Saint Petersburg, FL Retail Property For Sale

NNN leases in place, offering minimal landlord responsibilities, annual rent escalations, and strong lease guarantees (both personal and corporate).

Excellent visibility and access to the dense multi-family and office properties in the immediate area, including a Walk Score of 95 and Bike Score of 98 (per “walkscore.com”), which provides a competitive advantage for the property and tenant’s success.

Extensive renovations of over $500k to the building’s infrastructure including new fire sprinkler main, fire panel and flow switches, new TPO roofing, new HVAC RTU, new electric alcove, new electrical mains (Duke Energy), and new awnings with lights and electrical. In addition to the recent building improvements, new tenant leases within the past 12 months have also led to extensive interior renovations to the tenant spaces at the tenant’s expense.

The property’s location provides strong synergy in Downtown St. Petersburg among many other retail, office, and multi-family properties with several new mixed-use developments proposed or under construction including the 86-acre redevelopment of Tropicana Field. There are over 8,500 existing Multi-family units in Downtown and more than 9,000 units planned (Downtown St. Pete Development Guide 2022).

With multiple redevelopment projects in the immediate area, this submarket’s rental rates and property values are expected to significantly appreciate in the coming years.