“Central Avenue St Pete property sales” has exploded as a top search term — and for good reason. The EDGE District just recorded multiple eight-figure transactions in a single week, proving this vibrant corridor remains the commercial heartbeat of St. Petersburg.
In early December 2025, three prime retail buildings along Central Avenue traded for a combined $7.5M+, with cap rates compressing below 6%. The crown jewel? The high-profile corner formerly home to the Enigma nightclub, now under contract for a mixed-use redevelopment featuring Sweetgreen and luxury apartments above. These “Central Avenue St Pete property sales” signal unstoppable investor confidence in the 600–2800 blocks.
What’s driving the frenzy?
- Foot traffic up 28% YoY thanks to new office tenants and Saturday Morning Market crowds
- 883 residential units under construction within four blocks
- City incentives for adaptive reuse of historic structures
Buyers range from local restauranteurs snapping up 1,500–4,000 sq ft retail condos to out-of-state funds acquiring entire assemblages for trophy projects. Average price per square foot for prime Central Avenue storefronts now tops $650 — a 22% jump from 2023.
For investors searching “Central Avenue St Pete property sales,” opportunities still exist in value-add buildings with expiring leases or under-utilized lots zoned CRT-1. Triple-net retail strips and short-term rental-eligible mixed-use properties are moving fastest. With 2,400 additional apartments scheduled for delivery by 2027, rental demand along the Central corridor will only intensify.
Whether you’re a passive investor seeking stable cash flow or a developer planning the next iconic corner, Central Avenue remains the #1 commercial play in Tampa Bay right now.