VENETIAN VILLAS

Highlights

• Off-Market Land Play
• 4 Lots
• 1.31 Acres
• Venetian Address
• Shore Acres Neighborhood
• St Petersburg Market
• Tampa Bay Metro
• Florida Opportunity
• Potential for 7 Lots
• Potential Townhome Play

Description

Extremely Rare Find
Over an Acre of Residential Land
VENETIAN VILLAS

Our Offering is for 4 residential lots totaling 1.31 acres in the famed city of St Petersburg, Florida. The lots are located in the popular northeast neighborhood known as Shore Acres.

This appears to be a great opportunity for a home builder or residential developer to potentially re-parcel the site into 6 or 7 lots with 60 FT MOL frontage widths. The current zoning is NS-1 / Neighborhood Suburban Single Family.

There does exist a slight chance of re-zoning to NSM-1 / NEIGHBORHOOD SUBURBAN MULTI-FAMILY. If this were the case a developer could in theory build townhomes with 25 Ft frontages, resulting in 16 townhomes. This pathway has not been proven, and it would be up to a seasoned developer to get such a task done.

Currently, each lot does have an existing home, two have pools. All the homes were damaged by the hurricanes.

Here are some details:
4647 Venetian - 91 FT frontage / 145 Ft depth / .29 acres.
4627 Venetian - 100 FT frontage / 157 FT depth / .33 acres
4619 Venetian - 105 FT frontage / 165 FT depth / .34 acres
4601 Venetian - 105 FT frontage / 162 FT depth / .35 acres

Total: 401 ft of Frontage / 1.31 acres

Speculation I: It appears lots have to have a minimum of 60 FT of frontage if that is the case the site could be turned into 7 lots. Development is based on land cost per unit, with that being said, it must be determined how much a home builder would be willing to pay per lot. This number has yet to be determined, currently Sold Comps are being researched.

Speculation II: There is a possibility that the home builder would keep these large lots as is, and build multi-floor raised million-dollar homes.

Speculation III: Townhome Play - this is pure speculation but it is worth bringing up. The current zoning does not allow this, but such appropriate zoning does exist in Shore Acres. Overlook and Cape Hatteras have a Zoning known as NSM-1 / NEIGHBORHOOD SUBURBAN MULTI-FAMILY. Townhome Developers are the most active sector in today's economy.

LOCATION DESCRIPTION: The location is simply superior, the addresses are all on Venetian Blvd at 4647, 4627, 4619, and 4601.

Venetian Blvd is a prominent and significant corridor in the Shore Acres community. This blvd connects with other thoroughfares both to the north and south. Thus making it very convenient to 4th Street North.

Downtown St Pete is only 11 minutes away, the interstate is 12 minutes, and Tampa is 13 minutes away via 4th Street.

NS-1 Zoning - https://library.municode.com/fl/st._petersburg/codes/code_of_ordinances?nodeId=PTIISTPECO_CH16LADERE_S16.20.020NESUSIMIDINS

NSM - Zoning - https://library.municode.com/fl/st._petersburg/codes/code_of_ordinances?nodeId=PTIISTPECO_CH16LADERE_S16.20.030NESUMUDINS

LOCATION DESCRIPTION: The location is simply superior, the addresses are all on Venetian Blvd at 4647, 4627, 4619, and 4601.

Venetian Blvd is a prominent and significant corridor in the Shore Acres community. This blvd connects with other thoroughfares both to the north and south. Thus making it very convenient to 4th Street North.

Downtown St Pete is only 11 minutes away, the interstate is 12 minutes, and Tampa is 13 minutes away via 4th Street.