Station House
For sale260 1st Ave S, St. Petersburg, FL 33701
Property type
Office
Unit / Space count
1
Price
$18,500,000
Building size
31,079 sf
Rentable area
31,079 SF
Year built
1985
Year renovated
Property class
A
Occupancy
Zoning code
Lot size
0.21 Acres
Price per Unit
$18,500,000
Price per SF
$595.26
Property description
Franklin Street is pleased to present a rare opportunity for an investor or owner-occupier to acquire the crown jewel of Downtown St. Petersburg. This iconic, fully furnished, 5-story mixed-use asset features 35,766 square feet of gross area. Originally constructed in 1911 as a historic fire station and train depot, the property perfectly blends its original industrial aesthetic with a modern, experiential workspace. The building spans 29,713 square feet of heated space, balanced with a 50/50 split between street-level retail/restaurant use and office spaces. Currently operating as a community-driven club tailored for tech, real estate, and entrepreneurial professionals, the property offers 30 offices and full break kitchens on all three mixed-use floors. Premium, high-end amenities include 6,000 square feet of outdoor rooftop terraces and balconies, an onsite cafe and bar, event spaces, and an immaculate, fully functional Commercial Bank vault. Situated in the dynamic urban core of St. Petersburg, the property offers immediate walkability to Central Ave, the waterfront, and central business district amenities. This prime location provides direct access to a strong employee and customer base, anchored by major regional economic drivers like local universities and airports. The surrounding area is experiencing rapid growth, surrounded by luxury condos and new hotel developments that continue to drive affluent residential density and pedestrian foot traffic. The asset has undergone extensive capital improvements to ensure turnkey operations, including a new roof (2015), a new chiller (2022), and a fully modernized elevator system (2024), alongside meticulously maintained HVAC units. Offered with fee simple ownership of both the land and improvements, this listing allows the next owner to immediately benefit from asset depreciation in a no-income-tax state.
Property highlights
- ASSET OVERVIEW
- Type: 5-Story Premium Mixed-Use Building in Downtown St. Petersburg
- Total Size: .21 Acres (9,258 SF) | 35,766 Gross SF | 29,713 Heated SF
- Outdoor Space: 6,000 SQFT of Rooftop, Terraces, and Balconies
- Space Split: 50% Retail & Restaurant | 50% Office & Mixed-Use
- Condition: Turnkey sale (fully furnished) with an immaculate, functional historic bank vault
- Zoning: Allows for high density of 10.0 Floor Area Ratio (FAR)
- CAPITAL IMPROVEMENTS & INFRASTRUCTURE
- Elevator: Fully modernized and upgraded (2024)
- HVAC Chiller: Brand new installation (2022)
- Roofing: Completely replaced (2015)
- Climate Control: All HVAC units perfectly maintained and in good working order
- HISTORY & MODERN POSITIONING
- Heritage: Built in 1911 as a historic fire station and train depot
- Aesthetic: Preserved industrial architecture meets modern character
- Current Concept: Membership-based club and experiential workspace
- Layout: 30 private offices, full break kitchens on all 3 mixed-use floors
- Upside: Ample room for owner-occupant expansion or large-format tenants
- FINANCIAL & TAX ADVANTAGES
- Ownership: Fee simple land and building ownership maximizes depreciation benefits
- Tax Environment: Located in Florida, a no state income tax market