Value-Add Shopping Center

VALUE-ADD SHOPPING CENTER: Check out this one-of-a-kind opportunity to buy a concrete block retail center, one block south of the popular Pinellas Trail, on busy 49th Street S in St. Petersburg. The average daily traffic count is 17,600. This center can serve up to 11 tenants, although it currently hosts nine with two tenants occupying “double” suites. Current rents are well below the South Pinellas submarket’s $19.67 PSF average rental rate. Seven of the 9 tenants are month-month so new owner gets flexibility with the current tenant mix. A retail marketplace analysis reveals demand for a specialty clothier, food and beverage store, garden supplier and nursery, vintage furniture, etc. The proximity to the Pinellas Trail exposes synergy for a bike shop or other trail-related businesses. The property is in an Opportunity Zone and lies within South St. Petersburg's Community Redevelopment Area where owners of commercial properties can apply for up to $20,000 in grant monies to improve the exterior façade of their properties. This building has 2 pylon signs, 29 parking spaces and road frontage on 3 sides. This is an opportunity to invest in a growing commercial corridor – just eight blocks south of Central Avenue and close to Downtown St. Pete, the historic Gulfport waterfront and our award-winning beaches.

Seller-financing available to qualified buyers.