St. Pete Coney Island restaurant space hits the market at $40 per square foot

The 2,080-square-foot space that housed the Coney Island Sandwich Shop for nearly a century is now available for lease at 250 Dr. Martin Luther King Jr. St. N in St. Petersburg.

The Barlas family, who owned the restaurant from 1926 until 2021, is seeking a new tenant. The asking price is $40 per square foot annually, which equates to approximately $6,933 per month. The family has invested about $150,000 to update the property to current codes. These upgrades include two new ADA-compliant restrooms with updated fixtures, new flooring, and renovated plumbing and electrical systems.

Justin Barlas, a fourth-generation member of the family and current property owner, stated that the space retains the original lunch counter and stools. He noted that 2026 marks 100 years since his grandfather first opened the business. Barlas highlighted the historical mix of patrons, describing a place where former mayors sat next to construction workers and multi-generational families.

In a statement, Barlas said, “Part of what made Coney Island special was that people could come in, get a good meal and not break the bank.” He expressed interest in leasing the space to a locally owned restaurant that maintains that community focus. He suggested the next tenant could be a diner, a new version of the Coney Island concept, or a different type of eatery entirely.

The restaurant closed permanently in 2021 in response to the COVID-19 pandemic. Previous attempts to reopen the venue have occurred, but the Barlas family is now transitioning to a landlord role. Betsy Shafer of Colliers is the listing agent for the property.

The space is ready for a new occupant. The building has been updated for modern accessibility and utility standards while preserving the original dining furniture. The lease terms are set at a flat annual rate per square foot. The location remains on the north side of Dr. Martin Luther King Jr. Street.