Projects
Motocave Tampa Bay
Project facts
- Status
- Completed
- Address
- 2051 Gandy Blvd N
- City
- St. Petersburg, Florida
- Region
- Tampa MSA
- Submarket
- St. Petersburg; Clearwater
- Units
- 43
- Amenity tier
- Premium
- Key amenities
- Owners' Clubhouse/Lounge, Mezzanine Capabilities, Wash Bays & RV Stations, Gated Access & Security
- Construction
- Tilt Wall
- Finish level
- High-Quality
- Year built
- 2024
- Flood zone
- AE
Market value summary
- # of Sales (T-36)
- 51
- Avg Sale Price (T-36)
- $332 / SF
- Avg Sale Price (T-36)
- $392,000
- Avg Market Value
- $428 / SF
- Avg Market Value
- $503,000
Location Summary
St. Petersburg / St. Petersburg; Clearwater Overview
Motocave Tampa Bay is a completed 43 unit Standard Tier project by DDA Development at 2051 Gandy Blvd N, on the Gandy Boulevard corridor in northeast St. Petersburg, Pinellas County. The site sits about half a mile east of the I-275 interchange at Gandy and roughly three miles southwest of the Gandy Bridge approach, the peninsula's most direct crossing to South Tampa, Westshore and Tampa International Airport, about 25 minutes in normal conditions. The Carillon and Gateway employment district is 2.5 miles north and St. Pete-Clearwater International Airport four miles northwest, while downtown St. Petersburg's waterfront, the Pier, the Old Northeast and Snell Isle sit five to six miles south down 4th Street N or I-275, roughly 15 minutes.
The Tampa to St. Petersburg to Clearwater MSA reached about 3,375,273 residents in 2024, roughly 6.3 percent growth since the 2020 Census at more than double the national rate, and Florida led all states in the latest IRS data with a net $20.6 billion gain in adjusted gross income. Within that metro, the St. Petersburg and Clearwater corridor is the platform's highest scoring Tampa Bay submarket on wealth, at the 91.3 portfolio relative percentile, and its most proven resale environment.
The immediate trade area is a working, mature stretch of that corridor rather than a barrier island: 210,783 residents and 9,217 households earning $200,000 or more within five miles, layered over the Gateway daytime job base, with the coastal wealth of Snell Isle, the Old Northeast and Shore Acres just south and east.
Current Events & Infrastructure
- I-275 express lanes, 38th Avenue N to Gandy Boulevard: FDOT began a $340 million widening in August 2025 adding two tolled express lanes in each direction across 7.5 miles, terminating at the Gandy interchange half a mile west of the site, with completion estimated in late 2030. Near term work is disruptive; the finished corridor widens the site's draw from Clearwater and north county.
- St. Pete-Clearwater International Airport terminal program: Pinellas County advanced a program of up to $145 million in May 2026, about $110 million of it anticipated federal grants, covering a second story above baggage claim, replacement jet bridges, added hold room and concession space and a parking garage, with design scheduled for 2027. PIE is four miles northwest and its passenger volume is up more than 50 percent in a decade, which matters for seasonal owners who fly in to collect a vehicle.
Key Demand Drivers
Growth on this corridor is arriving as apartments, marina slips, office campuses and entertainment acreage, all of which add affluent users and vehicles without adding deeded, private, climate controlled garage bays.
- Derby Lane site, one mile east at 10490 Gandy Blvd N: Rally Development took control of the 131.5 acre property, roughly 95 acres developable, in April 2025 and placed $58.25 million of financing against 12 parcels. Its chief executive describes the planned gaming, entertainment and retail redevelopment as "a multi-100-million-dollar, if not a multi-billion-dollar" project, and the poker room already draws about 16,000 visitors a week.
- Amara Bay Residences and Marina, three miles northeast at 12000 Gandy Blvd N: Key International is building 415 luxury apartments plus rental townhomes on 39 waterfront acres with a 150 slip marina and an 8,000 square foot restaurant, on a $121 million construction loan; vertical construction began in August 2025 and first deliveries are expected in late 2026.
- Carillon and the Gateway employment district, 2.5 miles north: Raymond James & Associates is the county's largest financial employer with 4,600 Pinellas employees anchored on its Carillon Parkway campus, and Jabil's global headquarters stands about one mile east on Dr. Martin Luther King Jr. St N with 1,987 county employees.
- Gateway Logistics Center Phase II, two miles northwest: Greystar and Rockpoint broke ground March 20, 2025 on 332,000 net rentable square feet of Class A space within a 93 acre site, delivering summer 2026.
