Places This Week: South St. Petersburg apartments up for auction

The Morgan, a 304-unit apartment complex located at 5473 27^th Street S., St. Petersburg, has entered bankruptcy and is up for auction with a minimum bid of $42 million.

The property consists of 27 three-story structures with over 315,000 square feet of living space spread across 21 acres of land. They were built in 1972 and renovated in 2015.

Onsite are 144 one-bedroom/one-bath units ranging between 663 and 1,060 square feet, 130 two-bedroom/two-bath units ranging between 1,062 and 1,302 square feet, and 30 three-bedroom/two-bath units ranging between 1,530 and 1,731 square feet.

Community amenities include three swimming pools, a clubhouse, fitness center, business center, playground, outdoor grilling and picnic areas, laundry facilities and on-site leasing.

The auction is being held Sept. 4 and the last day to bid is Aug. 21.

Lurin, a Dallas-based real estate investment firm, purchased the property in 2022 for $49.5 million.

The listing is provided by Christopher Mahoney, Heather Milazzo and Casey Ott with Keen-Summit Capital Partners, LLC.

306 Buttonwood Lane, Largo. Photo: Realtor.com.

Mid-century Largo waterfront home lists

A one-story waterfront home situated on a 0.20-acre lot at 306 Buttonwood Lane, Largo has listed for $2.93 million. Built in 1964, it features three bedrooms and three full bathrooms across 2,001 square feet of living space.

Inside is a great room with a custom acoustic slat wall, a linear fireplace, a recessed 100-inch Samsung TV, surround sound and an entertainment bar with illuminated shelves. The kitchen features LG Studio appliances, quartz countertops, dual ovens, a large center island and recessed lighting.

Attached to the home is a 506-square-foot two-car garage. Outdoors is a screened-in pool and a composite dock with a 12,000-pound lift.

Additional highlights include a metal roof, new impact-rated doors and windows, and direct access to the Intracoastal Waterway.

The home was last purchased in May 2025 for $1 million. Stephen Hachey with Flat Fee MLS Realty is the listing agent.

10500 Dr. Martin Luther King Jr. Street N., St. Petersburg. Photo: LoopNet.com.

Jabil sells third building in less than a year

Jabil, Inc., the engineering, supply chain and manufacturing company headquartered in St. Petersburg since 1982, closed July 22 on the sale of 10500 Dr. Martin Luther King Jr. Street N. to Bankers Commercial Corporation for $31 million. This is the third property Jabil has sold to the Los Angeles-based company in less than a year.

The two-story, 124,020-square-foot light manufacturing structure was built in 1997 and sits on 12.80 acres of land. It is a dedicated facility for Jabil’s defense and aerospace services.

In December 2005, Jabil closed on the sale of 10001 16^th Street N. to Bankers Commercial Corp. for $11 million and the sale of 10900 Roosevelt Boulevard N. for $14 million.

Per the mortgages with MUFG Bank, Ltd., Jabil is leasing back all three properties for a term of at least five years as of the date of each respective closing.

Jabil purchased the MLK Street property in 1997 for $506,000.

500 Gulf Boulevard, Belleair Beach. Photo: Homes.com.

Belleair Beach estate sells for $6.75 million

The sale of a two-story waterfront residence at 500 Gulf Boulevard, Belleair Beach closed July 28 for $6.75 million. It was first listed a month prior with an asking price of $8 million.

Situated on nearly a half-acre plot of land, the 3,923-square-foot home provides four bedrooms, three full bathrooms and two half-baths.

Featured on the 2,773-square-foot first floor is a foyer, a great room with a gas fireplace, a formal dining room, an executive study and a chef’s kitchen with premium appliances and an abundance of custom cabinetry.

The main-level primary suite offers an ensuite bath, an expansive walk-in closet and French doors that open to a private terrace overlooking the Gulf of Mexico.

Three guest suites, each with walk-in closets and Gulf-facing balconies, along with two full bathrooms and a spacious loft, span across the 1,150-square-foot upper level.

Outdoors is a salt-water pool, a heated spa, a kitchen, a concrete seawall and 160 feet of Gulf of Mexico waterfrontage.

Additional highlights include an 805-square-foot three-car garage, a metal roof, a tankless water heater, natural gas and a security system. The gated property also includes Belleair Shore’s private beach amenities.

The seller, represented by Tanner Tillung with EXP Realty, LLC, purchased the property in 2022 for $5.93 million. Garret Jagdmann with Charles Rutenberg Realty, Inc. was the buyer’s agent.

6501 and 6527 Central Avenue, St. Petersburg. Photo: Crexi.com.

Central Avenue two-parcel sale

Central Plaza, a two-building office property spanning over two parcels of land at 6501 and 6527 Central Avenue, St. Petersburg, has listed for $3.70 million. The seller had purchased the asset in March for $2.53 million.

The two one-story buildings, both of which are fully occupied, comprise a combined 11,894 heated square feet across 0.72 acres of land.

6501 Central Avenue was built in 1983 and encompasses 5,494 square feet. It is occupied by five tenants with offices ranging in size from 900 to 1,260 square feet. One lease is set to expire in 2027, one in 2028, one in 2029 and two in 2031.

6527 Central Avenue was built in 1972 and provides 6,400 heated square feet and a 320-square-foot canopy. Five tenants occupy the building with spaces ranging from 810 to 2,156 square feet. Two leases will expire in 2027, one in 2029 and one in 2031. The fifth tenant rents on a month-to-month basis.

The two parcels provide 63 surface parking spaces. They are surrounded by a mix of restaurants, boutique retailers and service-based businesses.

The seller, Dos Amigos Real Estate, LLC, is represented by Reid Thedford and Evan Cannan with Marcus & Millichap.

1520 22nd Avenue N., St. Petersburg. Photo: LoopNet.com.

Milrose Apartments for sale

Milrose Apartments, a one-building, 10-unit apartment complex at 1520 22^nd Avenue N., St. Petersburg, has entered the market with an asking price of $1.65 million.

Built in 1961, the 6,762 heated square-foot structure sits on a 0.24-acre parcel of land. It features two two-bedroom/one-bath units with 800 square feet, and eight one-bedroom/one-bath units with between 527 and 557 square feet.

The 0.24-acre property features 10 on-site parking spaces, laundry facilities and a shared courtyard with picnic tables and a grilling area. It provides quick access to I-275 and is minutes from downtown St. Petersburg.

The seller, under the registered name Demchak Melrose, LLC, purchased the property in 2011 for $385,000.

The listing is provided by Jason Spitzer and Matthew Lanni with the Spitzer Rutland team at Smith & Associates Real Estate.

Real estate agents: Please forward all news for Places This Week to Amy Kagan at am*@************st.com. Thanks!