Ford's Garage Anchored Strip Center
Located In the Heart of Downtown St. Petersburg, FL
Marketing description
CBRE is pleased to present a premier two-tenant retail investment located at 200 1st Avenue South in the heart of downtown St. Petersburg, occupied by Ford's Garage, a high-performing, experiential dining concept known for its strong
regional draw and consistent consumer traffic, and Aji Ceviche, a rising culinary concept dotted throughout southwest and central Florida.
The property's most distinctive feature is its direct connection to the McNulty Public Parking Garage, a 24-hour, 525-space facility that provides unmatched visibility, accessibility, and exposure for both tenants. What sets this asset apart
from virtually every other urban retail investment in the market is that the landlord participates in garage revenue, generating a meaningful income stream entirely outside of base rents. This type of ancillary income is exceptionally rare in a retail investment structure and materially strengthens the overall return profile, providing a layer of cash flow that is completely independent of tenant performance or lease obligations.
The property sits at the center of one of Downtown St. Pete's most active pedestrian corridors, surrounded by a dense mix of hotels, luxury residential towers, museums, and entertainment venues that generate sustained foot traffic throughout the day and into the evening.
Investment highlights
- 100% Occupied by Two (2) Dining Concepts
- Absolute NNN Leases
- Annual Increases Provide Hedge Against Inflation
- Additional Income Above Base Rent from Public Parking Garage
- High Barrier to Entry
- 50 Spaces in attached McNulty Parking Garage controlled by owner
- Generational Opportunity
- Newly Signed Leases
- Hands Off Condo Management
- Located at a Pedestrian-centric Signalized Corner
- High Foot Traffic Environment
- Strong Daytime Population
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