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200 1st Ave S
Saint Petersburg, FL 33701
Retail Property For Sale
Investment Highlights
- 100% Occupied by Two (2) Dining Concepts, Absolute NNN Leases - Hands Off Condo Management
- 50 Spaces in attached McNulty Parking Garage controlled by owner
- Located at a Pedestrian-centric Signalized Corner, High Foot Traffic Environment
- Annual Rent Increases Hedge Against Inflation
- Newly Signed Leases
Executive Summary
CBRE is pleased to present a premier two-tenant retail investment located at 200 1st Avenue South in the heart of downtown St. Petersburg, occupied by Ford's Garage, a high-performing, experiential dining concept known for its strong regional draw and consistent consumer traffic, and Aji Ceviche, a rising culinary concept dotted throughout southwest and central Florida.
The property's most distinctive feature is its direct connection to the McNulty Public Parking Garage, a 24-hour, 525-space facility that provides unmatched visibility, accessibility, and exposure for both tenants. What sets this asset apart from virtually every other urban retail investment in the market is that the landlord participates in garage revenue, generating a meaningful income stream entirely outside of base rents. This type of ancillary income is exceptionally rare in a retail investment structure and materially strengthens the overall return profile, providing a layer of cash flow that is completely independent of tenant performance or lease obligations.
The property sits at the center of one of Downtown St. Pete's most active pedestrian corridors, surrounded by a dense mix of hotels, luxury residential towers, museums, and entertainment venues that generate sustained foot traffic throughout the day and into the evening.
The property's most distinctive feature is its direct connection to the McNulty Public Parking Garage, a 24-hour, 525-space facility that provides unmatched visibility, accessibility, and exposure for both tenants. What sets this asset apart from virtually every other urban retail investment in the market is that the landlord participates in garage revenue, generating a meaningful income stream entirely outside of base rents. This type of ancillary income is exceptionally rare in a retail investment structure and materially strengthens the overall return profile, providing a layer of cash flow that is completely independent of tenant performance or lease obligations.
The property sits at the center of one of Downtown St. Pete's most active pedestrian corridors, surrounded by a dense mix of hotels, luxury residential towers, museums, and entertainment venues that generate sustained foot traffic throughout the day and into the evening.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,700 SF
Building Class
C
Year Built
2010
Price
$9,265,000
Price Per SF
$955.15
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.93
Lot Size
0.24 AC
Zoning
DC-1 - Downtown Center
Parking
50 Spaces (5.32 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Property Taxes
| Parcel Number | 19-31-17-74466-036-0011 | Improvements Assessment | $2,359,998 |
| Land Assessment | $2 | Total Assessment | $2,360,000 |
Property Taxes
Parcel Number
19-31-17-74466-036-0011
Land Assessment
$2
Improvements Assessment
$2,359,998
Total Assessment
$2,360,000
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