966 6TH AVE S St Petersburg, FL, 33705
$ 1,150,000Bedrooms Baths--
for $1,150,000. The lot size is 1.10 Acre(s).
This amazing property is eligible for the Commercial Revitalization Program as well as the Affordable Housing Redevelopment Loan and Affordable Multifamily Incentive Program. Situated in an area that has experienced significant commercial and residential redevelopment. Access to the I-175/I-275 Interstate system plus one of the stateÃ¢â‚¬â„¢s top hospitals only a few hundred feet away, with Tropicana Field and Central Avenue in the downtown core within half a mile. The City of St. Petersburg has issued a Zoning Verification Letter for the property, identifying the applicable zoning as CRT-1 (Corridor Residential) with a maximum density of 24 units per acre and now eligible for the height encroachment bonus of an additional 12 feet. Preliminary site and development research indicate that a building with a ground floor parking area with 2 dedicated spaces per unit, and 3 additional floors, including 4 penthouses for residential units likely presents the greatest development potential with an average of 1, 200 square feet per unit, and using an average construction cost of $125 per sq. feet offers a profit margin of 44 percent or Medical facility approved 1 parking space per 300 sf gfa. Located in the downtown St. Petersburg, an area known for its vibrant downtown core and highest walkability scores in the nation.
Water Source Public Water
Community Amenities Park/Picnic Area Playground
Land Improvements Sidewalks
Lot Description Buildable Lot Corner Inside City Limits Level/Flat Street Lights
Road Frontage City Street One Way Road Paved
Miscellaneous* Excluded Features
Location Business District Near Public Transportation Urban
View Stream/Creek View
List By Premier Sothebys Intl Realty
- Monthly Principal & Interest
- Monthly Property Taxes
- Monthly Home Insurance
Default based on a 30-year fixed rate of 4.125% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Lots and land listings in St Petersburg, FL
Average List Price $435,183
Percent of Sale Price 62 %
About St Petersburg, FL
1 % Since 2002
$ 47,638 Median Income
42.91 Median Age
21 % Households with Children
Campbell Park Elementary-PN Elementary School
Bay Point Middle-PN Middle School
Gibbs High-PN High School