Your email has been sent.
Hillside Center | 100% Occupied Retail Plaza 1506 54th Ave N 6,960 SF 100% Leased Retail Building Saint Petersburg, FL 33703 $3,489,800 CAD ($501.41 CAD/SF) 7.22% Cap Rate
INVESTMENT HIGHLIGHTS
- Acquire Hillside Center, a fully renovated and 100% occupied retail/office strip center with strong upside potential at a 7.2% cap rate.
- Turnkey investment opportunity with a new roof, modernized HVAC systems, NNN lease potential, and exceptional tenant mix.
- Coveted CCS-1 zoning allows a wide range of high-value commercial uses, including a restaurant conversion with a drive-thru addition.
- Exceptional St. Petersburg location between Interstate 275 and US Highway 92 with exposure to over 27,000 vehicles per day.
EXECUTIVE SUMMARY
Hillside Center at 1506 54th Avenue N in St. Petersburg is a fully stabilized, fully renovated strip center offered at a 7.2% cap rate with strong upside potential. This concrete block and slab building with steel roof decking sustained no damage from the 2024 storms and is outside any FEMA flood zone. 100% occupied by established, upscale tenants, the property sits just off an Interstate 275 exit with an average daily traffic count of 27,000 vehicles (VPD). Desirable CCS-1 zoning allows for drive-thru, restaurant, bar, pet care, pharmacy, daycare, fitness, office, microbrewery, and retail uses by right, offering exceptional long-term flexibility.
Having recently undergone a complete interior and exterior renovation, the building leaves no deferred maintenance. Upgrades include a new roof (2023), new HVAC systems, exterior paint and lighting, resealed and striped parking lot, new fencing, landscaping, and a fully rewired pylon sign with new panels. Each of the five units was redone entirely with updated lighting, ADA-compliant restrooms, and restored terrazzo flooring, and every tenant enjoys a private outdoor area.
With popular lifestyle operators, including an aesthetician, a hair care studio, and a florist, alongside a multi-unit, statewide healthcare provider as a co-anchor, the center’s tenant mix is highly desirable. Tenants maintain an excellent reputation with loyal customer bases and consistent 5-star Google and Yelp ratings supported by hundreds of reviews. Leases include annual rent escalations, and half of the building is already under NNN leases, creating immediate net operating income (NOI) growth potential as remaining leases convert.
According to The Wall Street Journal (2023), strip centers are currently the strongest asset class in commercial real estate, with national vacancies under 5%. Hillside Center offers investors a turnkey, fully leased, pride-of-ownership property with steady cash flow, built-in rent growth, and significant long-term redevelopment potential under its rare CCS-1 zoning.
Financials Available on request.
REDUCED $225,000 !! 7.22% CAP RATE !! TURN KEY AND WORRY FREE !!
FINANCIAL SUMMARY (ACTUAL - 2026) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$279,724
|
$40.19
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$279,724
|
$40.19
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$26,595
|
$3.82
|
| Net Operating Income |
$253,129
|
$36.37
|
FINANCIAL SUMMARY (ACTUAL - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $279,724 |
| Annual Per SF | $40.19 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $279,724 |
| Annual Per SF | $40.19 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $26,595 |
| Annual Per SF | $3.82 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $253,129 |
| Annual Per SF | $36.37 |
PROPERTY FACTS
AMENITIES
- 24 Hour Access
- Corner Lot
- Fenced Lot
- Freeway Visibility
- Pylon Sign
- Security System
- Signage
- Tenant Controlled HVAC
- Drive Thru
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Arms of Persephone
- Retailer
- -
- -
- -
- -
-
- Services
- -
- -
- -
- -
Bayview Barber Co is an all-inclusive barber shop. Here for you, no matter who you are. At Bayview Barber Co, we focus on modern clipper haircuts using classic techniques in a space where everyone feels comfortable. Their barbers will provide you with an experience that leaves you feeling good about yourself and your decision to book with them. Bayview Barber Co strives to be more than just a place to get a great haircut — they want to create a space for like-minded people, who care about each other and the future of their community.
- Citrus Blossom
- Retailer
- -
- -
- -
- -
-
- Health Care and Social Assistance
- -
- -
- Modified Gross
- -
Heme On Call is a privately held telemedicine hematology practice founded in 2020. The company provides virtual consultations and infusion services for patients with blood disorders, including anemia, clotting conditions, and chronic leukemias. It operates infusion centers across Florida and partners with hospitals to deliver remote hematology and oncology expertise. The organization emphasizes accessibility through its nationwide telehealth model, offering services such as iron infusions and pre-operative hematology clearance. Heme On Call has expanded its footprint with multiple Florida locations and maintains a focus on specialized care for women’s health hematology.
- Roaming Petal
- Retailer
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Arms of Persephone | Retailer | - | - | - | - | |
|
|
Services | - | - | - | - | |
| Citrus Blossom | Retailer | - | - | - | - | |
|
|
Health Care and Social Assistance | - | - | Modified Gross | - | |
| Roaming Petal | Retailer | - | - | - | - |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
The available endcap unit at the Hillside Center features 2,250 square feet of fully updated interior space and 700 square feet of dedicated exterior space. This unit has been thoughtfully renovated to include central air conditioning with exposed ductwork, 11-foot ceilings with industrial-style exposed metal rafters, and professionally restored terrazzo flooring throughout. Additional upgrades include new lighting, updated baseboards, two separate HVAC systems, two fully remodeled ADA-compliant restrooms, and a private office. The building itself is constructed of concrete block, equipped with three-phase electrical service, and includes an overhead garage door for convenient rear loading. This space is ideal for a coffee shop, café, restaurant, office, or retail store, any business seeking high visibility at a competitive rate. Base rent is $6,000 per month.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 2,250 SF | Retail | End Cap | Now |
1st Floor
| Size |
| 2,250 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
1st Floor
| Size | 2,250 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
The available endcap unit at the Hillside Center features 2,250 square feet of fully updated interior space and 700 square feet of dedicated exterior space. This unit has been thoughtfully renovated to include central air conditioning with exposed ductwork, 11-foot ceilings with industrial-style exposed metal rafters, and professionally restored terrazzo flooring throughout. Additional upgrades include new lighting, updated baseboards, two separate HVAC systems, two fully remodeled ADA-compliant restrooms, and a private office. The building itself is constructed of concrete block, equipped with three-phase electrical service, and includes an overhead garage door for convenient rear loading. This space is ideal for a coffee shop, café, restaurant, office, or retail store, any business seeking high visibility at a competitive rate. Base rent is $6,000 per month.
DEMOGRAPHICS
Demographics
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 01-31-16-15009-001-0010 | Improvements Assessment | $395,836 CAD (2024) |
| Land Assessment | $344,466 CAD (2024) | Total Assessment | $740,302 CAD (2024) |
PROPERTY TAXES
Presented by
Hillside Center | 100% Occupied Retail Plaza | 1506 54th Ave N
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.