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Retail Strip Center - FOR SALE...•Flood Zone: X (AE-9) •6.5/1,000 parking •Built in 1972...

Date post: 18-Sep-2020
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Retail Strip Center - FOR SALE 4601 - 4619 4 th Street North St. Petersburg, FL 33703 For additional information, please contact: Wendy Giffin 727-599-3799 Value Add Opportunity NOI $103,587 CAP Rate: 7.4% Current average rental rate: $23.02/SF Market rental rate: $30-35/SF NNN; creates opportunity to increase NOI Opportunity to increase NOI by transitioning leased SF of 4,500 SF to actual 4,608 SF 10.5% Cap Rate is achievable Sale Price: $1,400,000 Building Size: 4,608 SF (5,144 gross) Land Size: 15,750 SF (0.36 acres) Zoning: CCS-1 Flood Zone: X (AE-9) 6.5/1,000 parking Built in 1972 Concrete block construction Currently one vacancy (1,344 sf) Amenities AADT 41,000 Strong tenant mix of office & retail uses Lease expirations over the next five years Large pylon sign, grandfathered in on 4 th St. Plentiful Parking Good visibility from 4 th Street In the strong retail area between 38 th and 54 th Avenues on 4 th Street N Investment Opportunity
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Page 1: Retail Strip Center - FOR SALE...•Flood Zone: X (AE-9) •6.5/1,000 parking •Built in 1972 •Concrete block construction •Currently one vacancy (1,344 sf) Amenities •AADT

Retail Strip Center - FOR SALE4601 - 4619 4th Street North

St. Petersburg, FL 33703

For additional information, please contact: Wendy Giffin 727-599-3799

Value Add Opportunity

•NOI $103,587

•CAP Rate: 7.4%

•Current average rental rate:

$23.02/SF

•Market rental rate: $30-35/SF

NNN; creates opportunity to

increase NOI

•Opportunity to increase NOI by

transitioning leased SF of 4,500

SF to actual 4,608 SF

• 10.5% Cap Rate is achievable

Sale Price: $1,400,000

• Building Size: 4,608 SF

(5,144 gross)

• Land Size: 15,750 SF (0.36

acres)

• Zoning: CCS-1

• Flood Zone: X (AE-9)

• 6.5/1,000 parking

• Built in 1972

•Concrete block construction

•Currently one vacancy

(1,344 sf)

Amenities

• AADT 41,000

• Strong tenant mix of office &

retail uses

• Lease expirations over the next

five years

• Large pylon sign, grandfathered

in on 4th St.

• Plentiful Parking

•Good visibility from 4th Street

• In the strong retail area

between 38th and 54th Avenues

on 4th Street N

Investment Opportunity

Page 2: Retail Strip Center - FOR SALE...•Flood Zone: X (AE-9) •6.5/1,000 parking •Built in 1972 •Concrete block construction •Currently one vacancy (1,344 sf) Amenities •AADT

4601 - 4619 4th Street N.ST. PETERSBURG, FL 33703

LOCATION

•Excellent location on the east side 4th Street N., a major N/S artery

•Situated between 38th Avenue N. and 54th

Avenue N., minutes to Downtown St. Petersburg

•Close to residential areas and many national and regional retailers; Publix, Bonefish, Starbucks, Fresh Kitchen, Red Mesa, Chic-Fil-A, PDQ, and many more

To Tampa

To Downtown

St. Petersburg

4th

Stre

et N

.

Proximity: 1 mile 3 miles 5 miles

Total Population: 18,565 118,660 244,163

Median Age: 44.22 44.17 41.77

Households: 8,838 55,178 108,336

Demographic Statistics

Page 3: Retail Strip Center - FOR SALE...•Flood Zone: X (AE-9) •6.5/1,000 parking •Built in 1972 •Concrete block construction •Currently one vacancy (1,344 sf) Amenities •AADT

Wendy Giffin

Director

+1 727 599 3799

[email protected]

200 Central, Suite 2100

St. Petersburg, FL 33704

cushmanwakefield.com

4601 - 4619 4th Street N.ST. PETERSBURG, FL 33703


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