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OWNER FINANCING - Office/Residential/Storage 1200 40th St S 2,160 SF Vacant Office Building Saint Petersburg, FL 33711 $606,732 CAD ($280.89 CAD/SF) 10.99% Cap Rate
Investment Highlights
- Turn-Key Completely Renovated - Move In Ready
- Live-Work
- Convenient access to Downtown St. Petersburg and Interstate 275
- Three Streams of Income - Office - Residential - Garage/Storage
- Corner lot location with fenced outdoor area and alley access
Executive Summary
Marketing Description: 1200 40th St. S. presents a rare opportunity to acquire a fully renovated mixed-use property in South St. Petersburg with outstanding flexibility for a range of ownership strategies. The property includes 1,080 square feet of office/commercial space on the ground floor, a 1,080 square foot 3-bedroom, 1-bath apartment above, and a detached 2-car garage/storage building.
OWNER FINANCING AVAILABLE
Terms:
• $200,000 Down Payment
• Seller Financing the remaining
• 7.0% Interest Rate
• Principal & Interest Payments
• 30-Year Amortization
• 3-Year Balloon Note
Remaining balance due at the end of 36 months.
Subject to buyer qualification and final loan documents.
Investment Highlights
Fully renovated mixed-use asset in South St. Petersburg
2,160 SF total building area
1,080 SF office/commercial space on the ground floor
1,080 SF 3-bedroom, 1-bath apartment on the second floor
Detached 2-car garage/storage building
Ideal for investor, owner-user, or live/work occupancy
Separate electric meters for residential and commercial components
Major improvements already completed, including HVAC, hot water heaters, electrical, flooring, cabinets, appliances, and roof
Roof replaced in 2020
Detached garage built in 2013
Corner lot with fenced outdoor area and alley access
Opportunity Zone location
OWNER FINANCING AVAILABLE
Terms:
• $200,000 Down Payment
• Seller Financing the remaining
• 7.0% Interest Rate
• Principal & Interest Payments
• 30-Year Amortization
• 3-Year Balloon Note
Remaining balance due at the end of 36 months.
Subject to buyer qualification and final loan documents.
Investment Highlights
Fully renovated mixed-use asset in South St. Petersburg
2,160 SF total building area
1,080 SF office/commercial space on the ground floor
1,080 SF 3-bedroom, 1-bath apartment on the second floor
Detached 2-car garage/storage building
Ideal for investor, owner-user, or live/work occupancy
Separate electric meters for residential and commercial components
Major improvements already completed, including HVAC, hot water heaters, electrical, flooring, cabinets, appliances, and roof
Roof replaced in 2020
Detached garage built in 2013
Corner lot with fenced outdoor area and alley access
Opportunity Zone location
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$87,701
|
$40.60
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,385
|
$2.03
|
| Effective Gross Income |
$83,316
|
$38.57
|
| Taxes |
$4,759
|
$2.20
|
| Operating Expenses |
$16,663
|
$7.71
|
| Total Expenses |
$21,422
|
$9.92
|
| Net Operating Income |
$61,894
|
$28.65
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $87,701 |
| Annual Per SF | $40.60 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,385 |
| Annual Per SF | $2.03 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $83,316 |
| Annual Per SF | $38.57 |
| Taxes (CAD) | |
|---|---|
| Annual | $4,759 |
| Annual Per SF | $2.20 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $16,663 |
| Annual Per SF | $7.71 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $21,422 |
| Annual Per SF | $9.92 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $61,894 |
| Annual Per SF | $28.65 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
2,160 SF
Building Class
C
Year Built/Renovated
1949/2026
Price
$606,732 CAD
Price Per SF
$280.89 CAD
Cap Rate
10.99%
NOI
$66,685 CAD
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,080 SF
Building FAR
0.50
Lot Size
0.10 AC
Opportunity Zone
Yes
Zoning
R-1 - Neighborhood Traditional Single-Family-1
Amenities
- Fenced Lot
- Storage Space
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
1,080 SF ground-floor office/commercial suite. Ownership may be available through a lease-to-own structure for qualified tenants. The second floor features 1,080 SF - 3 Bedroom 1 bath apartment space. Plus, there is a two car garage . The entire building is being offered at a rental rate of $4,500 per month.
| Space | Size | Space Use | Build-Out | Available |
| 2nd Floor | 1,080 SF | Office | Full Build-Out | Now |
2nd Floor
| Size |
| 1,080 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2nd Floor
| Size | 1,080 SF |
| Space Use | Office |
| Build-Out | Full Build-Out |
| Available | Now |
1,080 SF ground-floor office/commercial suite. Ownership may be available through a lease-to-own structure for qualified tenants. The second floor features 1,080 SF - 3 Bedroom 1 bath apartment space. Plus, there is a two car garage . The entire building is being offered at a rental rate of $4,500 per month.
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Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 27-31-16-84834-000-0030 | Total Assessment | $241,314 CAD (2025) |
| Land Assessment | $70,620 CAD (2025) | Annual Taxes | $4,759 CAD ($2.20 CAD/SF) |
| Improvements Assessment | $170,695 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
27-31-16-84834-000-0030
Land Assessment
$70,620 CAD (2025)
Improvements Assessment
$170,695 CAD (2025)
Total Assessment
$241,314 CAD (2025)
Annual Taxes
$4,759 CAD ($2.20 CAD/SF)
Tax Year
2026
1 of 19
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
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OWNER FINANCING - Office/Residential/Storage | 1200 40th St S
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