This property offers a unique investment opportunity in the heart of downtown St. Petersburg, Florida. Situated on 3rd Avenue North, the asset is currently configured as a Hotel/Motel with 21 licensed rental units, 20 guest units, and 1 unit for owner or employee. Total building area of approximately 6,891 square feet. The structure spans two stories and features a flat roof, concrete block and stucco exterior, and drywall interiors.
The property sits on a 4,161-square-foot lot with 40 feet of frontage and 100 feet of depth, providing excellent visibility and accessibility. It is located within a vibrant urban core surrounded by retail, dining, and cultural attractions, making it highly desirable for hospitality or redevelopment purposes.
With its central location, proximity to major thoroughfares, and strong tourism demand in St. Petersburg, this property presents significant upside potential for investors seeking to reposition or continue operating in the hospitality sector.
St. Petersburg, FL, 33701
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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