966 6TH Avenue S, St Petersburg, FL 33705 | MLS U8022753 | Listing Information | BHHS Florida Realty

966 6TH Avenue S,  St Petersburg FL, 33705

Status: Active
MLS#: U8022753
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Last Updated: 11/19/2018 12:21 PM
Description for 966 6TH Avenue S St Petersburg, FL 33705
"See photos of site proposals." Situated in an area that has experienced significant redevelopment in recent years, and continues to be redeveloped for upscale residential living. Access to the I-175/I-275 Interstate system plus one of the stateâs 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 25 units per acre and 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 cultivating an art culture with shopping, entertainment, a robust festival scene, and the Beach Drive waterfront that has made it one of the most sought-after destinations in Florida.
Price
$1,150,000
Brookwood Terrace
Pinellas
U8022753
Active
Description
"See photos of site proposals." Situated in an area that has experienced significant redevelopment in recent years, and continues to be redeveloped for upscale residential living. Access to the I-175/I-275 Interstate system plus one of the stateâs 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 25 units per acre and 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 cultivating an art culture with shopping, entertainment, a robust festival scene, and the Beach Drive waterfront that has made it one of the most sought-after destinations in Florida.
Listing Information
Property Type: Land
1.1 Acres
Brookwood Terrace
Neighborhood
School Information
CAMPBELL PARK ELEMENTARY-PN BAY POINT MIDDLE-PN GIBBS HIGH-PN
Room Information
Exterior / Lot Features
Creek/Stream
380X202, One + to Two Acres
Corner, In City, Public Transport, Urban, One Way Street, Paved Road, City Road
Community Features
Park Play Area
Driving Directions
Head south on 9th St. S, just past the Staybridge Suites and turn right onto small driveway next to const. site Park next to this vacant land (left side of drive-space) to allow const. trucks to pass. Drive Space is directly across from hospital signage.
Financial Considerations
24-31-16-12258-000-0021
$3,209
Market Trends and Price History
Listing Price History

St Petersburg Real Estate

St Petersburg is located in Florida. St Petersburg, Florida 33705 has a population of 257,083.

The median household income in St Petersburg, Florida 33705 is $45,483. The median household income for the surrounding county is $45,574 compared to the national median of $53,482. The median age of people living in St Petersburg 33705 is 42.1 years.

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Courtesy: PREMIER SOTHEBYS INTL REALTY


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This content last refreshed on 11/19/2018 12:21 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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