6700 22nd Ave N - Bank FOR SALE


Saint Petersburg, FL 33710- Crossroads Area
$3,999,999 USD
813-335-0333
6700 22nd Ave N, Saint Petersburg, FL for Sale
$3,999,999 USD
Bank - FOR SALE
1/10
null | 4.07% Cap Rate

6700 22nd Ave N
Saint Petersburg, FL 33710
Crossroads Area


OVERVIEW

Rare ABSOLUTE NNN investment with Florida Blue (Blue Cross Blue Shield) as the tenant! The lease is executed by “BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC., a Florida corporation d/b/a Florida Blue ("Tenant")”. Their credit rating with AM Best is A+ (Superior) and their long-term Credit Rating is "aa-" (Superior). S&P Global affirmed an 'A+' rating for Blue Cross & Blue Shield of Florida Inc. in 2019. Founded in 1929, Blue Cross Blue Shield is a leading health insurance provider and helps cover roughly 115 million Americans. Blue Cross / Blue Shield also has a new medical center directly behind the site leading to the presumption this is a very long-term play. Very few Florida Blue NNN investment real estate deals hit the market & I believe this is the only one available in the country currently. Landlord just put a new roof on the building which converts the lease to an ABSOLUTE NNN LEASE! Florida Blue (Blue Cross / Blue Shield) has executed a 10-year lease of the property and opened for business May 13th, 2026. The 10-year initial term has 2 renewal options of five (5) years each (the "Renewal Periods"), with rental rate increases in the amount of 10% every five (5) years including each Renewal Period. The Florida Blue rent for years 1-5 will be $162, 855 ($45NNN). The rent of $45 SF is one of the strongest in the Tyrone submarket which has a high barrier of entry. Tenant is responsible for all expenses including property tax, insurance, roof and maintenance. The building is in absolutely perfect condition. The lease is ABSOLUTE NNN making this an ideal, management-free investment opportunity for a passive investor. The Tyrone submarket is a very strong retail submarket of St Petersburg with very little inventory for sale or lease.  The site is directly across from Tyrone Square Mall and Dick's Sporting Goods. Other big box retailers in the immediate area beyond Tyrone Mall include Home Depot, Burlington, Office Depot, Publix, Michael’s, Beall’s, TJ Maxx & Marshalls, among others.  The Tyrone submarket is the heart of retail shopping in St Petersburg.  There are over 250,000 + residents within a 5-mile radius. The building is 3,619 SF and has always been operated by a national bank or a brokerage house (Schwab) and impeccably maintained by their maintenance departments. The lot size is .92 acre and is Zoned CG. There are 43 parking spaces (newly paved), a large grandfathered in pylon sign and full ingress/egress with 175’ ft of frontage on 22nd Ave N. with excellent visibility from both directions.  This property is in pristine condition and the perfect investment for a passive investor.  And FLORIDA HAS NO STATE INCOME TAX ! NOTE: DUE TO SCAMMERS, I WILL NOT RESPOND TO EMAILS, IF YOU HAVE ANY ADDITIONAL QUESTIONS, I'M A PHONE CALL AWAY AT 813-335-0333.

FOR SALE DETAILS

PRICE

$3,999,999 USD

PRICE/SF

$1,105 USD /SF

CAP RATE

4.07%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Florida Blue Branch - Absolute NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

CG, St Pete

APN/PARCEL ID

18-31-16-19751-001-0010

ASK ABOUT THIS PROPERTY

Michael MariniSiteworks CommercialMore Info
813-335-0333

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Michael MariniSiteworks CommercialMore Info
813-335-0333

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