- Collector culture at both ends of the drive: the Tampa Bay Automobile Museum, two miles northwest at 3301 Gateway Centre Blvd in Pinellas Park, holds roughly 90 avant garde front wheel drive and rear engine cars of the 1920s and 1930s, while Festivals of Speed draws more than 250 exotic, classic and muscle cars plus over 100 Porsches to Vinoy Park six miles south each February, its 22nd running set for February 13 to 14, 2027.
Location Highlights
- MSA Position: About 3,375,273 metro residents in 2024, growing roughly 6.3 percent since 2020.
- Enthusiast and Collector Culture: A 90 vehicle museum two miles northwest and a 250 plus car showcase on the Vinoy waterfront six miles south each February.
- Infrastructure and Recreation: A new FDOT mixed use trail linking Gandy Boulevard to I-275 along 4th Street N was under construction as of July 2026, three miles from the Gandy Bridge.
- Market Specific Factor: The corridor posts Tampa Bay's fastest trailing year price per square foot gain at 16.6 percent on older, more varied inventory, leaving higher specification supply thin against buyer depth.
- Tax and Quality of Life: No state income tax; Florida's net $20.6 billion adjusted gross income gain leads all states.
- High Net Worth Concentration: 2,637 households earning $200,000 or more within three miles, 9,217 within five and 15,626 within seven, against a five mile median home value of $339,909.
Area Demographics (ACS 2024)
5-Mile Profile: Population 210,783 | Median HH Income $72,093 | HH Earning $150K+ 17.7% | Median Age 43.1 | Age 55+ 34.7% | Seasonal Units 4.9% | Households with 3+ Vehicles 10.4%
Wealth Index: 5.1 / 10 (SCK portfolio-relative)
Unit values
| Unit | Size | Market value | $ / SF |
|---|---|---|---|
| Unit 100 | 327 SF | $160,000 | $489 / SF |
| Unit 200 | 1,332 SF | $554,000 | $416 / SF |
| Unit 201 | 1,296 SF | $547,000 | $422 / SF |
| Unit 202 | 1,296 SF | $545,000 | $420 / SF |
| Unit 203 | 1,296 SF | $545,000 | $420 / SF |
| Unit 204 | 1,080 SF | $470,000 | $435 / SF |
| Unit 205 | 1,080 SF | $470,000 | $436 / SF |
| Unit 206 | 1,080 SF | $470,000 | $435 / SF |
| Unit 207 | 1,080 SF | $470,000 | $435 / SF |
| Unit 208 | 1,080 SF | $470,000 | $435 / SF |
| Unit 209 | 1,080 SF | $470,000 | $435 / SF |
| Unit 210 | 1,311 SF | $549,000 | $419 / SF |
| Unit 211 | 1,560 SF | $619,000 | $397 / SF |
| Unit 212 | 1,356 SF | $563,000 | $415 / SF |
| Unit 213 | 1,290 SF | $543,000 | $421 / SF |
| Unit 214 | 1,591 SF | $627,000 | $394 / SF |
| Unit 300 | 987 SF | $437,000 | $443 / SF |
| Unit 301 | 960 SF | $426,000 | $444 / SF |
| Unit 302 | 960 SF | $430,000 | $448 / SF |
| Unit 303 | 960 SF | $429,000 | $447 / SF |
| Unit 304 | 960 SF | $430,000 | $448 / SF |
| Unit 305 | 960 SF | $428,000 | $446 / SF |
| Unit 306 | 987 SF | $438,000 | $444 / SF |
| Unit 400 | 987 SF | $437,000 | $443 / SF |
| Unit 401 | 960 SF | $430,000 | $448 / SF |
| Unit 402 | 979 SF | $439,000 | $448 / SF |
| Unit 403 | 979 SF | $439,000 | $448 / SF |
| Unit 404 | 960 SF | $427,000 | $445 / SF |
| Unit 405 | 987 SF | $437,000 | $443 / SF |
| Unit 500 | 1,440 SF | $584,000 | $406 / SF |
| Unit 501 | 1,440 SF | $584,000 | $406 / SF |
| Unit 502 | 1,440 SF | $590,000 | $409 / SF |
| Unit 503 | 1,440 SF | $584,000 | $405 / SF |
| Unit 504 | 1,200 SF | $515,000 | $430 / SF |
| Unit 505 | 1,200 SF | $516,000 | $430 / SF |
| Unit 506 | 1,200 SF | $516,000 | $430 / SF |
| Unit 507 | 1,200 SF | $516,000 | $430 / SF |
| Unit 508 | 1,440 SF | $583,000 | $405 / SF |
| Unit 509 | 1,440 SF | $590,000 | $409 / SF |
| Unit 510 | 1,440 SF | $584,000 | $405 / SF |
| Unit 511 | 1,440 SF | $584,000 | $405 / SF |
| Unit 512 | 1,440 SF | $590,000 | $409 / SF |
| Unit 513 | 1,440 SF | $587,000 | $408 / SF |