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Family Dollar 4901 Central Ave 12,237 SF Retail Building Saint Petersburg, FL 33710 $1,948,896 ($159.26/SF) 6% Cap Rate
Investment Highlights
- Corner lot with 45 parking spaces
- SunRunner Transit Overlay Benefits
- Double Net lease with Future Redevelopment
Executive Summary
Opportunity to buy in-place income with significant land upside. Family Dollar, a national retailer, occupies the building on a corporate, double-net lease at a rent well below current market rents for the Central Avenue Corridor. Current rent covers the cost of holding a large 1.4-acre corner between two signalized intersections on one of St. Petersburg's most sought-after commercial corridors. With the new SunRunner transit overlay layered on top, this location carries long-term upside and its highest and best use points toward future redevelopment. Family Dollar's initial term expires in 2029.
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Drug Store
Building Size
12,237 SF
Building Class
B
Year Built
1999
Price
$1,948,896
Price Per SF
$159.26
Cap Rate
6%
NOI
$116,934
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.41 AC
Zoning
CCS-1 - CCS-1
Parking
25 Spaces (2.29 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Family Dollar began in 1959 as a discount variety store chain and grew from a neighborhood retail concept into a nationwide business serving everyday shopping needs. The company focuses on affordable family essentials and carries food and beverages, paper products, health and beauty supplies, pet food, home products, apparel and accessories, seasonal goods, and electronics. Family Dollar supports convenient value shopping through national brands, private-label items, and digital savings tools across the United States.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Moderately walkable
60/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 21-31-16-24290-001-0010 | Improvements Assessment | $956,803 |
| Land Assessment | $1,438,197 | Total Assessment | $2,395,000 |
Property Taxes
Parcel Number
21-31-16-24290-001-0010
Land Assessment
$1,438,197
Improvements Assessment
$956,803
Total Assessment
$2,395,000
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