancy
Single
Building Height
1 Story
Typical Floor Size
1,496 SF
Building FAR
0.31
Lot Size
0.11 AC
Zoning
OIP - Office Institutional Professional
Parking
9 Spaces (6 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Storage Space
- Air Conditioning
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 21-31-16-14463-007-0010 | Improvements Assessment | $186,607 |
| Land Assessment | $155,893 | Total Assessment | $342,500 |
Property Taxes
Parcel Number
21-31-16-14463-007-0010
Land Assessment
$155,893
Improvements Assessment
$186,607
Total Assessment
$342,500
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5500 Central Ave
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