208 48TH AVENUE N ST PETERSBURG FL 33703 MLS #TB8499062

Under contract-accepting backup offers. Exceptional redevelopment opportunity in highly desirable Northeast Park. This oversized NT-1 zoned double lot offers rare flexibility, including the potential to subdivide into two buildable parcels (buyer to verify with the City of St. Petersburg). Upon subdivision, each lot may allow construction of a single-family residence with a detached accessory dwelling unit (subject to City approval), creating a unique opportunity for two luxury homes side-by-side — each with multi-generational or guest house flexibility. Builders may benefit from constructing adjacent projects simultaneously, potentially improving efficiency in site work, mobilization, utilities, and scheduling. Located just off 4th Street North and approximately five minutes to Downtown St. Petersburg, the property offers convenient access to Coffee Pot Bayou, Weedon Island Preserve, shopping, dining, major interstates, and area airports. Surrounded by newer million-dollar homes, the neighborhood continues to demonstrate strong resale confidence for quality new construction. Property is located in Flood Zone AE (Base Flood Elevation 8’); new construction elevation requirements should be verified. The existing structure remains on site; however, the highest and best use may be redevelopment.