One of downtown St. Petersburg’s prominent retail strips on Central Avenue is for sale.
The 15,848-square-foot property from 654 to 670 Central Ave. spans the entire southern half of the 600 block. Miami-based Tricera Capital owns the property and has selected the Franklin Street Retail Investment Sales Team of Anthony Suarez and Ryan Derriman to “exclusively market the trophy retail asset for sale,” according to Franklin Street.
“This is a rare opportunity to acquire a fully occupied retail asset that is home to some of downtown St. Pete’s most popular restaurants and shops, in a truly unbeatable location,” Suarez said in a release. “It’s such a true live, work, play environment, and with so many new projects in the immediate area, it’s hard not to be excited about the future of downtown St. Petersburg. There is a long runway ahead, particularly on Central Avenue, and we expect rents to continue to rise and property values to continue to appreciate.”
In total, the property covers approximately 0.36 acres. Recently the site received extensive renovations totaling more than $500,000, including “new fire safety systems, new roofing, updated electrical systems, new rooftop HVAC units, and new awnings with lighting.”