755 4TH Avenue N, St Petersburg, FL 33701 | MLS U8052161 | Listing Information | BHHS Florida Realty

755 4TH Avenue N,  St Petersburg FL, 33701

Status: NEW LISTING
MLS#: U8052161
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Last Updated: 7/16/2019 11:49 PM
Description for 755 4TH Avenue N St Petersburg, FL 33701
This parcel is ready now for a townhome development - all designs, submittals, plat plan, and ready with the City of St. Pete for permit pickup for a townhome development of 12 units zoned DC-3 in a non-flood area X. The HOA and sales contract are in place with projection of sales between $520,000- $575,000 per unit. Property also zoned for condos starting at a 3.0 F.A.R. with 1.0 bonus for enclosed garages, with an additional 3.0 F.A.R. using available city guidelines. The easiest to obtain 4.5 F.A.R. in total = 67,000 sqft building, with lot size approximately 14,000 sqft allows for 67,000 sqft minus 20% common area/green space gives an approximate 53,000 sqft building. The height allowed exceeds 100 feet if necessary. Final height allowance to be determined by the City of St. Pete, an 80 ft height with a 15 ft parking garage on ground level allows parking for 38 vehicles on one floor and the use of car lifts for 30 spaces, the total units with 2 parking spaces is 34 units. Taking a scenario of 34 units to 36 units at an average sqft of 1,170 sq. feet for a two bedroom, two bath, two parking spaces total building size of 1,170 x 34 = 40,000 sqft plus 20% common area and green space = 48,000 sqft building. Compare the market @ $300 a sqft with 2 parking spaces for 1,170 sq. feet = average unit sale is between $360,000 and $400,000 - project sale price @ $375,000 which is $12,750,000 with land cost being approximately 12.5% of the sales price.
Price
$1,740,000
McDaniel & Smallwoods Sub
Pinellas
U8052161
NEW LISTING
Description
This parcel is ready now for a townhome development - all designs, submittals, plat plan, and ready with the City of St. Pete for permit pickup for a townhome development of 12 units zoned DC-3 in a non-flood area X. The HOA and sales contract are in place with projection of sales between $520,000- $575,000 per unit. Property also zoned for condos starting at a 3.0 F.A.R. with 1.0 bonus for enclosed garages, with an additional 3.0 F.A.R. using available city guidelines. The easiest to obtain 4.5 F.A.R. in total = 67,000 sqft building, with lot size approximately 14,000 sqft allows for 67,000 sqft minus 20% common area/green space gives an approximate 53,000 sqft building. The height allowed exceeds 100 feet if necessary. Final height allowance to be determined by the City of St. Pete, an 80 ft height with a 15 ft parking garage on ground level allows parking for 38 vehicles on one floor and the use of car lifts for 30 spaces, the total units with 2 parking spaces is 34 units. Taking a scenario of 34 units to 36 units at an average sqft of 1,170 sq. feet for a two bedroom, two bath, two parking spaces total building size of 1,170 x 34 = 40,000 sqft plus 20% common area and green space = 48,000 sqft building. Compare the market @ $300 a sqft with 2 parking spaces for 1,170 sq. feet = average unit sale is between $360,000 and $400,000 - project sale price @ $375,000 which is $12,750,000 with land cost being approximately 12.5% of the sales price.
Listing Information
Property Type: Land
0.23 Acres
McDaniel & Smallwoods Sub
Electric service available, Underground
Neighborhood
School Information
NORTH SHORE ELEMENTARY-PN JOHN HOPKINS MIDDLE-PN ST. PETERSBURG HIGH-PN
Room Information
Exterior / Lot Features
214X94, 1/4 Acre to 21779 Sq. Ft.
DC-3
In City, Public Transport, One Way Street, City Road, Clear lot
Driving Directions
8th Street North to 4th Avenue North, go one block and development site located on North side of 4th Ave
Financial Considerations
19-31-17-53622-000-0090
$4,579
Market Trends and Price History
Listing Price History

St Petersburg Real Estate

St Petersburg is located in Florida. St Petersburg, Florida 33701 has a population of 259,337.

The median household income in St Petersburg, Florida 33701 is $46,171. The median household income for the surrounding county is $44,095 compared to the national median of $49,877. The median age of people living in St Petersburg 33701 is 48 years.

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Courtesy: PREMIER SOTHEBYS INTL REALTY


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This content last refreshed on 7/16/2019 11:49 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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