1200 40th St S - Office FOR SALE


Saint Petersburg, FL 33711- Childs Park
$649,999 USD
727-463-2274
1200 40th St S, Saint Petersburg, FL for Sale
$649,999 USD
Office - FOR SALE
1/18
null | 7.44% Cap Rate

1200 40th St S
Saint Petersburg, FL 33711
Childs Park


HIGHLIGHTS

  • Turn-Key Completely Renovated - Move In Ready
  • Three Streams of Income - Office - Residential - Garage/Storage
  • Live-Work

OVERVIEW

Fully Renovated Mixed-Use Investment or Owner-User opportunity in St. Petersburg featuring three functional components and two primary income sources. The property includes a 1080 SF Three bedroom, One-bath apartment upstairs, 1,080 SF of office/commercial space downstairs, and a detached 2-car garage/storage building. The property has been recently fully renovated, this flexible property is ideal for an investor, small business owner, or live/work occupant seeking strong income potential and functional space. Major improvements include two new HVAC units, new hot water heaters, new flooring, two new kitchens and bathrooms, new appliances, updated electrical and a new roof in 2020. Additional features include separate electric meters for each unit and a detached 2 car garage built in 2013 to newer building code standards. Pro Forma Return Scenario at $649,999 Using the Projected Rents, 5% vacancy and 20% operating expenses: Apartment: $2,800/month Office + garage combined: $2,500/month Gross Monthly Income: $5,300 Gross Annual Income: $63,600 Less 5% Vacancy: $3,180 Effective Gross Income: $60,420 Less 20% Operating Expenses: $12,084 Estimated NOI: $48,336 Estimated Cap Rate at $649,999: 7.44%

FOR SALE DETAILS

PRICE

$649,999 USD

PRICE/SF

$301 USD /SF

CAP RATE

7.44%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Office - Residential - Garage/Storage

PROPERTY TYPE

Office

ADD'L SUBTYPES

Loft/Creative Space, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

-

YEAR BUILT

1949

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,347 SF

ZONING

-

APN/PARCEL ID

27-31-16-84834-000-0030

ASK ABOUT THIS PROPERTY

Michael SchultzInsta Real Estate SolutionsMore Info
727-463-2274

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Michael SchultzInsta Real Estate SolutionsMore Info
727-463-2274

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.