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5209 Haines Rd 2,784 SF 100% Leased Retail Building Saint Petersburg, FL 33714 $600,000 ($215.52/SF)
Investment Highlights
- Redevelopment Opportunity with In-Place Income
- Long-term month-to-month tenants in place for an easy redevelopment transition period
- Benefit from alignment with the City’s vision for neighborhood reinvestment, infill housing, and long-term appreciation
Executive Summary
Located in the Lealman Code District, an area targeted by the City of St. Petersburg
for revitalization and reinvestment, this property presents a compelling opportunity for a
developer, builder, or owner-operator seeking infill upside with existing cash flow.
The site includes a primary structure historically used as a duplex, with one side
impacted by a prior fire event, creating flexibility for restoration, reconfiguration, or
redevelopment, subject to City review and approvals. In addition, the property features
two detached, income-producing cottages that are currently leased and generating
reliable revenue.
The cottages produce $1,732 per month ($20,784 annually) in gross rental income.
Tenants pay for their own electricity and cable, while trash service is included in the
property taxes, resulting in a low-expense, low-maintenance carry profile. This in-
place income allows a buyer to offset holding costs while evaluating redevelopment
plans or pursuing entitlement strategies.
Situated within an active enhancement corridor, the property benefits from alignment
with the City’s vision for neighborhood reinvestment, infill housing, and long-term
appreciation. The combination of multiple structures, income during hold, and
redevelopment optionality makes this asset well-suited for a variety of strategies,
including infill redevelopment, owner-occupied renovation with supplemental income, or
land banking in a growing St. Petersburg submarket.
Buyer to verify zoning, unit count, and redevelopment potential.
for revitalization and reinvestment, this property presents a compelling opportunity for a
developer, builder, or owner-operator seeking infill upside with existing cash flow.
The site includes a primary structure historically used as a duplex, with one side
impacted by a prior fire event, creating flexibility for restoration, reconfiguration, or
redevelopment, subject to City review and approvals. In addition, the property features
two detached, income-producing cottages that are currently leased and generating
reliable revenue.
The cottages produce $1,732 per month ($20,784 annually) in gross rental income.
Tenants pay for their own electricity and cable, while trash service is included in the
property taxes, resulting in a low-expense, low-maintenance carry profile. This in-
place income allows a buyer to offset holding costs while evaluating redevelopment
plans or pursuing entitlement strategies.
Situated within an active enhancement corridor, the property benefits from alignment
with the City’s vision for neighborhood reinvestment, infill housing, and long-term
appreciation. The combination of multiple structures, income during hold, and
redevelopment optionality makes this asset well-suited for a variety of strategies,
including infill redevelopment, owner-occupied renovation with supplemental income, or
land banking in a growing St. Petersburg submarket.
Buyer to verify zoning, unit count, and redevelopment potential.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,784 SF
Building Class
C
Year Built
1952
Price
$600,000
Price Per SF
$215.52
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
0.18 AC
Opportunity Zone
Yes
Zoning
C3
Parking
5 Spaces (1.8 Spaces per 1,000 SF Leased)
Frontage
Nearby Major Retailers
Property Taxes
| Parcel Number | 02-31-16-26604-000-0290 | Improvements Assessment | $294,570 |
| Land Assessment | $95,430 | Total Assessment | $390,000 |
Property Taxes
Parcel Number
02-31-16-26604-000-0290
Land Assessment
$95,430
Improvements Assessment
$294,570
Total Assessment
$390,000
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5209 Haines Rd
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