Mia Aesthetics Surgery Center — Sale in St. Petersburg, FL

Price: Contact for price
Listing type: For sale
Asset type: Office
Location: St. Petersburg, FL 33705
Submarket: South St. Petersburg
Year built: 2004

Photos

Mia Aesthetics Surgery Center — Sale in St. Petersburg, FL, photo 1 of 2

Mia Aesthetics Surgery Center — Sale in St. Petersburg, FL, photo 2 of 2

Investment Figures

Cap rate: 6.49%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 705 16th Street N, a single-tenant medical ambulatory surgery center (ASC) located in St. Petersburg, Florida. This 16,709 square foot facility is situated on 1.63 acres adjacent to BayCare St. Anthony's Hospital, a 395-bed regional academic medical center. Investment Highlights: • NNN Lease Structure? Tenant pays taxes, insurance, maintenance and 100% of operating expenses? Delivering true passive landlord ownership? • Ideal Immediate Location? Property is situated adjacent to St Anthony's BayCare Hospital? 395-bed hospital ? Region's largest academic hospital ? • Replaceable Rental Rate? Tenant currently pays $31.68/ft? Market rents for an ASC in market are between $40.00 to $55.00 per sq/ft? • Two (5) Year Renewal Options?: Tenant holds two five-year renewal options, providing potential for over 15 years of total lease term? • Dense Surrounding Population? Property is situated only 1.6 miles from the heart of Downtown St Petersburg? St Petersburg is home to over a quarter million people and is a part of the Tampa metro that has over 3.3 million residents? • Recent Capital Item Renovations? Tenant and landlord have invested over $1,000,000 into the facility over the past 5-years ? New roof in 2026? New HVAC in 2021? Extensive renovations to the ASC interior? • 2.5% Annual Rent Escalations? Built-in 2.5% annual rent increases throughout the primary term and 3% in option ? • Corporate Backed and Guaranteed Lease? Mia Services, the corporate entity, is the guarantor of the lease ? Corporate/financial guarantee to the lease? tenant reports financials to landlord?

Market Context

This office in St. Petersburg, FL is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing office assets. The building dates to 2004. Compare it against other office listings for sale in St. Petersburg, FL — view the full market.

As of Q1 2026, the Tampa office market showed an 18.2% vacancy rate, and average asking rents near $30.61/SF/yr. Source: multiple brokerage reports, Q1 2026.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Office market FAQ

Is the Tampa office market tightening or softening?: Vacancy is around 18.2% (Q1 2026).

Estimated Price per SF

$159.73/SF – $1,162/SF

Mid: $484.03/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.