Student Housing
Urban Core Tampa Portfolio
220 E Madison St, Tampa, FL 33602
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap invites qualified investors to review the Urban Core Tampa Portfolio, which includes two class-A properties located near the University of Tampa. The Portfolio offers 79 units and 246 beds and is available to qualified investors on a free and clear basis.
Urban Core Tampa Portfolio
Investment Highlights
- Two Fully-Redeveloped Properties (2019 & 2024) With Over $30 Million Having Been Infused by Current Ownership
- Located Within a 12-Minute Radius, is Over $11 Billion Worth of Active/Planned Mixed-Use Developments
- Currently Operates as Luxury Student Housing, Catering to University of Tampa Students (25 Consecutive Years of Record Enrollment)
- Competitive Amenity Packages, Including Fitness Centers, Leasing Offices, Resident Lounges, a Swimming Pool, and a Campus Shuttle
- Ability to Increase Revenue by Approx. $100,000 Upon CVS' Lease Expiration and/or Renewal in January 2026 (See Underwriting Notes for More Information)
- Market Leading Property Performance, With 220 Madison Achieving 100% Occupancy Every Year Since Opening, and Cigar Lofts Achieving 99% in its First Year of Operations
- Current Preleasing Has Already Surpassed 65% for August Move-ins, With Rental Rates that Reflect a Combined 8.5% Year-Over-Year Growth Rate
- Opportunity to Unlock Future Upside, With Prelease Rental Rates That Currently Average 22% to 25% Below the Average Rent at Nearby Comparables
Listing Price: Request For Offer
Investment Highlights
- Two Fully-Redeveloped Properties (2019 & 2024) With Over $30 Million Having Been Infused by Current Ownership
- Located Within a 12-Minute Radius, is Over $11 Billion Worth of Active/Planned Mixed-Use Developments
- Currently Operates as Luxury Student Housing, Catering to University of Tampa Students (25 Consecutive Years of Record Enrollment)
- Competitive Amenity Packages, Including Fitness Centers, Leasing Offices, Resident Lounges, a Swimming Pool, and a Campus Shuttle
- Ability to Increase Revenue by Approx. $100,000 Upon CVS' Lease Expiration and/or Renewal in January 2026 (See Underwriting Notes for More Information)
- Market Leading Property Performance, With 220 Madison Achieving 100% Occupancy Every Year Since Opening, and Cigar Lofts Achieving 99% in its First Year of Operations
- Current Preleasing Has Already Surpassed 65% for August Move-ins, With Rental Rates that Reflect a Combined 8.5% Year-Over-Year Growth Rate
- Opportunity to Unlock Future Upside, With Prelease Rental Rates That Currently Average 22% to 25% Below the Average Rent at Nearby Comparables
Investment Overview
Marcus & Millichap invites qualified investors to review the Urban Core Tampa Portfolio, which includes two class-A properties located near the University of Tampa. The Portfolio offers 79 units and 246 beds and is available to qualified investors on a free and clear basis.
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