6499 38Th Ave St. Petersburg, FL 33710

This exceptional investment opportunity presents a 19,800 square foot mixed-use medical office and retail building located at 6499 38th Ave N, St. Petersburg, FL 33710. The property, built in 1973 and renovated in 2012, consists of two single-story buildings totaling 12 units across 19,800 net rentable square feet. Currently operating at 60% occupancy with six tenants under a triple net (NNN) lease structure, the property boasts a strong lease term averaging 2.7 years remaining on a 10-year lease commencing January 31, 2016, and expiring February 12, 2026. Annual rent bumps of $1 per square foot are in place. The property features 82 parking spaces and sits on a 59,295 square foot lot, zoned for medical offices. The asking price is $2,350,000, representing a current cap rate of 6.00% and a pro-forma cap rate of 7.30%. The current Net Operating Income (NOI) is $120,845, with a pro-forma NOI of $219,437. This prime location directly across from St. Petersburg Hospital on a busy four-lane road offers significant potential for increased occupancy and revenue. Financial details, leases, and other pertinent information are available upon request. The property's Class B designation reflects its solid condition and potential for further value enhancement.