1501 5th Avenue N, St Petersburg, FL 33705

$4,255,000
3,730
SqFt

Property Description

Zoning is IN PLACE. Property is located within an OVER LAY DISTRICT and has an FAR of 2.5 allowing up to 58,800 Sq. Ft. MOL of improvements. Property also qualifies for TDR's (Transfer of Density Rights). The total TDR's would be approximately 54,800 Sq. Ft. (total Density rights - size of existing building). Thus 58,800 - 4,000 (existing building is approximately 3,730 Sq. Ft.) = 54,800 Sq. ft. of TDR's Current structure is a One level Medical Office one block from St. Anthony's Hospital. St. Anthony's is currently undergoing a $150,000,000+ million expansion. Building is a "Mid Century" Architectural Design. Building has abundant parking. There are approximately 51 Spaces, which equates to over 13 spaces per 1,000 Sq. Ft. That is one of the best parking ratios in all of St. Petersburg. Grass covered Vacant lot to west of parking lot, goes with the property. The vacant lot is covered in grass for over flow parking but could be paved. If a you prefer to Lease, Owner is capable and willing to renovate building to suit your needs. Owner feels building could be renovated to be a stunning Mid Century building. Owner has been responsible for the total renovation of many St. Petersburg properties. These prior renovations have been of the highest quality. Buyer / Tenant can see, and judge for themselves the quality of prior projects. There are many flexible ways in which to structure a deal. Seller can provide Seller Financing. To be clear, Buyer can purchase the property "AS IS".

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Listing courtesy of BSRA LLC.