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1401 5th Ave N
Saint Petersburg, FL 33705

$5,900,000 USD

Medical For Sale • 13,623 SF

Property Details

Property Type Medical
Total Building Size 13,623 SF
Lot Size 1.68 AC
Building Class B
Year Built 1977
Cap Rate 7.47 %
Tenancy Multiple
Zoning CG

45 Transit Score

68 Walk Score

                
                    Highlights
                
                                AN ENTIRE BLOCK FOR SALE IN DOWNTOWN ST. PETERSBURG, FL!  100% OCCUPIED WITH 18 MULTIFAMILY UNITS AND A 13,000+/SF OFFICE BUILDING.
                            
                                THE SITE WAS RE-ZONED IN 2024, TO ALLOW FOR THE DEVELOPMENT OF AT LEAST 54 NEW MULTIFAMILY UNITS, AND POTENTIALLY UP TO AS MANY AS 106 NEW UNITS!
                            
                                SELLER FINANCING AVAILABLE! APPROX TERMS: $4,300,000 DOWN, 5% FIXED IR, INTEREST-ONLY PAYMENTS, 3 TO 5 YEAR BALLOON!
                            
                                7% CAP RATE AND 8% CASH-ON-CASH RETURN IN PLACE!  8% CAP RATE AND 9% CASH-ON-CASH RETURN IN 2025!
                            
                                RARE OPPORTUNITY TO PURCHASE AN ENTIRE BLOCK IN DOWNTOWN ST. PETE!
                            
                                THE PROPERTY IS CURRENTLY CASH-FLOWING AND COMES WITH AN AMAZING AND APPROVED DEVELOPMENT OPPORTUNITY!

Property Flyers

DOWNTOWN ST. PETE DEVELOPMENT OPPORTUNITY

Cap Rate:

7.47 %

Amenities

Atrium
Bus Line
Conferencing Facility
Fenced Lot
Security System
Signage
Skylights
Wheelchair Accessible
Kitchen
Accent Lighting
Reception
Storage Space
Central Heating
Demised WC facilities
Fully Carpeted
High Ceilings
Recessed Lighting
Secure Storage
Hardwood Floors
Monument Signage
Air Conditioning
Fiber Optic Internet

Public Transportation

Airport	Drive	Walk	Distance
St Pete-Clearwater International	23 min	-	12.0 mi
Tampa International	30 min	-	20.7 mi
Sarasota/Bradenton International	49 min	-	33.4 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	20
Type:	Surface
Included in Rent:	Yes

David Rosenthal 813-245-7333 Grimaldi Commercial Realty Corp.

1401 5th Ave N Saint Petersburg, FL 33705