655 42ND AVENUE N ST PETERSBURG FL 33703 MLS #TB8474192

Under contract-accepting backup offers. Price Improvement – Prime Development Opportunity in Greater Allendale! Subdividable and ADU eligible – NT-1 zoning
Now offered at an improved price, this rare 0.28-acre (90 x 137) double lot in the highly desirable, high-and-dry Greater Allendale neighborhood presents exceptional potential for builders, developers, and investors. Zoned NT-1, the property offers the opportunity to subdivide into two oversized buildable parcels, each eligible for a single-family residence plus an Accessory Dwelling Unit (ADU).
The existing well-maintained concrete block 2-bedroom, 2-bath home provides immediate usability for rental income, owner occupancy, or interim use while development plans are finalized. Recent upgrades include HVAC (2024), water heater (2023), impact-resistant windows, and an updated kitchen with granite countertops and stainless steel appliances.
Positioned on an expansive corner lot with rear alley access, the property offers added flexibility for site planning, access, and future construction.
Located in one of St. Petersburg’s most established and sought-after neighborhoods, Greater Allendale continues to see strong demand thanks to its charm, high elevation, and close proximity to downtown.
Whether you are looking for an infill development opportunity, long-term hold, or value-add investment, this property delivers location, flexibility, and upside that rarely come available.