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Office - Residential - Garage/Storage 1200 40th St S 2,160 SF Vacant Office Building Saint Petersburg, FL 33711 $689,069 CAD ($319.01 CAD/SF) 9.67% Cap Rate
Investment Highlights
- Turn-Key Completely Renovated - Move In Ready
- Live-Work
- Three Streams of Income - Office - Residential - Garage/Storage
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.
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
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.
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 |
$87,650
|
$40.58
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,382
|
$2.03
|
| Effective Gross Income |
$83,267
|
$38.55
|
| Taxes |
$4,756
|
$2.20
|
| Operating Expenses |
$16,653
|
$7.71
|
| Total Expenses |
$21,409
|
$9.91
|
| Net Operating Income |
$61,858
|
$28.64
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $87,650 |
| Annual Per SF | $40.58 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,382 |
| Annual Per SF | $2.03 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $83,267 |
| Annual Per SF | $38.55 |
| Taxes (CAD) | |
|---|---|
| Annual | $4,756 |
| Annual Per SF | $2.20 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $16,653 |
| Annual Per SF | $7.71 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $21,409 |
| Annual Per SF | $9.91 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $61,858 |
| Annual Per SF | $28.64 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
2,160 SF
Year Built/Renovated
1949/2026
Price
$689,069 CAD
Price Per SF
$319.01 CAD
Cap Rate
9.67%
NOI
$66,647 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
Amenities
- Fenced Lot
- Storage Space
- Air Conditioning
1 1
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 | $240,695 CAD (2025) |
| Land Assessment | $70,438 CAD (2025) | Annual Taxes | $4,756 CAD ($2.20 CAD/SF) |
| Improvements Assessment | $170,257 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
27-31-16-84834-000-0030
Land Assessment
$70,438 CAD (2025)
Improvements Assessment
$170,257 CAD (2025)
Total Assessment
$240,695 CAD (2025)
Annual Taxes
$4,756 CAD ($2.20 CAD/SF)
Tax Year
2026
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Office - Residential - Garage/Storage | 1200 40th St S
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