Done Deals is a new weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.

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Snell Arcade basement hits the market 

The basement of the historic Snell Arcade in downtown St. Petersburg has hit the market at $3.3 million. 

Miami-based Tricera Capital, which owns multiple properties in St. Petersburg, purchased the property at 405 Central Avenue in a $1.88 million deal in 2023. 

The owner previously listed over 9,200 square feet of commercial space available for lease. 

The basement can house a speakeasy, an art gallery, offices, and/or retail concepts, according to the marketing brochure. 

RIPCO Commercial Real Estate is the listing agent. 

Read about the history of the Snell Arcade in St. Pete Rising’s new Historically St. Pete column.

St. Pete office property sells 

An office building in St. Pete's Grand Central District has sold in a $1.5 million deal. 

Heritage Holding of Tampa Bay Corp. sold the property at 2552 1st Avenue North to an entity connected to Tampa-based primary care group Griffin Concierge Medical. 

The 3,672-square-foot office building, constructed in 1987, is on a 0.54-acre lot and was the former home of a personal injury law firm practice. 

It's located behind the Veterans of Foreign Wars (VFW) Post 39 building and across from URBAN Brew and BBQ. 

The buyer assumed a $1.21 million mortgage from Bank of America. 

Local housing authority buys Largo site

The Pinellas County Housing Authority, which owns multiple affordable housing properties throughout the county, has scooped up a 5.3-acre site in Largo. 

Ameri Pride Property Management and Real Estate Services LLC sold three vacant parcels at 17068 U.S. Highway 19 North, north of Donovan's Mobile Home Park, to the housing authority for $3.55 million. 

The buyer also assumed a roughly $2.663 million mortgage from the seller. 

The housing authority plans to develop a 120-unit affordable apartment complex at the site, a representative at the Pinellas County Housing Authority shared in a conversation with St. Pete Rising. 

The site was previously poised to be redeveloped as Presidium Largo Apartments, a 132-unit community with seven buildings. 

The authority is working with local real estate developer HP Capital Group on the project, which is expected to break ground in 15 months. 

The complex will serve those earning mixed levels of the area's median income (AMI). 

The housing authority is also developing the Valor Preserve at Lake Seminole, a 64-unit affordable housing community for disabled veterans and their families. 

They are also preparing to break ground on Heritage Oaks, an 80-unit apartment development for seniors that will replace the 48 existing units in the Rainbow Village community in Largo. 

Luxury homes to be developed at Innisbrook Golf Resort 

A new luxury housing community will be developed at the renowned Innisbrook Golf Resort in Palm Harbor. 

Toll Brothers Inc., the nation’s leading builder of luxury homes, will develop the 174-home community dubbed Montrose at Innisbrook. 

Construction of the Toll Brothers sales center and model homes is set to begin this summer. Sales will launch this fall, according to an announcement. 

Homes will be priced from the mid-$500,000s.

The home sites will have lake, preserve, and golf course views across three collections: Townes, Highbridge, and Torrance.

The gated community will feature Toll Brothers’ single-family homes and townhomes ranging from 2,097 to 3,932 square feet. 

Homebuyers will be able to select from single-level or two-story home designs with three to five bedrooms, two to five bathrooms, and two- or three-car garages. 

New St. Pete medical office lists

A multi-tenant medical office building in St. Petersburg, constructed in 2023, is on the market for $4.67 million. 

The 14,760-square-foot building at 9675 4th Street North is on a 1.6-acre waterfront lot. 

The building is fully leased by two tenants -  Veterinary Emergency Group, a national emergency veterinarian practice, and Precision Health Solutions, a regional diagnostic laboratory. 

BDG 9675 LLC, an entity controlled by Belleair Development Group, purchased the property in 2017 for $2.125 million.

According to the listing, the site has Bay access and can additionally accommodate a residential development.

Marcus & Millichap is the listing agent.