Tampa, FL Double Branch Plaza 12850 W. Hillsborough Avenue, Tampa, FL Cap Rate 6.5% Tampa (Clair-Mel City, Florida, US ) Built

$3,821,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

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  • Type: Commercial
  • Style: Commercial
  • Size: 8,945 sq. ft.
  • Development Level: Built
  • Lot Size: 1.5 acres
  • Year Built: 2020

Description

Tampa, FL Double Branch Plaza 12850 W. Hillsborough Avenue, Tampa, FL Cap Rate 6.5%

Cap Rate: 6.5%
NOI: $248,392
Building Size: 8,945 sqft
Lot Area: 1.5 acres
Occupancy: 100%
Year Built: 2020

Price: $3,821,000 USD

DESCRIPTION
Multi-Tenant Offering | Brand New Construction | Strong Operators | Annual Rental Increases
• Opportunity to purchase a brand new four-tenant building at a combined 8,996 SF of retail space
• Strong mix of tenants: Le Peep, Tropical Smoothie, and Ocean Nail Salon
• Le Peep and Tropical Smoothie (63% of combined GLA) have both recently signed a
10- year lease, demonstrating their long-term commitment to the site
• The operator of this Tropical Smoothie has three of the top five Tropical Smoothies in the nation, demonstrating their experience and success
• Operator of Ocean Nail Salon has been in the business for more than 10 years and has executed a 7-year lease that commences March of 2021
• Each lease features annual rental increases throughout the initial term, generating NOI and hedging against inflation
• Brand new construction which features high level finishes and distinct design elements
NNN Leases | Fee Simple Ownership | Limited Landlord Responsibilities
• Tenants reimburse for CAM, taxes, and insurance
• Landlord responsibilities limited to roof & structure
• Investor benefits from fee-simple ownership of the building & land
• Ideal management-free investment in a state with no state income tax.

Primary Retail Corridor | North Bay Shopping Center | Nearby National/Credit Tenants
• Directly across from North Bay Shopping Center, a 270,000 SF shopping center anchored by Publix and Lowe’s Home Improvement
• Other nearby national/credit tenants include RaceTrac, Bank of America, Cracker Barrel, Starbucks, Walgreens, and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site
Located Along Hillsborough Ave | Fronting Primary Thoroughfare | Drive-Thru Equipped | Excellent Visibility & Access
• Double Branch Plaza is strategically located along Hillsborough Ave, a major retail and commuter thoroughfare averaging 57,000 vehicles passing per day
• The building is equipped with a drive-thru for Tropical Smoothie, providing ease and convenience for customers
• Drive-thrus typically generate 60-70% of restaurant sales, better positioning Tropical Smoothie to sustain high sales during COVID-19
• The asset benefits from significant frontage and multiple points of access
Downtown Oldsmar Redevelopment | Direct Residential Consumer Base | Nearby Schools | Tampa Bay Downs
• ‘Town Center’, a Downtown Oldsmar redevelopment project consisting of 10 acres of land adjacent to City Hall on State Street will include commercial, residential, retail and recreational components, click HERE to read more
• Several nearby residential communities including The Sedona, The Preserve, Veranda at West Chase and more, providing a direct consumer base from which to draw
• Double Branch Plaza is directly in front of Primavera Preschool and near Oldsmar local schools
• Less than one mile south of Tampa Bay Downs, an American Thoroughbred horse racing facility
Strong Demographics in 5-mile Trade Area | Population Growth
• More than 156,000 residents and 62,000 employees support the trade area
• Features an average income of $99,334
• Within a 1-mile radius the population is expected to grow 2.08% within the next 5 years

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
# ID de Propiedad: 358038156
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.