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Shopping Strip

93% Occupied 16-Suite Strip Center | Strong Leasing Activity | Tampa, FL

4023 W Waters Ave, Tampa, FL 33614

Listing Price: $3,304,000

Cap Rate
5.50%
Gross SF
15,712
Rentable SF
13,600
Price/Gross SF
$210.29
Lot Size
1.73 acres
Year Built
1988

Investment Overview

Marcus & Millichap is pleased to bring to market Northwest Plaza located in Tampa, FL.

Investment Highlights

  • 13,600-Sq.Ft. Sixteen-Suite Strip Center | 93.75% Occupied by a Local Tenant Mix Serving Day to Day Needs of Residents and Neighboorhoods Nearby.
  • Short Term Leases at Below Market Rent | Average Occupied Base Rent is $14.28 PSF | Northwest Tampa Submarket Average NNN Rent PSF is $23.08.
  • Strong Leasing Activity Through Pandemic | Tenants Occupying approximately 81% of Total GLA Extended Term Within the Past 24 Months.
  • Strategically Positioned Near the Intersection of N. Dale Mabry Highway & W. Waters Avenue and Access & Exposure to Over 45,000 + VPD | Property Equipped with Large Billboard & Signage
  • Landlord Repaved and Applied Seal Coat to Parking Lot in 2021 | Roof in Good Condition, Last Replaced in 2013.
  • Dense Demographics | 330,000+ Residents with Average Household Incomes in Excess of $68,000 within 5-Mile Radius.
  • Among Metropolitan Areas with a Population of Two Million or More, Tampa Remained in the Top 10 Markets for Rent Growth Rate. As of Q2 2022, Northwest Tampa Submarket Retail Rents Grew by 7.6% Year Over Year.
  • Within a 15-Minute Drive to Tampa International Airport, Raymond James Stadium and 20-Minute Drive to Downtown Tampa, University of South Florida, and Busch Gardens | Located within Three Minute Drive to a Walmart Ranked in the Top 3% of all National Locations with Approximately 1.9-Million Annual Visits - Placer.ai

Exclusively Listed By

Financing By

Shopping Strip

93% Occupied 16-Suite Strip Center | Strong Leasing Activity | Tampa, FL

Listing Price: $3,304,000

Cap Rate
5.50%
Gross SF
15,712
Rentable SF
13,600
Price/Gross SF
$210.29
Lot Size
1.73 acres
Year Built
1988

Investment Highlights

  • 13,600-Sq.Ft. Sixteen-Suite Strip Center | 93.75% Occupied by a Local Tenant Mix Serving Day to Day Needs of Residents and Neighboorhoods Nearby.
  • Short Term Leases at Below Market Rent | Average Occupied Base Rent is $14.28 PSF | Northwest Tampa Submarket Average NNN Rent PSF is $23.08.
  • Strong Leasing Activity Through Pandemic | Tenants Occupying approximately 81% of Total GLA Extended Term Within the Past 24 Months.
  • Strategically Positioned Near the Intersection of N. Dale Mabry Highway & W. Waters Avenue and Access & Exposure to Over 45,000 + VPD | Property Equipped with Large Billboard & Signage
  • Landlord Repaved and Applied Seal Coat to Parking Lot in 2021 | Roof in Good Condition, Last Replaced in 2013.
  • Dense Demographics | 330,000+ Residents with Average Household Incomes in Excess of $68,000 within 5-Mile Radius.
  • Among Metropolitan Areas with a Population of Two Million or More, Tampa Remained in the Top 10 Markets for Rent Growth Rate. As of Q2 2022, Northwest Tampa Submarket Retail Rents Grew by 7.6% Year Over Year.
  • Within a 15-Minute Drive to Tampa International Airport, Raymond James Stadium and 20-Minute Drive to Downtown Tampa, University of South Florida, and Busch Gardens | Located within Three Minute Drive to a Walmart Ranked in the Top 3% of all National Locations with Approximately 1.9-Million Annual Visits - Placer.ai

Investment Overview

Marcus & Millichap is pleased to bring to market Northwest Plaza located in Tampa, FL.

Exclusively Listed By

Financing By

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