5005 Gulf Boulevard, St. Pete Beach, FL 33706 For Sale

Yellowtail Commercial Realty presents 5005 Gulf Boulevard, a rare bay-front commercial investment opportunity situated on Boca Ciega Bay along Gulf Boulevard (State Road 699) in St. Pete Beach, Florida. The property comprises a 1,596 SF single-story commercial building on 0.23 acres with direct bay-side frontage; an increasingly scarce asset type along one of Florida's most trafficked and sought-after barrier island corridors.

Originally constructed in 1971 and benefiting from multiple renovations, the property is in excellent physical condition. A new roof was installed in 2018, and a brand-new HVAC system was installed in May 2026 carrying a 5-year parts warranty and a 2-year labor warranty, significantly reducing near-term capital risk for an incoming buyer. An independent appraisal completed in 2024 valued the property at $1,000,000.

The property is home to Dollar Car Rental, a nationally recognized vehicle rental brand that has occupied this location continuously since 1991; over 30 years of uninterrupted tenancy on one of the most visible commercial corridors in Pinellas County. This remarkable tenure speaks directly to the site's strategic value. The current lease is a Modified Gross structure (8th Amendment), with the tenant currently in the 3rd year of its final option term, which commenced March 1, 2024.

The property's Modified Gross lease structure creates a compelling value-add opportunity for an incoming investor. Upon renewal or with a new tenant, a restructure to Triple Net (NNN) at market rents would shift property insurance, flood insurance, all property taxes, and all capital improvement responsibilities to the tenant; materially increasing net operating income. Alternatively, the property offers strong owner-user potential upon lease expiration.