10625 1st St E Treasure Island, FL 33706

Listing details for 10625 1st St E, Treasure Island, FL 33706 : Short Sale. RARE TREASURE ISLAND COMMERCIAL INVESTMENT OPPORTUNITY! Over 10,000 square feet of commercial space offering established rental income, flexible C-2 zoning, and tremendous value-add potential! This versatile two-story property is ideal for investors, business owners, or those looking to expand their commercial portfolio. The second floor features 8 fully leased professional office suites generating approximately $6,159 per month ($73,908 annually) in existing rental income. The approximately 5,000-square-foot ground floor offers significant opportunity for additional revenue, including 900 square feet of finished, currently vacant space ready for a new tenant. The remaining approximately 4,100 square feet features existing metal stud framing and can be customized for a variety of potential uses, including medical, dental, veterinary, professional offices, or other commercial operations. C-2 zoning provides flexibility for office, retail, restaurant, and other commercial uses, subject to applicable approvals. MAJOR RECENT IMPROVEMENTS include a NEW ROOF installed January 2025 with transferable warranty, NEW hurricane-resistant windows and doors, NEW water and sewer lines replacing previous cast-iron piping, electrical upgrades, and durable DensGlass exterior sheathing. Additional highlights include 29 parking spaces, convenient front and rear alley access, and an approximately 99’ x 134’ lot. Whether you’re looking to maintain the existing rental income, increase cash flow by leasing additional space, establish your own business while collecting rent, or explore future redevelopment possibilities, this property offers multiple investment strategies in desirable Treasure Island! Seller will also consider leasing the unfinished ground-floor space with negotiable terms. SHORT SALE – All offers, purchase price, terms, and final sale are subject to the seller’s lender approval. Approval is not guaranteed. DRIVE-BY ONLY. SHOWINGS BY APPOINTMENT.