235-239 2nd Ave S

$ 10,900,000
235 2nd Ave S,

 

~21,804 SF | The Wilson Building | Saint Petersburg, FL 33710

Description

The Wilson Building presents a rare opportunity to acquire a mixed-use asset in the heart of Downtown St. Petersburg’s thriving urban core. Located at 235-239 2nd Avenue South, the two-story property encompasses approximately 21,804 square feet and was originally constructed in 1924. Significant renovations and capital improvements were completed in 2022, modernizing much of the building while preserving its historic character.

The property is occupied by a diversified mix of NNN tenants, including Black Leaf Cigar & Wine Bar, Growve/Viva 5 Corporation, and Jeff Scott Dentistry, providing stable in-place income. Additionally, one first-floor retail/office suite remains available for tenant buildout and occupancy, creating a compelling value-add opportunity for investors to increase revenue through lease-up or for owner-users seeking to establish a presence in one of Florida’s most dynamic downtown markets.

Strategically positioned just steps from Beach Drive, the St. Petersburg Pier, waterfront parks, museums, restaurants, hotels, and the Bayfront entertainment district, the Wilson Building benefits from exceptional visibility, pedestrian traffic, and continued investment throughout Downtown St. Petersburg. The combination of stabilized tenancy, leasing upside, and remaining buildout potential offers investors multiple avenues for value creation.

As Downtown St. Petersburg continues to experience substantial residential, hospitality, and mixed-use development, opportunities to acquire well-located assets of this scale have become increasingly limited. The Wilson Building offers the chance to secure a strategic foothold in one of the Southeast’s most desirable urban markets while capitalizing on the leasing and buildout opportunities that remain within the property.

Highlights

  • ±21,804 SF mixed-use building in the heart of Downtown St. Petersburg
  • Diversified, NNN-leased rent roll of office, medical, and retail tenants
  • ±88.7% leased with one vacant ±2,453 SF restaurant suite offering lease-up upside
  • In-place annual base rent of ±$612,556 with contractual annual rent escalations
  • Steps from Beach Drive, the St. Petersburg Pier, and the downtown Bayfront entertainment district
  • Two-story masonry building with adjacent street parking and adjacent McNulty Garage.

Address: 235 2nd Ave S
State/County: ,
Zip: 33710
Country: United States

Property Id: 26965
Price: $ 10,900,000
Property Size: 22,000 ft2
Building Size: 1,178 SF
Building Class: C
No. Stories: 2
Parking: 7 Spaces
Parking Ratio: 0.32
Sale Type: Owner User
Tenancy: Multiple
Typical Floor Size: 11,000 SF
Year Built/Renovated: 1924 / 2019
Zoning: Commercial

Transport
Supermarkets
Schools
Restaurants
Pharmacies
Hospitals

Michael Heretick

Commercial Advisor

Montana Massa

Commercial Advisor

Contact Me






    Compare Listings

    Michael Heretick