2755 EDWARDS AVE S St Petersburg, FL 33705
5,227 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Residential
Listing Status Active
Purchase Type For Sale
Subdivision Ling-A-Mor Sub
MLS Listing ID TB8524041
HOA Y/N No
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 62.5X83.8
Property Sub-Type Residential
Source Stellar MLS
Property Description
The City of St. Petersburg has issued a Buildable Lot Letter for each lot, and the demolition permit for the existing structures is in hand, allowing the next owner to move directly toward redevelopment. NT-1 zoning permits a single-family residence with either an attached or detached Accessory Dwelling Unit (ADU), providing valuable flexibility for design and future resale.
Current comparable sales indicate that appropriately designed and constructed new homes in this area could potentially achieve sales prices in the $800,000–$1,000,000 range per home. Based on current market data, land acquisition at approximately 14%–18% of projected finished value may provide an attractive basis for an experienced builder, subject to construction costs, financing, market conditions, and final design.
The ability to acquire two adjacent buildable lots and construct two homes simultaneously creates an opportunity to achieve economies of scale and potentially maximize the return on the overall project. Opportunities with this combination of location, buildability, and immediate development potential are increasingly difficult to find.
Located in the highly desirable Old Southeast and Innovation District, the property is close to downtown St. Petersburg, the waterfront, parks, restaurants, entertainment, and the vibrant redevelopment taking place throughout the surrounding area.
Important development information: The City considers Pinellas Avenue S an alley, resulting in a 5-foot rear setback from Pinellas Avenue S rather than the typical 25-foot rear setback. Buyers and their representatives should independently verify all zoning, setbacks, permitted uses, dimensions, development requirements, and other information with the City of St. Petersburg.
See MLS attachments for the City-issued Buildable Lot Letters and survey.
For a builder looking to create value in one of St. Petersburg's most desirable locations, this is an opportunity worth serious consideration.
Buyer and buyer's representatives should conduct their own due diligence regarding zoning, development potential, construction costs, market values, financing, and all other factors affecting the property's suitability and financial feasibility. PLEASE, DO NOT WALK THE PROPERTY!
Location
State FL
County Pinellas
Community Ling-A-Mor Sub
Area 33705 - St Pete
Zoning NT-2
Direction S
Exterior
Community Features Street Lights
Utilities Available Cable Available, Electricity Available, Phone Available, Public, Sewer Connected, Water Connected
View Y/N No
Water Access No
Exposure West
Building
Lot Description Buildable, Corner Lot, Level
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Schools
Elementary Schools Lakewood Elementary-Pn
Middle Schools John Hopkins Middle-Pn
High Schools Lakewood High-Pn
Others
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
NEARBY SCHOOLS & PROPERTIES
GET MORE INFORMATION