235-239 2nd Ave S, St - Storefront Retail/Office FOR SALE


Saint Petersburg, FL 33701- Bayfront
$10,900,000 USD
727-823-1230
235-239 2nd Ave S, St, Saint Petersburg, FL for Sale
$10,900,000 USD
Storefront Retail/Office - FOR SALE
1/10
null | Request Cap Rate

NEW


235-239 2nd Ave S, St
Saint Petersburg, FL 33701
Bayfront


HIGHLIGHTS

  • ±21,804 SF mixed-use building in the heart of Downtown St. Petersburg
  • Diversified, NNN-leased rent roll of office, medical, and retail tenants
  • ±88.7% leased with one vacant ±2,453 SF restaurant suite offering lease-up upside
  • In-place annual base rent of ±$612,556 with contractual annual rent escalations
  • Steps from Beach Drive, the St. Petersburg Pier, and the downtown Bayfront entertainment district
  • Two-story masonry building with adjacent street parking and adjacent McNulty Garage.

OVERVIEW

The Wilson Building presents a rare opportunity to acquire a mixed-use asset in the heart of Downtown St. Petersburg's thriving urban core. Located at 235-239 2nd Avenue South, the two-story property encompasses approximately 21,804 square feet and was originally constructed in 1924. Significant renovations and capital improvements were completed in 2022, modernizing much of the building while preserving its historic character. The property is occupied by a diversified mix of NNN tenants, including Black Leaf Cigar & Wine Bar, Growve/Viva 5 Corporation, and Jeff Scott Dentistry, providing stable in-place income. Additionally, one first-floor retail/office suite remains available for tenant buildout and occupancy, creating a compelling value-add opportunity for investors to increase revenue through lease-up or for owner-users seeking to establish a presence in one of Florida's most dynamic downtown markets. Strategically positioned just steps from Beach Drive, the St. Petersburg Pier, waterfront parks, museums, restaurants, hotels, and the Bayfront entertainment district, the Wilson Building benefits from exceptional visibility, pedestrian traffic, and continued investment throughout Downtown St. Petersburg. The combination of stabilized tenancy, leasing upside, and remaining buildout potential offers investors multiple avenues for value creation. As Downtown St. Petersburg continues to experience substantial residential, hospitality, and mixed-use development, opportunities to acquire well-located assets of this scale have become increasingly limited. The Wilson Building offers the chance to secure a strategic foothold in one of the Southeast's most desirable urban markets while capitalizing on the leasing and buildout opportunities that remain within the property.

FOR SALE DETAILS

PRICE

$10,900,000 USD

PRICE/SF

$495 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

SPRINKLERS

-

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

Commercial

APN/PARCEL ID

19-31-17-98148-000-0010

ASK ABOUT THIS PROPERTY

Michael HeretickVector Commercial Real Estate Services, LLCMore Info
727-823-1230

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Michael HeretickVector Commercial Real Estate Services, LLCMore Info
727-823-1230

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.