1101 1st Ave N Retail - Restaurant

1101 1st Ave N Saint Petersburg, FL 33705

1101 1st Ave N, Saint Petersburg, FL, 33705
1101 1st Ave N, Saint Petersburg, FL, 33705
FOR SALE
Property Type:
Restaurant
FOR SALE
Amount:
Please Call Broker for Price

Last Verified:
Sep 13, 2018

Highlights

  • -Perfect for a restaurant and has full kitchen and bar
  • -Located in a newly designated Opportunity Zone
  • -SRX Liquor License could be acquired
  • -Can be divided to accommodate more than one tenant
  • -Potential for rooftop dining and service
  • -16 parking spaces
  • -1 block from Central in the Edge District
  • -High visibility
  • -High walkability score

Description

The 4446 sf building sits on a 9750 sf lot with 16 parking spaces. This property is perfect for a restaurant, because it already has a full kitchen and bar, and it qualifies for an SRX Liquor license as the building could easily seat 150 guests and is more than 2500 sf. It has excellent flexibility, with potential for a rooftop deck for service and potential for an outside bar along 11th St N. There is potential for multiple tenants if the building is divided into 2 or more spaces. It's located 1 block from Central Ave in the Edge District in the heart of significant economic growth. IMPORTANTLY, this property is in the newly designated OPPORTUNITY ZONE (designated by the Governor) and is eligible for capital gains deferment and possible elimination under the new JOBS and TAX act, signed by the President in December 2017. Below are two links (to copy and paste) that direct you to the Florida Department of Economic Opportunity as well as the map showing the property in the zone.
Florida Department of Economic Development Link: http://www.floridajobs.org/business-growth-and-partnerships/for-businesses-and-entrepreneurs/business-resource/opportunity-zones
Opportunity Zone Link: https://esrimedia.maps.arcgis.com/apps/View/index.html?appid=77f3cad12b6c4bffb816332544f04542

This 9,750 sf site lies on the westerly side of 11th St N between 1st Ave N and Arlington Ave N. It is also located in the newly designated OPPORTUNITY ZONE.


Year Built: 1954
Building Size: 4446.0sq ft
Lot Size: 0.22 acres

Map of 1101 1st Ave N, Saint Petersburg, FL, 33705

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.