6950 22Nd Ave St. Petersburg, FL 33710

Property Details for 6950 22Nd Ave

Property type

Commercial real estate

Description

This exceptional opportunity presents the acquisition of a thriving, family-owned jewelry store in St. Petersburg, Florida. Located at 6950 22nd Ave N, 33710, this business boasts a unique, free-standing diamond-shaped building within a high-traffic retail center offering ample parking and excellent visibility. Established 39 years ago, the business enjoys a stellar reputation, evidenced by numerous 5-star reviews across various platforms. The sale includes a substantial inventory valued at approximately $800,000 wholesale, encompassing designer jewelry, stones, settings, watches, and accessories. Furthermore, over $100,000 worth of jewelry design and repair equipment is included. Existing supplier relationships with several gemstone wholesalers and designer jewelry companies are in place, ensuring a smooth transition for the new owner. The current owner will provide assistance during the transition period. The property is a single-story Class B building, offering a boutique experience with a personalized touch that has cultivated a loyal customer base. Financial performance is strong, with a Net Operating Income (NOI) of $105,060 and an attractive 8.08% capitalization rate. The asking price for this turnkey business is $1,300,000. This presents a rare opportunity to acquire a well-established, profitable business with significant growth potential in a desirable location.