813-293-7887
260 1st Ave S, Saint Petersburg, FL for Sale
Office/Residential - FOR SALE
1/16
null | Request Cap Rate

260 1st Ave S
Saint Petersburg, FL 33701
Bayfront


HIGHLIGHTS

  • Crown jewel of Downtown St. Pete: 5 story, 35,766 SF mixed use building with roughly 6,000 SF of rooftop, terraces, and balconies
  • Fee simple ownership of land and improvements, allowing full depreciation to offset taxable income
  • Conveys fully furnished, including a fully functional Commercial Bank vault
  • Originally built in 1911 as a fire station and train depot, fully renovated in 2018 with preserved industrial character
  • Major recent capex: new roof (2015), new chiller (2022), full elevator modernization (2024)

OVERVIEW

The crown jewel of Downtown St. Pete. A 5 Story, mixed-use building consisting of 35,766 square feet of gross area and 29,863 square feet of heated area, of which roughly 50% is retail/restaurant use and roughly 50% is office/mixed use with roughly 6,000 sq ft of outdoor rooftop, terraces, and balconies The property comes fully furnished upon sale and includes a fully functional, immaculate Commercial Bank vault The property has undergone significant capital expense improvements over the past few years, including a new roof in 2015, a new chiller installed in 2022, a full modernization and upgrade of the elevator system in 2024, and all HVAC units have been well maintained and are in good working order Originally built in 1911 as a fire station and train depot, the property has been repositioned into a mixed-use destination while preserving its architectural character and industrial aesthetic Fully re-imagined as a membership-based club and experiential workspace, catering to tech, real estate, and entrepreneurial users with current office count of 30 offices, full break kitchens on all 3 mixed-use floors, with ample room for expansion for owner occupied user or large format tenants Situated in the urban core of St. Petersburg with immediate walk-ability to Central Ave, waterfront, and CBD amenities, benefiting from strong pedestrian traffic and dense employment base High end amenities including a rooftop terrace, on-site restaurant, café/bar and communal areas, conference facilities, and event/ social spaces Designed as a community-driven hub blending workspace, hospitality, and social activation with unique one of a kind street level multifloored retail/restaurant spaces Surrounded by significant new development including luxury condos, hotels, and mixed-use projects, increasing daytime population and affluent residential density Fee simple ownership of the land and the improvements allows for the next owner to depreciate the building and offset a significant amount of taxable income Florida is a no income tax state

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Station House

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

A

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

190

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

DC1

APN/PARCEL ID

19-31-17-74466-036-0040,19-31-17-74466-036-0060

ASK ABOUT THIS PROPERTY

Ryan DerrimanFranklin StreetMore Info
813-293-7887

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Ryan DerrimanFranklin StreetMore Info
813-293-7887

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