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Shopping Neighborhood

100% Occupied Center in Tampa Bay MSA

102 Flagship Dr, Lutz, FL 33549

Listing Price: $2,992,914

Cap Rate
7.00%
Gross SF
16,268
Rentable SF
16,268
Price/Gross SF
$183.98
Lot Size
1.37 acres
Year Built
1980

Investment Overview

Subject is a Prime 16,268 Square-Foot Retail Center on a 1.37-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, and Located on the Main Thoroughfare into Tampa Bay. Subject is 100% Leased and Has Modified Gross Leases with 3% Annual Increases for Each Tenant. Subject is Only 12 Miles from Downtown Tampa Bay, with a Metropolitan Statistical Area Population of About 2.9 Million Residents.

Investment Highlights

  • Over $300,000 of Capital Improvements Over the Last Five Years
  • The Anchor Restaurant Tenant is Occupying 39% of the Building and Paying 32% of the Total Rental Income. This Tenant Started Leasing at this Location in 1999 and is Very Established
  • The Center has Online Resistant, Easily Replaceable Tenants Serving the Community Directly: Barber, Toddler Care, Music School, Beauty salon, Caterer, Massage, Tattoo, Church, etc
  • Well Established Retail Corridor | Nearby National Retailers Include: Winn Dixie, Dunkin', Pizza Hut, McDonald's, Walgreens, Chase Bank, Publix, and Many Others
  • Affluent Community with an Average Household Income of Over $105,000 within Five Miles of the Subject Asset, as of 2021
  • Robust Traffic Counts on US Highway 41 (41,319 Vehicles Per Day) Running From Miami Florida to the Upper Penninsula of Michigan (Source: LandVision, CoStar, 2022)

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Shopping Neighborhood

100% Occupied Center in Tampa Bay MSA

Listing Price: $2,992,914

Cap Rate
7.00%
Gross SF
16,268
Rentable SF
16,268
Price/Gross SF
$183.98
Lot Size
1.37 acres
Year Built
1980

Investment Highlights

  • Over $300,000 of Capital Improvements Over the Last Five Years
  • The Anchor Restaurant Tenant is Occupying 39% of the Building and Paying 32% of the Total Rental Income. This Tenant Started Leasing at this Location in 1999 and is Very Established
  • The Center has Online Resistant, Easily Replaceable Tenants Serving the Community Directly: Barber, Toddler Care, Music School, Beauty salon, Caterer, Massage, Tattoo, Church, etc
  • Well Established Retail Corridor | Nearby National Retailers Include: Winn Dixie, Dunkin', Pizza Hut, McDonald's, Walgreens, Chase Bank, Publix, and Many Others
  • Affluent Community with an Average Household Income of Over $105,000 within Five Miles of the Subject Asset, as of 2021
  • Robust Traffic Counts on US Highway 41 (41,319 Vehicles Per Day) Running From Miami Florida to the Upper Penninsula of Michigan (Source: LandVision, CoStar, 2022)

Investment Overview

Subject is a Prime 16,268 Square-Foot Retail Center on a 1.37-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, and Located on the Main Thoroughfare into Tampa Bay. Subject is 100% Leased and Has Modified Gross Leases with 3% Annual Increases for Each Tenant. Subject is Only 12 Miles from Downtown Tampa Bay, with a Metropolitan Statistical Area Population of About 2.9 Million Residents.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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