Downtown St. Pete Historic Mixed-Use Building

Retail-Commercial for Sale
Catylist Listing ID: 30849001
Property Subtypes: Mixed Use, Restaurant, Street Retail
Building Size (RSF): 28,688 SF
Gross Building Area: See Agent
Sale Price: $9,500,000
Unit Price: $331.15 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: The McCrory Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/7/2023

Overview / Comments

Exceptional investment opportunity in the thriving market of downtown St. Petersburg! Built in 1904, the McCrory Building has long been one of the most iconic and recognizable buildings in Downtown St. Pete. The remarkable mixed-use building offers the perfect blend of rich history, thriving commerce, and endless potential. Boasting an enviable location, The McCrory Building is Ideally situated on Central Avenue in the vibrant entertainment and historic business district. The proximity to the interstate offers easy access to the building for Tenant’s customers and staff.

The building has been beautifully maintained and recently renovated on the interior with modern touches, while preserving the historical charm of the early 1900’s. The ground-floor retail spaces are fully leased to successful and well-established restaurants. Above the ground floor retail, the building features an array of office spaces on the 2nd floor ranging from 250 RSF – 1,800 RSF. The 2nd floor offices feature hard wood flooring, and plenty of natural light coming through the numerous windows and skylights. The size of the office suites are ideal for a multitude of tenants seeking private office space in the Downtown market. The 3rd and 4th floors are currently leased to a modern co-work and shared workspace group.

The 400 block of Central Avenue has seen increased investment activity in recent years. The McCrory building is located in the heart of Downtown near numerous exciting new developments, and directly across the street from the 46-story luxury tower The Residences at 400, which is being developed by New York based develop Red Apple Group.

Take advantage of this rare opportunity to acquire a piece of history and invest in a property poised for exceptional growth and upside potential.

Contact us today to arrange a private tour and for additional information.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Taxing Authority: Pinellas County
Tax ID/APN: 19-31-17-74466-027-0160
Retail Clientele: General
Property Located Between: 5th St. S & 4th St. S
Property Visibility: Excellent
Feet of Frontage: 120
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 4
Property Condition: Good
Year Built: 1904
Construction/Siding: Concrete
Sprinklers: Wet
Heat Source: Central
Air Conditioning: Engineered System
Lot Frontage: 120 Ft.
Lot Depth: 100 Ft.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,828 104,979 240,953
Median Age: 44.56 40.38 42.24
Households: 9,031 45,901 105,397
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