Description

Insta Real Estate Solutions is proud to offer for sale a 6,390 sf NNN-leased retail center located on 0.48 acres at the corner of W. Waters Ave. and Marigold Ave. The property is well situated on a highly trafficked stretch of W. Waters Ave., approximately 0.5 miles west of N. Dale Mabry Highway, that experiences a daily traffic volume in excess of 42,500 vehicles per day. The property is 100% occupied by five tenants, four of which are long-standing. NNN leases, slightly below current market rate, are in place for all tenants, with 3.0-5.0% annual escalations. Current ownership has invested heavily in capital improvement and deferred maintenance projects, to include exterior building repaint, updating of electrical, fence replacement/repairs, lift station repair and maintenance, parking lot cleaning and striping, tree removal and extensive pruning, and box/cabinet sign replacements on the building exterior and the W. Waters Ave. pylon sign. The roof was replaced in 2017. Offered for sale at $183.88/sf, as compared to the Northwest Tampa average of $210.00/sf, and the greater Tampa-area average of $196.00/sf. CAP rate is 7.46%. PLEASE DO NOT DISTURB OR CONTACT TENANTS.

Details

MLS#T3276874
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1981
Days On Site10

Features

SQ Feet7,424
ZoningCN
Acreage0.48
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Area Information
StateFL
CountyHillsborough
CityTAMPA
Zip Code33614
Area33614 - Tampa
Listing VS Median (in 33614)
Price:
$1,175,000
low | high
Med:
$263,600
100% of Average
SqFt:
7,424
low | high
Med:
1,490
100% of Average
$ / SqFt:
$158
low | high
Med:
$177
38.221253748394% of Average
On Site:
10
low | high
Med:
604
2% of Average
Listing Updated: November 25, 2020 9:10:16 PM PST
Charles Rountree PA LogoMLS Number: T3276874
Listing Provided By:
Charles Rountree PA  of  INSTA REAL ESTATE SOLUTIONS

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