JUST REDUCED $225,000 !! 7.22% CAP RATE !! TURN KEY AND WORRY FREE !! Hillside Center at 1506 54th Avenue N in St. Petersburg is a fully stabilized, fully renovated strip center offered at a 7.2% cap rate with strong upside potential. This concrete block and slab building with steel roof decking sustained no damage from the 2024 storms and is outside any FEMA flood zone. 100% occupied by established, upscale tenants, the property sits just off an Interstate 275 exit with an average daily traffic count of 27,000 vehicles (VPD). Desirable CCS-1 zoning allows for drive-thru, restaurant, bar, pet care, pharmacy, daycare, fitness, office, microbrewery, and retail uses by right, offering exceptional long-term flexibility. Having recently undergone a complete interior and exterior renovation, the building leaves no deferred maintenance. Upgrades include a new roof (2023), new HVAC systems, exterior paint and lighting, resealed and striped parking lot, new fencing, landscaping, and a fully rewired pylon sign with new panels. Each of the five units was redone entirely with updated lighting, ADA-compliant restrooms, and restored terrazzo flooring, and every tenant enjoys a private outdoor area. With popular lifestyle operators, including an aesthetician, a hair care studio, and a florist, alongside a multi-unit, statewide healthcare provider as a co-anchor, the center’s tenant mix is highly desirable. Tenants maintain an excellent reputation with loyal customer bases and consistent 5-star Google and Yelp ratings supported by hundreds of reviews. Leases include annual rent escalations, and half of the building is already under NNN leases, creating immediate net operating income (NOI) growth potential as remaining leases convert. According to The Wall Street Journal (2023), strip centers are currently the strongest asset class in commercial real estate, with national vacancies under 5%. Hillside Center offers investors a turnkey, fully leased, pride-of-ownership property with steady cash flow, built-in rent growth, and significant long-term redevelopment potential under its rare CCS-1 zoning. Financials Available on request. REDUCED $225,000 !! 7.22% CAP RATE !! TURN KEY AND WORRY FREE !!