3501 1ST Avenue S

Description

Low-risk investment should be in your portfolio with a 3% annual increase. Rare building opportunity in the heart of St. Petersburg. This Triple Net (NNN) leased building is one of the most reliable forms of potential income-producing real estate ownership, ideal for 1031 Exchange or hands-off investors. The 2,628 square-foot standalone building has a stable, thriving veterinary hospital, tenant responsible for paying rent, half annual taxes, insurance, all operating expenses including utilities and lawn maintenance associated with the property. The property is on the corner of 1st Avenue S and 35th Street one block from U. S. 19, 34th Street, offering visibility and traffic volume with several nearby businesses driving consistent foot traffic. Convenient access and parking with 11 spaces, including two handicapped spots, for patrons and separate additional parking for the doctor and staff. Offers three driveways for easy in/out access and front door circular drop off/pickup area. Upgrades include a new roof and repair and painted soffit/fascia 2024, and $12,000 elective tree removal/pruning shows proactive property upkeep. Lease term remaining, five years. Renewal option, five years. Rental increases 3% annually, increasing returns make this a potential cash-flow-positive property.