2742 1ST AVENUE S

Under contract-accepting backup offers. Build your next project in the heart of St. Petersburg’s most dynamic and rapidly evolving district - the Grand Central / Palmetto Park corridor. The 5,500 square foot vacant lot is zoned CRT1, which allows for 3 dwelling units. By applying the Missing Middle density bonus, the development potential can be increased to 4 dwelling units. This property is surrounded by luxury homes, sleek townhomes, and mixed-use developments that are redefining the neighborhood’s urban edge. It provides outstanding flexibility for residential, commercial, or live-work development. Enjoy outstanding walkability with Central Avenue’s lively restaurants, breweries, coffee shops, and boutiques just steps away. The nearby SunRunner Rapid Transit stop connects directly to Downtown and St. Pete Beach, enhancing convenience for future residents or tenants. All utilities are readily available, streamlining the path from concept to completion. With new homes in the area commanding $1.5M and beyond, this property offers powerful development potential, strong market fundamentals, and a rare opportunity to secure a premier site in one of St. Petersburg’s most desirable urban neighborhoods.