7292 4Th StSt. Petersburg, FL 33702

Property Details for 7292 4Th St

Year built

1990

Construction

CONCRETE BLOCKS

Lot size

0.60 AC

Property size (Sq ft)

7,622 SF

Property type

Office properties

Property subtype

Office buildings

APN

30-30-17-31176-005-0070

APU

303017311760050070

Description

This exceptional Class A office building, located at 7292 4th St N in St. Petersburg, Florida, presents a compelling investment opportunity. The 8,700 square foot building sits on a 27,000 square foot corner lot, offering excellent visibility and accessibility. Currently boasting 100% occupancy since August 21, 2023, the property features three suites, each with one or two separate entrances, ideal for multi-tenant use. The building's recent renovations (2001-2002, 2014, 2017, 2018, and 2022-2023) ensure a modern and well-maintained space. The primary tenant, a national physical therapy company, is under a five-year lease (commencing June 1, 2022, and expiring May 31, 2027) with a 3% annual rent bump, providing consistent income. The property includes 29 parking spaces and benefits from a metal roof with Karnak silicone sealant, a concrete security fence, and an inground sprinkler system. The building is zoned CCS-1 and offers a strong cap rate of 6.50%. The asking price is $3,400,000, translating to a land value of $434.83 per square foot. This turnkey property is perfect for an owner-user or investor seeking a stable, high-return investment in a rapidly growing area. The property is currently for sale by owner.

• CAP approach

  CAP return

  Valuation

  6%

  $2,330,846

  6.5%

  $2,151,550

  7%

  $1,997,868

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,159,763

  Geo Method

  $1,159,763

• Alternative Use

  Use

  Valuation

  Residential

  $2,667,922

  Hospitality

  $2,443,802

  Educational

  $2,033,215

  Medical

  $2,103,140

  Retail

  $3,162,779

Location Insight

City

Saint Petersburg

County

Pinellas

State

Florida

Latitude

27.8386

Longitude

-82.6392

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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