Listing by: Michael Braccia, PA, BAY STREET COMMERCIAL LLC, 813-254-6756
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0 Beds
n/a Full bath
8,494 SqFt
Pending
Under contract-accepting backup offers. This unique Midtown investment opportunity is located at the hard corner lighted intersection of N. Macdill Avenue and W. Cypress Street. The 8,494 SF building sits on a 35,850 square foot (.82 Acre), CG (Commercial General) zoned parcel just blocks away from the newly established “Midtown” district of Tampa, Florida. This site is conveniently located in the heart of a large high-density population with excellent access from major roads with an abundance of commercial activity and is one of the most rapidly redeveloping neighborhoods throughout the Tampa-St Petersburg MSA. The building currently consists of 7 units ranging from 698 SF up to 1,600 SF. This site is one of the few throughout the market with adequate parking (46 spaces or 6.2 spaces / 1000 SF) for medical users within such close proximity to serve the highly sought after South Tampa demographic. The retail exposure and ample parking offers an opportunity to alter tenant mix over time and drastically increase the investment return as medical lease rates in this market are currently in the mid to upper 30's per SF NNN. This parcel also has a highly desirable future land use designation of CMU-35 which stands for Community Mixed Use – 35 units to the acre development density for a mixed use development. The development potential of such a land use also comes with a potential development FAR (floor-to-area ratio) of 2.0 meaning that this .81 acre parcel would have a maximum development potential of 28 units totaling a maximum of 71,700 SF of building improvement. Please contact us to discuss current tenancy and P&L information. Located at the intersection of N. Macdill Avenue and W. Cypress Street.
Property Details | ||
---|---|---|
Price | $3,200,000 | |
Lot Size Area | 35850 | |
Lot Size Area Units | Square Feet | |
Acres | 0.82 | |
Property Type | Commercial | |
Sub type | Retail | |
MLS Sub type | Retail | |
Year Built | 1967 | |
Subdivision | UNPLATTED | |
Foundation | Slab | |
Parking Description | Over 30 Spaces | |
Geographic Data | ||
Directions | Veterans Express (589 S), continue on Memorial Hwy, take the exit toward Tampa/I-4 onto I-275 N (SR-400), 1.4 miles, take Exit 41A toward US-92/Dale Mabry Hwy, .53 miles, turn right toward N Dale Mabry Hwy/US-92, 0.17 miles, turn left onto W Cypress S, 0.76 miles, turn left onto N MacDill Ave to property. | |
County | Hillsborough | |
Latitude | 27.952392 | |
Longitude | -82.492797 | |
Market Area | 33607 - Tampa | |
Address Information | ||
Address | 1001 N Macdill AVENUE, TAMPA, FL 33607 | |
Postal Code | 33607 | |
City | TAMPA | |
State | FL | |
Country | United States | |
Listing Information | ||
Listing Office | BAY STREET COMMERCIAL LLC | |
Listing Office Phone | 813-254-6756 | |
Listing Agent | Michael Braccia, PA | |
Listing Agent Phone | 813-254-6756 | |
Buyer Agency Compensation | 2%-$295 | |
Compensation Disclaimer | The offer of compensation is made only to participants of the MLS where the listing is filed. | |
Special listing conditions | None | |
Ownership | Corporation | |
Virtual Tour URL | https://www.propertypanorama.com/instaview/stellar/T3413843 | |
MLS® Information | ||
Days on market | 359 | |
MLS® Status | Pending | |
Listing Date | Nov 14, 2022 | |
Listing Last Modified | May 2, 2024 | |
Tax ID | A152918ZZZ00000590980.0 | |
Tax Year | 2021 | |
Tax Annual Amount | 19164 | |
MLS® Area | 33607 - Tampa | |
MLS® # | T3413843 |
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This information is believed to be accurate, but without any warranty.