2007 Pass A Grille Way
Saint Pete Beach, FL 33706
Sea Critters Cafe · Retail Property For Sale

A rare opportunity to acquire a landmark restaurant investment property in the southernmost tip of St Pete Beach, Florida. Offered as a Sale Leaseback with a proven restaurant producing strong historical sales known as Sea Critters Café®. Sea Critters Café® was featured on ABC Television’s “Tampa Bay Taste Tour”, written about in The New York Times and has won the St. Pete Beach Chamber of Commerce “Hospitality Plus Award”. Opened in the 80's and current owners operating since 2007. The namesake, Pass-A-Grille Beach remains one of the more highly regarded destination on Florida’s Gulf Coast. The Asset is situated on 0.42 acres and with a gross leasable area of 3,666 sf. The restaurant underwent recent renovations which included a new capped sea wall and upgrades to both interior and exterior aesthetics, including new deck and docks 552.3’ frontage. With the property sitting directly on Pass-A-Grille, docks allow boaters access to the restaurant for waterfront dining. The submarket has strong demographics comprised of active affluent adults with high disposable incomes. Considered the “Lynch Pin” of Pass-A-Grille, this location is unique and will continue to appreciate in value along with a strong income stream in-place. Low vacancy spurs development as local economy and demographics support growth. Strong rental gains have attracted many investors to the St. Pete market. A competitive bidding environment is encouraging some owners to bring properties to market as prices escalate to record highs and strengthen their opportunity to achieve investment objectives. This asset allows an investor to effectuate strong in place income in addition to property appreciation in the coming years.