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Under contract-accepting backup offers. One or more photo(s) has been virtually staged. Introducing 423 Corey Ave - an exceptional Historic Town Center Building situated in the bustling heart of St. Pete Beach, Florida. This property presents an outstanding opportunity for investors and business owners alike, offering remarkable versatility. Imagine having your business downstairs and your residence upstairs, all in one convenient location. Nestled between the Gulf of Mexico and Boca Ciega Bay, this building boasts prime storefront space within the Corey Avenue Shopping District. It comprises three commercial units and a charming 2-bedroom, 1-bathroom coastal cottage residence on the upper floor, totaling over 3, 400 square feet. This setup provides potential for rental income or a combined business and living space. The property includes 4 spaces, 4 bathrooms, a laundry room, storage, 4 separate meters, and a fenced courtyard with access to 3 spaces. Additionally, all commercial units feature two exit doors. The commercial units have previously housed boutiques, specialty shops, craft and jewelry stores, clothing boutiques, and unique gift shops. They can easily be repurposed for a variety of businesses, such as a nail salon, souvenir shop, or café/bakery. The surrounding Corey Avenue area is known for its diverse range of restaurants, offering options for casual dining and fine cuisine, many with outdoor 'pet-friendly' dining. Corey Avenue has been a vibrant hub in St. Pete Beach for over six decades, drawing visitors from around the world with its welcoming atmosphere and exciting events. The Corey Avenue Business Association hosts numerous events throughout the year, including parades, wine tastings, arts and crafts festivals, and a bustling Sunday Morning Market from October through May. Recent upgrades to the property include a new roof (2023), restored hardwood flooring (2023), HVAC and ducting (2023), paint, and minor repairs. The prime location and recent improvements make this property an excellent opportunity for business expansion or startup. There is also a carport in the back alley that can accommodate six or more vehicles, providing ample parking for customers. With its storefront offering high foot traffic and visibility in a well-preserved historic beach shopping center, this property is an ideal choice for any retail business seeking maximum exposure. It is currently vacant and ready for immediate use, with convenient access and parking for customers. The uniqueness of 423 Corey Avenue lies in its second-story residence, offering a blend of commercial and residential space. Falling within the Town-Center-1 Core District, this property supports medium to high-intensity land uses and fosters a pedestrian-friendly environment. Don't miss out on this extraordinary opportunity to secure a coveted residence space with attached business space in the heart of Corey Ave, St. Pete Beach! Schedule a viewing appointment today to explore the possibilities.
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Our Executive Mortgage Banker:
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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Loan Amount | $1,000,000 | $1,000,000 | $1,000,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.875% | 6.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.851% | 7.014% | 7.082% |
Monthly Tax Payment | $1,122 | $1,122 | $1,122 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $6,737 | $6,569 | $8,919 |
Total Monthly Payment | $7,984 | $7,816 | $10,166 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.