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Places This Week: Treasure Island estate sells for half price
The Catalyst’s weekly roundup of notable Pinellas County real estate news.
A three-level waterfront estate at 12650 7th Street E., Treasure Island sold July 31 for $5.8 million, more than a year from when it was first listed and for half of the initial asking price.
Located in the Capri Isle neighborhood, the property first entered the market in April 2025 for $11.5 million. The following January it was put up for auction with a reserve of $7 million. In March, the market price dropped to $6.9 million.
Built in 2022, the residence features 6,424 square feet of living space across the three floors. Inside are four bedrooms, six full bathrooms and one half-bath. A media room, with its own closet and bathroom, can serve as a fifth bedroom.
Highlights include an open-concept layout, floor-to-ceiling triple-pane reinforced windows, automated blinds and drapes, four five-ton HVAC units for zoned climate control, rooftop solar panels and a 48kW Generac generator.
An attached 1,543 square-foot garage on the lower level is equipped with two vehicle turntables for easy egress, and a four-story glass elevator runs from the ground floor up to the rooftop terrace.
Outdoor amenities include an electric entry gate, a 40,000-gallon pool, a rooftop spa, a 265-foot raised seawall and a private dock with a 40,000-pound lift.
The home, situated on a 0.40-acre corner parcel, was engineered with concrete-poured floors, roof and balconies, allowing it to withstand up to Category 5 hurricane winds.
The seller and listing agent, Peter Nemethy with Charles Rutenberg Realty, Inc., purchased the property in 2007 for $1.2 million. Linda Golparvar with Coastal Properties Group International was the buyer’s agent.
10475 Gandy Boulevard N., St. Petersburg. Photo: LoopNet.com.
Tortuga Point sells to American Landmark Apartments
The sale of Tortuga Point, a 295-unit multifamily complex at 10475 Gandy Boulevard N., St. Petersburg, closed July 28 for a sales price of $61.3 million. The buyer, American Landmark Apartments, secured the purchase with a $52.3 million mortgage from CBRE Capital Markets, Inc.
Built in 2010 and now rebranded as Tortuga Bayside, the property is situated on a 12.59-acre parcel of land. It comprises three four-story residential buildings ranging in size from 76,966 to 114,476 square feet of living space, and a one-story, 3,054-square-foot resident lounge which offers seating, a billiards table and a full-service bar.
Apartments include a combination of studios with 568 square feet, one-bedroom/one-bath units with 760 or 819 square feet, two-bedroom/two-bath units ranging in size from 1,108 to 1,338 square feet, and three-bedroom/two-bath units with 1,424 square feet.
Community amenities include an Oasis pool with a sundeck, a fitness studio, an outdoor kitchen and social lounge, a work-from-home lounge and 24/7 online resident services.
This is the fourth multifamily complex purchased by American Landmark Apartments in the Tampa Bay area. Others include Fairways At Feather Sound in Clearwater, The Pointe on Westshore in Tampa and The Griffin in Brandon.
The sellers, LCOR Incorporated, based in Berwyn, Pennsylvania, and Carroll Management Group, based in Atlanta, Georgia, purchased the property in 2017 for $48 million.
403 Magnolia Drive, Clearwater. Photo: Homes.com.
Harbor Oaks property lists for sale
Built in 1925, a three story estate located at 403 Magnolia Drive, in the Harbor Oaks neighborhood of Clearwater, has entered the market with an asking price of $3 million.
The home features seven bedrooms, each with its own ensuite bathroom, and one half-bath across 7,223 square feet of living space.
On the main level is an open-concept floorplan with an entry foyer, twin living rooms, a sun-filled solarium with an adjoining Florida room, a formal dining room, a private library and a spacious family room. The eat-in kitchen is equipped with stainless-steel appliances, a Dacor gas range and a large walk-in pantry.
Two large guest suites are located on the second level. The primary suite expands across the entire third floor and features a fireplace, sun deck and a large amount of storage space.
Interior highlights include original hardwood flooring, floor-to-ceiling windows, crown molding, tray ceilings, a wet bar and French doors on the main level that open to a private courtyard and balcony.
In front of the home is a red brick circular driveway and a covered brick porch, and in back is a resort-style pool and spa surrounded by a concrete and brick deck. The 0.53-acre corner lot is a short distance to downtown Clearwater and Clearwater Beach.
The home was last purchased in 2024 for $2.1 million. Raymond Mihara with Mihara & Associates, Inc. is the listing agent.
7024 Central Avenue, St. Petersburg. Photo: LoopNet.com.
Century-old Central Avenue office building enters the market
A 4,960 heated square-foot office building at 7024 Central Avenue, St. Petersburg has listed for sale with an asking price of $1.5 million. Built in 1922 and renovated in 2023, the two-story structure sits on a 0.18-acre parcel of land.
The first floor is mostly occupied by the owner’s business, and the second level is leased to multiple tenants with one suite currently available. The owner plans to relocate, providing the opportunity for the buyer to either move in, or turn the property into a fully income-producing asset.
Additional spaces include a lobby, conference room, kitchen, copy room, two restrooms and an interior staircase that connects the two floors. Upstairs are two more bathrooms.
Highlights include wood flooring, open work areas, natural light and high ceilings. Outside are 16 parking spaces, including 12 onsite and four behind the building across the alley. An exterior staircase in the rear provides direct access to the upper floor suites.
Jason Miller, owner of Florida All Risk Insurance, purchased the property in 2023 for $1 million. He is represented by George Lewis with Leverocks Realty, LLC.
2700 East Bay Drive, Largo. Photo: LoopNet.com.
Largo medical office building quickly sells
Listed in February for $3.85 million, the Palms Professional Building, a free-standing two-story office complex at 2700 East Bay Drive, Largo sold July 27 for $3.45 million.
Built in 1975 and renovated in 1996, the 19,728 heated square-foot structure sits on a 0.91-acre corner lot in a non-flood zone, with a daily traffic count of approximately 60,000 cars.
At the time of the listing, 72% of the building was occupied by a mix of medical, dental and general office tenants, with about 5,220 square feet of available space.
Onsite is monument signage and approximately 75 surface parking spots. A new roof was installed in 2021 and most of the HVAC systems were recently replaced.
The seller, represented by Pat Calhoon and Kevin Platt with Smith & Associates Commercial, purchased the property under the registered name Largo Dental Building, LLC in 2020 for $3.35 million. The buyer, a Sarasota limited liability company, closed the transaction under the registered name Kind Ventures, LLC.
5983 49th Street N., St. Petersburg. Photo: Crexi.com.
49th Street retail/warehouse for sale
A two-building, 11,253 gross square-foot property at 5983 49th Street N., St. Petersburg has listed for $1.98 million. It is currently occupied by Pack Animal Fitness, which is in the process of constructing and relocating to a new facility.
Located across the street from Northside Hospital, the 2,135-square-foot concrete structure and 9,118-square-foot metal structure, built in 1960 and 1972 respectively, are configured as a wide-open gym with some partitioned offices in front. One roll-up door is positioned in the rear of the property and one on the side.
The 0.54-acre parcel of land offers over 200 feet of frontage on 49th Street N. with approximately 30,000 vehicles passing by each day.
Prior to serving as a fitness facility, the space was home to medical offices. It is ideal for specialty retail or commercial warehouse uses.
The property was purchased by Tampa realtor Rick Noll in 2015 for $535,000. The listing is provided by Michael Braccia with Bay Street Commercial.
Real estate agents: Please forward all news for Places This Week to Amy Kagan at am*@************st.com. Thanks!
