Super Scarcity > Off Market and Opportunity Zone > The Edge Center
This Site is OFF MARKET - OFF MARKET. Prime Opportunity on Central Avenue in The Edge District of Downtown St Petersburg, Florida., in the Opportuity Zone.
This Site is extraordinary in all ways. Either as a Redevelopment Play or as in it's current exceptional use and condition.
Our Offering is 21120 sf of landmass with 17332 sf of buildings. Currently, the configuration is a front outbuilding for retail. The large rear building has 3995 sf mol of Class A Contemporary Office and 4995 sf mol of Luxury Living Quarters in two Apartments. The building also boasts of 8,000 sf of deluxe basement space. The Property also has plenty of parking, a dipping swimming pool, and great exposure.
PLEASE NOTE: There are several Valuable Opportunities with this Property - 1) Unused Land for Expansion of Retail 2) Going Vertical with Multi-Family Mixed Use 3) Vertical Office Building with Mixed-Use.
This is an Off-Market Opportunity Zone Commercial Real Estate Site on a destination corridor, in a destination shopping district, in a destination downtown, in a destination city, in a destination state.
Revenues: Front Retail Building - $46,970.00 NOI
Office Building - $87,890 NOI
Luxury Apartments - $96,000 Gross
Total Blended Income: $230,860.00
Land Value by itself comps out to 2.1 M,
City of St Pete: http://www.stpete.org/portal-things-to-do.php
The Edge District: http://www.edgedistrict.org/index.html
Location Description: SIMPLY SUPERB - The Location is on the 1000 block of Central Avenue.
The Site is located in "The Edge" Shopping & Dining District in Downtown St Petersburg. The Edge is in the heart of Downtown with the 600 Block, Jannus Block and Beach Drive to the East and Grand Central to the West.
