4701 Central AveSt. Petersburg, FL 33713

Property Details for 4701 Central Ave

Year built

1973

Construction

CONCRETE BLOCKS

Lot size

0.34 AC

Property size (Sq ft)

5,168 SF

Property type

Office buildings

APN

21-31-16-14562-008-0140

APU

213116145620080140

Description

This exceptional mixed-use property, located at 4701 Central Avenue in St. Petersburg, Florida, presents a compelling investment opportunity. The 5,922 square foot building, constructed in 1973 and renovated in 1990, sits on a 0.34-acre lot and offers 5,168 square feet of net rentable space. The two-story building features 24 parking spaces and is zoned CRT-1, allowing for a variety of uses. Currently configured for bank, creative office, and medical office uses, the property boasts multiple offices, conference rooms, and ample storage. Its high-and-dry location eliminates the need for flood insurance, providing peace of mind. The property's strategic location on Central Avenue offers high visibility and easy access to major highways and local amenities, placing it within the burgeoning Warehouse Arts District and Historic Kenwood neighborhoods. This area is experiencing significant appreciation and development, presenting substantial long-term growth potential. The property includes a tenant occupying a portion of the building with a separate entrance, generating immediate rental income. The sizable lot allows for future expansion or redevelopment opportunities, including the addition of office space, retail components, residential units, or enhanced parking and amenities. The asking price is $2,500,000. This is an owner/user investment opportunity in a Class C building.

• CAP approach

  CAP return

  Valuation

  6%

  $1,007,491

  6.5%

  $929,992

  7%

  $863,564

• Comparable approach

  Method

  Valuation

  Relative Method

  $569,927

  Geo Method

  $569,927

• Alternative Use

  Use

  Valuation

  Residential

  $1,153,190

  Hospitality

  $1,056,316

  Educational

  $878,842

  Medical

  $909,067

  Retail

  $1,367,088

Location Insight

City

Saint Petersburg

County

Pinellas

State

Florida

Latitude

27.7712

Longitude

-82.6973

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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