1506 54Th AveSt. Petersburg, FL 33703

Property Details for 1506 54Th Ave

Year built

1957

Construction

CONCRETE BLOCKS

Lot size

0.42 AC

Property size (Sq ft)

5,568 SF

Property type

Retail properties

Property subtype

Strip malls

APN

01-31-16-15009-001-0010

APU

13116150090010010

Description

This exceptional 2,250 sq ft endcap unit in the remodeled Hillside Center at 1506 54th Ave N, St. Petersburg, FL 33703 offers a rare opportunity. Boasting a highly desirable CCS-1 zoning, it allows for diverse uses including restaurant, retail, office, and more. Located at the intersection of 16th Street and 54th Avenue North, this property benefits from approximately 24,000 daily car counts and direct visibility from the 54th Avenue interstate exit. The unit features a completely updated interior with 11-foot ceilings, exposed metal rafters, restored terrazzo floors, new lighting and baseboards, two remodeled ADA bathrooms, and a private office. Additional features include 700 sq ft of dedicated exterior space, three-phase electric service, overhead garage door access for rear loading, and a brand new parking lot and roof (2023). The building's concrete block construction ensures durability. The 6,960 sq ft building offers 30 parking spaces. This is a unique opportunity to secure a drive-thru-permitted space in St. Petersburg, a rarity in the market, without the need for new construction. The property's high visibility and versatile zoning make it ideal for a variety of businesses seeking a prominent location at a competitive price.

• CAP approach

  CAP return

  Valuation

  6%

  $1,875,273

  6.5%

  $1,731,021

  7%

  $1,607,377

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,731,250

  Geo Method

  $1,731,250

• Alternative Use

  Use

  Valuation

  Residential

  $1,460,181

  Hospitality

  $1,337,518

  Educational

  $1,112,799

  Medical

  $1,151,070

  Retail

  $1,731,021

Location Insight

City

Saint Petersburg

County

Pinellas

State

Florida

Latitude

27.8208

Longitude

-82.6543

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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