1113 Central AveSt. Petersburg, FL 33705

Property Details for 1113 Central Ave

Year built

1940

Property size (Sq ft)

6,888 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional 17,879 sq ft mixed-use redevelopment opportunity in the heart of St. Petersburg, Florida, presents a unique investment prospect. Located at 1113 Central Ave, this property encompasses three vacant buildings totaling 6,888 square feet, built in 1940 and renovated in 2018. The property sits on a single, contiguous lot, zoned DC-1, and is fully entitled for a 114-key hotel development. The existing structures are in good condition and could be immediately leased for retail use, with market rents currently ranging from $45-$50/NNN. Significant upside potential exists through further development. The current zoning allows for substantial as-of-right development, with the potential for Floor Area Ratio (FAR) increases up to 5.0 via streamlined processes, or up to 7.0 through public hearings. This prime location offers developers the flexibility to pursue various projects, including hotels, condominiums, or apartments, making it an ideal investment for those seeking a high-return opportunity in a thriving St. Petersburg neighborhood. The property's vacant status ensures immediate commencement of redevelopment or leasing activities. This is a truly exceptional opportunity to capitalize on the vibrant St. Petersburg market. The property is located in Pinellas County, Florida, zip code 33705.

Location Insight

City

St. Petersburg

County

Pinellas

State

Florida

Latitude

27.7711

Longitude

-82.6503

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