Fourth Street Shopping Center
1700 4th St N | Saint Petersburg, FL 33704
100 Percent Occupied 5,200-Square-Foot Shopping Center
National Brand Tenants on Long-Term Net Leases
Average Weighted Lease Term Remaining is 8.5 Years
Just One Mile North of Downtown Saint Petersburg - $500 Million in New Construction
Prime Location on Fourth Street North – Dense Retail Corridor
High Income Neighborhood – $91,000 Average Household Income; $323,000 Average Home Value
Marcus & Millichap is pleased to exclusively offer for sale Fourth Street Shopping Center, a fully stabilized 5,200-square-foot shopping center located in Saint Petersburg, FL. The subject property is 100 percent leased by four tenants: Jersey Mike’s Subs, T-Mobile, uBreakiFix, and Restore Hyper Wellness & Cryotherapy. All four tenants are on long-term net leases with Jersey Mike’s Subs and T-Mobile expiring in nine years, uBreakiFix expiring in six years and Restore Hyper Wellness & Cryotherapy expiring in 10 years. The lease structure provides an investor with stable cash flow backed by national brands over the next decade.
Fourth Street Shopping Center is the perfect opportunity to acquire highly visible real estate on Fourth Street North, Saint Petersburg’s premier retail corridor. The subject property sees over 27,000 vehicles per day on Forth Street North and is surrounded by national retailers such as Starbucks, Chipotle, Trader Joe’s, The Fresh Market, Sherwin Williams, Pizza Hut, Papa John’s Pizza, Carrabba’s, Panera Bread, Outback Steakhouse, Burger Monger, Tropical Smoothie Café, Dunkin’, Chase Bank, Tijuana Flats, and CVS.
Fourth Street Shopping Center is positioned in the highly desirable Historic Old Northeast neighborhood of Saint Petersburg, which consists of the 33701 and 33704 zip codes. Historic Old Northeast is known as one of the most desirable neighborhoods in the city for year-round residents. The neighborhood is home to an affluent demographic with an average household income of approximately $91,000. The average home value in the neighborhood is approximately $323,000, although it is not uncommon to see listings in excess of $3,000,000.
First Vice President Investments
Senior Investment Advisor
Senior Investment Advisor
The subject property is approximately one mile north of Downtown Saint Petersburg, which is currently experiencing one of the biggest construction booms in the 130-year history of the city. There are 17 projects totaling over $500 million that were either just completed last year or are scheduled to be completed this year. The largest projects include two new museums, a 41-story condo tower, a 40-to-50-story mixed-use project, as well as several new apartment buildings and townhome projects. Just a four-minute drive from Downtown Saint Petersburg, the subject property is ideally positioned to benefit from the rapid growth of the immediate area, while providing an investor with a stable, long-term cash flow stream.