3309 West Waters Avenue, Tampa, FL
Shopping Center for Sale - $699,900 - 5,100 Sq. Ft. on 0.49 acres
Property Info
CIMLS# | 873712 |
Location 3309 West Waters Avenue Tampa FL 33614 | |
Updated | November 23rd, 2016 |
Type | Shopping Center |
Price | $699,900 |
Building | 5,100 Sq. Ft. |
Land | 0.49 acres |
Property Description
The subject property is 5,100 Square Feet and sits on a lot size of almost half an acres on Waters Avenue with extremely easy access to North Dale Mabry Highway or Interstate 275. The property has solid concrete block construction built in 1986. There are 21 parking spaces which gives this plaza a 4/1000 parking ratio. The property has great frontage on Waters Avenue which makes leasing very easy. The self managed ownership group has never experienced a vacancy longer then a couple of months. All Tenants are strong local Tenants with previous business experience in their respected industries. Strong leases in place at under market rates give the new owner of this center the opportunity to add value within just a few years.
Location Description:
Located on West Waters Avenue with traffic counts of over 35,000 vehicles per day, it is one of busiest roads in all of Tampa, Florida. Access to the Central Business District along with all parts of the Greater Tampa Bay region is extremely convenient due to North Dale Mabry Highway and Interstate 275 being less then 5 minutes from this property. Within a 3 mile radius there is a population of over 116,000 people, over 45,000 households and an average household income of over $53,000 per year.
Highlights:
>> 100% Leased - Instant cash flow
>> 6.83% Existing cap rate
>> Easy to manage and lease, owner managed for years
>> Under market lease rates, room for upside
>> Great frontage on a busy street
>> Convenient access throughout Tampa Bay
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Financials
Sales Info:
>> Cap rate: 6.83%
>> Commision split: 3.0%
>> NOI: $47794