Future of famous St. Pete bookstore, closed for 5 years, remains a mystery

In early March 2020, the owners of Haslam’s Book Store on Central Avenue in St. Petersburg posted a note on the shop’s website.

This was the early days of the pandemic, so it was little surprise when Ray and Suzanne Hinst announced online on Sunday, March 22 that in the interest of public safety the store would close. There was so much uncertainty people barely noticed when a reopening date wasn’t given.

The store, a nationally known bookshop founded in 1933, would be closing “for a while” the note said.

But the length of the closure has turned that initial uncertainty into a mystery of sorts. That “for a while” has stretched into more than five years as Haslam’s has yet to reopen and the owners have not said — for this story or when other media or the public has contacted them — if it ever would. Through Aug. 16, the store has been closed for 1,973 days. 

With the absence of public comments or updates on the website, speculation about the future of the store and the property has taken the place of fact. This as commercial real estate brokers actively try to land the listing, developers try to reach the owners of the coveted site and book lovers wait in the hopes of a return.

Meanwhile, the Hinsts have continued to file annual reports for Haslam’s with the state’s Division of Corporations to keep the business active. The most recent one was signed May 19.

What's it worth?

Today, the store at 2025 Central Ave. has not only left a hole in Florida’s literary scene. It has also left a valuable piece of commercial real estate in one of the most sought-after corridors in the region languishing.

“It's a little bit unusual, particularly because we do have such an active real estate market here, both on the sale front and the lease rental front,” says Stephanie Addis, a vice president with Colliers who does a lot of work in Pinellas County and St. Petersburg.

“I think it would be a pretty safe bet from a developer's point of view.”

The 8,100-square-foot store sits on Central Avenue at 20th Street. Along with the building, Haslam’s Book Store Inc. owns an adjacent vacant lot which was used for parking.

Photo by Mark Wemple

Combined, the Pinellas County Property Appraiser’s website lists the market value for the properties at $1.42 million. The building was purchased in 1979 for $75,000. The lot was bought 10 years later for $155,000, according to county records.

Given its location on Central Avenue, and proximity to Interstate 75, coupled with the retail activity along the corridor, the property could likely be worth much more for the right buyer.

The hope of many who want to preserve the history is that if the building was sold it would be reused. But there are legitimate questions about whether that’s possibility.

Can it be saved?

The Haslam’s building was built in 1946, according to county records, and from the outside shows signs of age.

The bigger concern, though, is what’s happening on the inside. Looking through the windows, one can see aisle after aisle of books sitting on the shelves five years later. But that doesn’t necessarily mean much.

Given Florida’s harsh elements, if the building has been without air conditioning for the past five years there is a big possibility that components — walls, roof, windows, doors — have been damaged. There also could be mold growing or dry rot on the wood.

“I haven't been in the place, but five years of being vacant can't be great for the interior of the building, and so it may have to be scraped anyway,” says Dee Maret of Bridgewater Commercial Real Estate in St. Petersburg.

(Like others who are interested and speak of the property, he adds that he is speculating because there is no access to the building or communication with the owners.)

Maret, a Haslam’s customer before the closure, echoes many in the community who hope that it reopens or that another book retailer takes over the space. But the reality is given the size of the space and the likely cost to buy or rent the building, that model is not financially feasible.

What’s most likely to happen is if the property is ever sold the building will be torn down and some sort of retail center will be built in its place.

Is change inevitable?

Change isn’t new in the area. Immediately around the store on Central Avenue, some newer buildings have gone up and are maintaining high occupancy levels with little turnover.

If the Haslam’s building has to go, the probable replacement would be a small retail center that could fit on the .031-acre property. It could be the kind of place that attracts a coffee shop, quick service restaurant and boutique retailer as well as tenants specializing in wellness or fitness.

“That would be a scrape and rebuild scenario,” says Addis.

Photo by Mark Wemple

“Any tenant that is rent-sensitive would probably not be a candidate because when you factor in a land basis, and the ever-increasing building costs that we are continuing to see, those rents are going to be top of market. Any tenant that can't pay new construction market rents obviously would not be a candidate.”

Like Maret, though, despite her vested interest as a commercial real estate professional, Addis is nostalgic for “old St. Pete” and would personally like to see either Haslam reopen or another bookstore take over the space.

And that, really, is the crux of the Haslam’s story. It’s not about a building. Buildings are left sitting all the time. And it’s not about a retailer closing. Retailers close all the time.

It’s about what the old bookstore on Central Avenue represents in a city undergoing massive changes. So much so even the ones who would benefit from the new order root for the owners to reopen rather than sell.