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Office Warehouse

Crenshaw Warehouse

5452 W Crenshaw St, Tampa, FL 33634

Listing Price: $1,170,000

Cap Rate
3.63%
Gross SF
14,132
Price/Gross SF
$82.79
Lot Size
0.70 acres
Year Built
1984
Rentable SF
11,656

Investment Overview

5452 WEST CRENSHAW IS AN 11,676 SQUARE FOOT FLEX WAREHOUSE CONSTRUCTED OF MASONRY IN THE WEST TAMPA INDUSTRIAL MARKET. THE PROPERTY IS LOCATED WITHIN MINUTES OF TAMPA INTERNATIONAL AIRPORT AND IS LESS THAN A MILE FROM VETERANS EXPRESSWAY. IN THIS LOCATION, THE PROPERTY IS WELL SITUATED TO CATER TO SMALL BAY WAREHOUSE TENANTS WHO ARE SERVICING THE NORTH TAMPA AND WEST TAMPA MARKET PLACE. THE CURRENT OWNER IS LOOKING TO SIGN A LEASEBACK FOR ROUHGLY 3 YEARS FOR BETWEEN 3,000 - 5,000 SQUARE FEET OF THE PROPERTY (UP TO HALF OF THE BUILDING). ONCE A NEW OWNER LEASES UP THE REMAINING SPACE TO EITHER ANOTHER BUSINESS ON A NNN BASIS OR TO SMALL BAY TENANTS, THE ASSET WILL PRODUCE A PROFORMA CAP RATE AROUND 7.5% OR BETTER. NOT INCLUDED IN THE CURRENT OR PROFORMA UNDERWRITING IS THE INCOME GENERATED BY A CELL TOWER ON THE PROPERTY. THIS IS CURRENTLY GRANTED OVER IN AN EASEMENT TO T-MOBILE AND AT&T FIR UO TI 40 YEARS. ONCE THAT EASEMENT EXPIRES, THE BUYER WILL THEN PICK UP THAT INCOME.

Investment Highlights

  • Sale Leaseback
  • Located Minutes from Tampa International Airport
  • Located Minutes from Veterans Expwy

Exclusively Listed By

Financing By

Office Warehouse

Crenshaw Warehouse

Listing Price: $1,170,000

Cap Rate
3.63%
Gross SF
14,132
Price/Gross SF
$82.79
Lot Size
0.70 acres
Year Built
1984
Rentable SF
11,656

Investment Highlights

  • Sale Leaseback
  • Located Minutes from Tampa International Airport
  • Located Minutes from Veterans Expwy

Investment Overview

5452 WEST CRENSHAW IS AN 11,676 SQUARE FOOT FLEX WAREHOUSE CONSTRUCTED OF MASONRY IN THE WEST TAMPA INDUSTRIAL MARKET. THE PROPERTY IS LOCATED WITHIN MINUTES OF TAMPA INTERNATIONAL AIRPORT AND IS LESS THAN A MILE FROM VETERANS EXPRESSWAY. IN THIS LOCATION, THE PROPERTY IS WELL SITUATED TO CATER TO SMALL BAY WAREHOUSE TENANTS WHO ARE SERVICING THE NORTH TAMPA AND WEST TAMPA MARKET PLACE. THE CURRENT OWNER IS LOOKING TO SIGN A LEASEBACK FOR ROUHGLY 3 YEARS FOR BETWEEN 3,000 - 5,000 SQUARE FEET OF THE PROPERTY (UP TO HALF OF THE BUILDING). ONCE A NEW OWNER LEASES UP THE REMAINING SPACE TO EITHER ANOTHER BUSINESS ON A NNN BASIS OR TO SMALL BAY TENANTS, THE ASSET WILL PRODUCE A PROFORMA CAP RATE AROUND 7.5% OR BETTER. NOT INCLUDED IN THE CURRENT OR PROFORMA UNDERWRITING IS THE INCOME GENERATED BY A CELL TOWER ON THE PROPERTY. THIS IS CURRENTLY GRANTED OVER IN AN EASEMENT TO T-MOBILE AND AT&T FIR UO TI 40 YEARS. ONCE THAT EASEMENT EXPIRES, THE BUYER WILL THEN PICK UP THAT INCOME.

Exclusively Listed By

Financing By

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