4th St. PLAZA SITS ON THE MOST HIGHLY SOUGHT AFTER LOCATION IN ALL OF ST. PETERSBURG. THIS AMAZING RETAIL CENTER SITS IN A PRIME LOCATION JUST MILES FROM DOWNTOWN ST. PETE. 4TH ST. N IS ST. PETERSBURG PREMIER RETAIL CORRIDORS WITH A TRAFFIC COUNT OF NEARLY 36,000 CARS PER DAY. SINCE 2017 CONSUMER SPENDING HAS TOPPED NEARLY 2.1 BILLION IN THIS RETAIL TRADE AREA ALONE MAKING THIS THE FIRST CHOICE OF MANY RETAILERS. 4TH ST. N IS THE MAIN THROUGHWAY CONNECTING TAMPA, TO DOWNTOWN ST. PETERSBURG. 4TH ST. PLAZA IS THE PERFECT INVESTMENT FOR AN INVESTOR LOOKING TO BUY AND HOLD PROPERTY WITH MASSIVE UPSIDE. EVEN WITH THE LONG-TERM LEASES IN PLACE, THIS PROPERTY HAS TREMENDOUS UPSIDE, DUE TO ITS LOCATION. OVERTIME THIS PROPERTY WILL SIGNIFICANTLY APPRECIATE WHILE THE RENTAL RATES WILL CONTINUE TO ESCALATE. THE LONG TERM LEASES GIVE A BUYER FANTASTIC SECURITY MOVING FORWARD AND WILL MAKE THIS PROPERTY EXTREMELY EASY TO MANAGE AND MAINTAIN. THIS TYPE OF ASSET DOES NOT COME ALONG VERY OFTEN AS 4TH ST. N IS THE MOST HIGHLY SOUGHT AFTER RETAIL CORRIDOR IN ALL OF ST. PETERSBURG, FL! 4TH ST. PLAZA, IS A ONE OF A KIND, CONCRETE BLOCK, RETAIL CENTER LOCATED ON NOTORIOUS 4TH ST. IN ST. PETERSBURG, FL. THE STRIP CENTER IS 100% OCCUPIED WITH LONG-TERM TENANTS AND ABOVE AVERAGE RENTAL RATES. THE CENTER IS APPROXIMATELY 5,144 S/F, WITH APPROXIMATELY 4,608 S/F OF GROSS LEASEABLE SPACE. THE PROPERTY HAS AMPLE PARKING IN BOTH THE FRONT AND REAR OF THE CENTER AND AMAZING FRONTAGE ON 4TH ST. N. RARELY DOES PROPERTY LIKE THIS COME AVAILABLE ON 4TH ST. N WITH ALL OF THESE FEATURES! 4TH ST. PLAZA HAS A TOTAL OF 7 TENANTS, ALL ON NEWLY SIGNED LONG-TERM LEASES RANGING FROM 3 YEARS TO 5 YEARS. EACH LEASE HAS AN ANNUAL ESCALATION OF AT LEAST 2.5%, AND IN SOME CASES AS HIGHT AS 5%. THESE LEASES PROVIDE THE BUYER WITH LONG TERM SECURITY MAKING THIS INVESTMENT THE PERFECT BUY AND HOLD OPPORTUNITY! THE VALUE OF THIS PROPERTY WILL ONLY CONTINUE TO RISE WITH ALL OF THE RECENT DEVELOPMENT ON 4TH ST. N. TENANTS ARE RESPONSIBLE FOR ALL OPERATING EXPENSES INCLUDING BUT NOT LIMITED TO PROPERTY TAX, PROPERTY INSURANCE, CAM, MANAGEMENT, UTILITIES, GARBAGE, SEWER AND, WATER. TENANTS ARE RESPONSIBLE FOR THE MAINTENANCE AND REPAIRS ON THEIR RESPECTIVE UNITS, INCLUDING A/C MAINTENANCE. THE PROPERTY IS IN EXCELLENT CONDITION AND WILL REQUIRE LITTLE IF ANY CAPEX. THE OWNER HAS RECENTLY IMPROVED THE PROPERTY BY PUTTING IN ALL NEW LANDSCAPING, NEW BATHROOMS IN MULTIPLE UNITS, NEW KITCHENS, NEW DIVIDING WALLS, NEW INTERIOR AND EXTERIOR PAINTING, AS WELL AS A/C UPGRADES IN MULTIPLE UNITS!
