Mirror Lake Downtown St. Petersburg_Property for Sale

442 3rd Avenue North, St. Petersburg, FL, 33701, US

Mirror Lake Downtown St. Petersburg

Asset description

JLL is pleased to offer the sale of the Mirror Lake Downtown St. Petersburg high-rise site, a premier land site adjacent to Mirror Lake park located in the heart of Downtown St. Petersburg. The ±0.92-acre site not only provides an exclusive location in Downtown, but is best positioned for a premier multifamily development with 285 entitled units and building permits approved.

With a boasting walk score of 96, this premier Downtown site is located just 0.3 miles from St. Petersburg‘s Central Avenue, a major thoroughfare with abundant entertainment, restaurants, and nightlife that directly connects Downtown to St. Petersburg Beach (ranked #1 in the U.S. by TripAdvisor). The site is also within a 12-minute walking distance to major attractions such as the St. Pete Pier, the area‘s newest and nationally recognized waterfront attraction, and Tropicana Field, which recently announced it will anchor within the 86-acre Historic Gas Plant masterplan redevelopment as the home for the MLB‘s Tampa Bay Rays.

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Attributes

Land area gross

0.92 acres

Media

Investment highlights

Opportunity to develop within the urban core of Downtown St. Petersburg

Limited Inventory and High Demand

Only 577 units were delivered in Downtown St. Petersburg in 2023 that averaged 25 – 30 leases signed/month and are currently stabilized above 90%. With only 383 units scheduled to be delivered in 2024, this supply-constrained market has outsized demand with a growing Downtown population base.

Strong Rental Market

With the growing popularity of Downtown living, the rental market in St. Petersburg remains robust.

Favorable Walk Score of 96

Extremely walkable to an abundant amount of high-end restaurants and retail as well as the 11.6-acre waterfront Vinoy Park and the $92M St. Pete Pier–recently named the #2 new attraction in the country by USA Today.

Major Employers within 2 Miles

Including St. Anthony’s Hospital, Bayfront Health Hospital, Johns Hopkins All Children’s Hospital, Tropicana Field, and the University of South Florida-St. Petersburg Campus.