office/retail/redevelopment investment property with ...€¦ · st.petersburg, fl 33701 sitting at...

FOR SALE: $3,200,000

Central Avenue

Office/Retail/Redevelopment Investment Property

with Corner Parking Lot or Development Site

2200, 2210, 2220 Central Avenue

St. Petersburg, FL 33712

LOT SIZE: 14,800 Total Square Feet

148’ on Central Avenue x 100’ Deep

BUILDINGS: 11,920 Square Feet

Sarah J. Parker Office: 727 502-0255

Cell: 727 458-6146

Fax: 727 502-0277 profoundproperties@gmail.com

Commercial Real Estate Broker

33 6th Street South, Suite 302

St.Petersburg, FL 33701

www.profoundproperty.com

Sitting at the gateway to the burgeoning “Arts and Warehouse District” in trendy Grand Central, this three

parcel corner consists of two, iconic, mid-century modern office retail buildings and corner lot which offer

exciting opportunities for the investor, owner-occupant or developer.

Well-maintained buildings are currently used as office/retail. The property has undergone extensive renova-

tions to provide up-to-date innovative spaces for a potential owner-occupant on the second floor and four

tenant-occupied spaces for additional income. Second floor has elevator access. The classic mid-century

modern design includes skylights, exposed ductwork, LED lighting, cork flooring, restored terrazzo—all the

best finishes throughout! Second floor space consists of approximately 4,000 square feet. Current tenants

include: Insurance Claims Adjusters, Artist Studios, Luxury Real Estate Management office, Software Devel-

opment School, and Law Firm.

The lot which occupies approximately 5,400 sq. ft. on the SW corner of Central Avenue and 22nd Street, is

currently partially used for parking but has endless development possibilities. Leases are below current

market rates with a substantial upside potential for the long term or 1031 exchange investor (see current

and potential rent rolls).

The property has been priced to sell by a motivated owner. Call today for an appointment to explore the

possibilities.

Corridor Commercial Traditional (CCT-2) zoning allowing for numerous uses including but not limited to: Office, Medical, Banks, Live/Work, Retail, Restaurant, Brewpub, Service, Studio, Mixed Use, Multifamily, etc.

Three Adjoining Lots: 53’ X 100’, 45’ X 100’ and 50’ X 100’ totaling 14,800 Square Feet with 148‘ of frontage directly on Central Avenue at the “entrance” to the 22nd Street Arts District providing excellent visibility, signage opportunities and immersion in the professional arts community.

Within a short distance of all downtown amenities, museums, shopping, hospitals, and restaurants.

Easy access to Interstate 275, downtown and mid-Pinellas County: West to beaches and East to the bay!

Flood Zone: X, non-evacuation.

Current NOI: $167,645 Pro Forma NOI at Market Rates: $322,200

Thirteen on-site parking spaces plus on-street non-metered street parking.

Located in the Enterprise zone – potential for income and sales tax savings.

FEATURES:

2200 Central Avenue Corner Lot, Currently used for Parking

Parking Behind Buildings

with Covered Entrances

2220 Central Avenue

Second Floor Offices

2220 Central Avenue

First Floor Unfurnished

2210 Central Avenue