Description

The subject property is located on the south side of 22nd Avenue North 511 feet east of 68th Street North in the Northwest section of the City of St Petersburg in South Pinellas county. The neighborhood is the primary commercial node surrounding Tyrone Square Mall at the confluence of Tyrone Blvd., 66th St. and 22nd Ave N; the mall is located 100 feet north of subject property. 22nd Ave N is a 4-lane, east-west artery spanning north central St. Petersburg and providing primary access to the mall; latest traffic count adjacent to the mall is 16,152 cars per day. 66th St. N (SR 693) is a 6-lane, north/south artery which links west St. Petersburg with South Pasadena (1.3 miles south) and Pinellas Park (2.5 miles north); traffic count n subject area is 42,500 per day; 66th St intersects 22nd Ave N roughly 750 feet east of subject property. Tyrone Blvd. intersects 66th St along the north side of the mall; it extends northwesterly to the Bay Pines area and Seminole; this major 4-lane highway carries 33,000 cars per day in the mall area, a 10% increase in the last 2 years. Tyrone Square Mall, which opened in 1972, is the 6th largest retail venue in the Tampa Bay area.

Tyrone Square is the 2nd largest mall in Pinellas county and is the retail epicenter of south Pinellas County. The Tyrone area is nearly fully developed; most homes in the area were constructed in the 1950's and 1960's; population growth is expected to be flat in the next 5 years most of the upland sites in the neighborhood have been developed. There has been some major commercial infill development in the area in the last few years; a 5-story, obsolete office building was demolished and replaced by a large, Publix-anchored, retail center; this property is 1/4 miles south of the subject on the west side of 66th St N. Also, Marketplace Shopping Center, which had been anchored by Publix, is now home to LA Fitness Center; this property is located at the southwest quadrant of 22nd Ave and 68th St N, a short distance west of the subject. The Diocese of St. Petersburg tract (75 acres MOL) at the northwest quadrant of 66th St and 9th Ave N is scheduled for a massive mixed-use redevelopment in the near future, which will include professional offices, bank and senior housing.