HIgh End Full Service Restaurant & Event Space
655 2nd Ave S
Saint Petersburg, FL 33701
Highlights
- Prime Downtown Location – Strategically positioned in St. Petersburg’s vibrant urban core.
- Top-Ranked Tenant – Leased to Rococo Steakhouse, the area's #1 rated steakhouse per TripAdvisor & OpenTable.
- World-Class Event Space – Second-level private event venue, ideal for upscale gatherings.
- Outstanding Parking – A rarity in downtown St. Petersburg, enhancing customer convenience.
- Wine Room – A refined addition, enhancing the property’s high-end appeal.
- Low risk and amazing value add opportunity with new development in all directions.
Description
Premier Investment Opportunity: Rococo Steakhouse – Iconic Downtown St. Petersburg Destination
Seize the opportunity to own a premier commercial property in the heart of downtown St. Petersburg, fully leased to Rococo Steakhouse, a top-rated, full-service 4 plus star destination restaurant renowned for its exceptional dining experience. Situated on a 34,000 SF site, this 15,751 SF, two-story (plus attic) masterpiece has been tastefully restored and meticulously maintained, offering investors a turnkey income-generating asset with significant future upside.
Lease & Investment Potential:
Stable Long-Term Tenant – Tenant has exercised its third of four 5-year options, ensuring ongoing stability, and providing c.$400,000 NOI.
Upcoming Michelin Guide Recognition (2025) – St. Pete will be included in the Michelin Guide for the first time, increasing the potential value of the restaurant.
Future Value & Redevelopment Potential – Zoned DC-1, the site allows for an FAR greater than 7.0 and a max height of 375 feet through streamlined zoning process, offering high-density redevelopment possibilities in one of Florida’s most dynamic urban centers.
Rent Growth Potential – Opportunity for increased rental income upon lease expiration.
Rare chance to acquire a fully leased, high-profile asset in St. Petersburg’s thriving downtown market, with immediate passive income and substantial future upside. Perfect for investors seeking stable returns, long-term appreciation, and possible prime redevelopment potential in a rapidly growing metropolitan area.
Located on the NEC of 2nd Ave South and 7th Street.
Documents
Lease Brochure (L)Offering Memorandum (L)
