406 11th Avenue N, St Petersburg, FL 33701

Description

Excellent Mixed-Use property in one of St. Pete's most coveted neighborhoods, Historic Uptown. This neighborhood is exploding due to the growth of and proximity to downtown St. Pete and the 4th Street Retail Corridor. Located one (1) tax lot off of the major retail hub (4th Street) with substantial parking, this property features two (2), two (2) story structures built in 1938 and 1953, respectively. The front building, ground floor unit is leased to a hair salon and the 2nd floor is leased to a tanning bed company. Both buildings are solid concrete block structures with flat roofs. The rear structure features three (3) studio style apartments and garage-like storage space. All commercial and residential units are individually metered for electric and there is one (1) water meter for the entire property. All of the in-place leases are below market rental rates and pose a value-add component with or without buyer putting cap-ex into the interior build-out, etc. All tenants are either month to month or have leases that expire in early 2022.