Shopping Strip
Two-Unit Retail Center | No Near Term Rollover | Dense Infill Market | High VPD | Tampa, FL
4553 W Kennedy Blvd, Tampa, FL 33609
Listing Price: $1,950,000
Cap Rate
5.70%
Gross SF
5,142
Rentable SF
5,142
Price/Gross SF
$379.23
Lot Size
0.25 acres
Year Built
1969
Investment Overview
Marcus & Millichap is pleased to bring to market the Two-Unit Retail Strip Center located in Tampa, FL.
Two-Unit Retail Center | No Near Term Rollover | Dense Infill Market | High VPD | Tampa, FL
Investment Highlights
- Two-Unit Center | 100% Occupied by Specialty Tennis Retailer and Computer Repair Tenants | Tenants Reimburse 100% of CAM, Insurance, Taxes & Management Cost
- Both Leases Are Equipped with 3% Annual Rental Increases | Tennis Plaza Lease Commenced in 2014 and Has Extended Twice for 5 Years in 2017 and in 2022
- Tenants are Responsible for HVACs and Reimburse Parking Lot Repair & Maintenance. Landlord is Responsible for Roof & Exterior Walls
- Westshore Submarket Retail Rents are $27.46/SF | Subject Property Weighted Average Rent is $23.46/SF (15% Below Market)
- Located Along West Kennedy Blvd, Seeing 37,000+ Vehicles Per Day, 4 Miles from Downtown Tampa and 5 Miles from Tampa International Airport
- Strategically Positioned in a Dense Retail and Residential Corridor Just Off Of I-275 Near the WestShore Plaza Mall and the Urban Centre Office, a Class A Office Complex Featuring a Hotel and Multiple Amenities | 5.5M SF of Office, 6.2M SF of Retail Space and 209,640+ Employees Within 5-Miles
- Situated Near Multiple National Tenants Such as McDonald's, Taco Bell, Starbucks, Walgreens, Petco, Burger King, Publix, Chipotle, David's Bridal, Barnes & Noble and More
- Dense & Affluent Demographics | 229,400+ Residents Within 5-Miles | Average Household Incomes in Excess of $125,300 within 1-Mile Radius. Population is Expected to Increase 4% By 2026 | Tampa's Retail Sector has Proven Largely Resilient to the Pandemic, with Tight Retail Fundamentals and a Generally Flat Vacancy Rate Since 2020 (3.30% Vacancy)
Exclusively Listed By
Financing By
Shopping Strip
Two-Unit Retail Center | No Near Term Rollover | Dense Infill Market | High VPD | Tampa, FL
Listing Price: $1,950,000
Cap Rate
5.70%
Gross SF
5,142
Rentable SF
5,142
Price/Gross SF
$379.23
Lot Size
0.25 acres
Year Built
1969
Investment Highlights
- Two-Unit Center | 100% Occupied by Specialty Tennis Retailer and Computer Repair Tenants | Tenants Reimburse 100% of CAM, Insurance, Taxes & Management Cost
- Both Leases Are Equipped with 3% Annual Rental Increases | Tennis Plaza Lease Commenced in 2014 and Has Extended Twice for 5 Years in 2017 and in 2022
- Tenants are Responsible for HVACs and Reimburse Parking Lot Repair & Maintenance. Landlord is Responsible for Roof & Exterior Walls
- Westshore Submarket Retail Rents are $27.46/SF | Subject Property Weighted Average Rent is $23.46/SF (15% Below Market)
- Located Along West Kennedy Blvd, Seeing 37,000+ Vehicles Per Day, 4 Miles from Downtown Tampa and 5 Miles from Tampa International Airport
- Strategically Positioned in a Dense Retail and Residential Corridor Just Off Of I-275 Near the WestShore Plaza Mall and the Urban Centre Office, a Class A Office Complex Featuring a Hotel and Multiple Amenities | 5.5M SF of Office, 6.2M SF of Retail Space and 209,640+ Employees Within 5-Miles
- Situated Near Multiple National Tenants Such as McDonald's, Taco Bell, Starbucks, Walgreens, Petco, Burger King, Publix, Chipotle, David's Bridal, Barnes & Noble and More
- Dense & Affluent Demographics | 229,400+ Residents Within 5-Miles | Average Household Incomes in Excess of $125,300 within 1-Mile Radius. Population is Expected to Increase 4% By 2026 | Tampa's Retail Sector has Proven Largely Resilient to the Pandemic, with Tight Retail Fundamentals and a Generally Flat Vacancy Rate Since 2020 (3.30% Vacancy)
Investment Overview
Marcus & Millichap is pleased to bring to market the Two-Unit Retail Strip Center located in Tampa, FL.
Exclusively Listed By
Financing By
