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Property Description
Prime Grand Central District Investment Opportunity - Multiple Storefront Suites + 2 Updated Apartments
Rarely does an opportunity come along in the Grand Central District with this much space, flexibility, and income potential. This exceptional mixed-use property offers multiple commercial storefront spaces, two spacious updated apartments, established tenancy, and significant potential for an investor or owner-user to maximize the property's income-producing capabilities.
The property features an approximately 2, 500-square-foot storefront area with a highly flexible layout and multiple bathrooms, offering the potential to configure the space into up to three separate storefront suites, subject to applicable zoning, permitting, building requirements, and City of St. Petersburg approval. (Buyer to independently verify all zoning, permitted uses, occupancy, configurations, and any required permits or approvals with the City.)
The possibilities for these spaces are extensive and could include boutique retail, salon or beauty concepts, wellness or fitness studios, professional offices, galleries, creative studios, specialty shops, cafés, or other neighborhood-oriented businesses, subject to applicable regulations and approvals.
In addition, the property includes two approximately 1, 000-square-foot storefront spaces currently occupied by longstanding Grand Central favorite Lolita's Wine Bar and Restaurant, providing established commercial tenancy and an active presence within the property.
Upstairs, two spacious approximately 1, 000-square-foot apartments have been completely updated and offer high ceilings, updated appliances, and comfortable, modern living spaces. These residential units provide an additional income stream in one of St. Petersburg's most desirable and walkable neighborhoods.
With its combination of large commercial spaces, established tenancy, residential income, and flexible storefront configurations, the property presents numerous possibilities for an investor looking to increase revenue and maximize the existing footprint. A future owner could explore a variety of tenant configurations and business concepts, potentially creating additional income streams while maintaining the property's existing commercial and residential components.
Located in the heart of the Grand Central District, the property is surrounded by restaurants, bars, shops, entertainment, and other popular neighborhood destinations, making it an exceptional location for businesses seeking visibility and proximity to the area's established customer base.
The upside is what makes this property particularly compelling. With substantial square footage, multiple existing income-producing spaces, two updated apartments, and additional commercial space that may offer future leasing flexibility, the possibilities are significant. Explore the potential, verify the possibilities with the City, and create a strategy that maximizes this exceptional Grand Central District asset.