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Multifamily

220 Madison

220 E Madison St, Tampa, FL 33602

Listing Price: Request For Offer

Number of Units
48
Gross SF
61,762

Investment Overview

Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire 220 Madison in Downtown Tampa. 220 Madison offers an investor the unique opportunity to acquire a 136-bed/48-unit mixed-use tower with three ground-floor retail tenants consisting of Downtown’s only CVS, Subway and Pita Republic. As one of the few residential rental properties truly located within the core of Downtown Tampa, 220 Madison offers residents unparalleled lifestyle, walkability, and proximity to an abundance of nearby amenities. Fully redeveloped and historically designated in 2019, 220 Madison will provide investors with above market returns when compared to other core-Tampa offerings, while also providing strong upside as the University of Tampa recently announced they will have a significant housing shortage come August 2021 due to a surge in admissions, which should lead to substantial rent growth moving forward. Furthermore, 220 Madison offers the ability to realize value appreciation by being immersed within $5 Billion+ in current and future development.

Investment Highlights

  • The Only Residential Structure Located Directly on Downtown Tampa's "Restaurant Row"
  • Former Office Tower Entirely Redeveloped Into a Mixed-Use Luxury Student Housing Property in 2019
  • In-Place Average Effective Rents are up to 45% Below the Average of All Surrounding Rent Comparables
  • Ability to Increase Net Operating Income by 18% Within the First Twelve-Months Following Acquisition

Exclusively Listed By

Financing By

Listing Price: Request For Offer

Number of Units
48
Gross SF
61,762

Investment Highlights

  • The Only Residential Structure Located Directly on Downtown Tampa's "Restaurant Row"
  • Former Office Tower Entirely Redeveloped Into a Mixed-Use Luxury Student Housing Property in 2019
  • In-Place Average Effective Rents are up to 45% Below the Average of All Surrounding Rent Comparables
  • Ability to Increase Net Operating Income by 18% Within the First Twelve-Months Following Acquisition

Investment Overview

Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire 220 Madison in Downtown Tampa. 220 Madison offers an investor the unique opportunity to acquire a 136-bed/48-unit mixed-use tower with three ground-floor retail tenants consisting of Downtown’s only CVS, Subway and Pita Republic. As one of the few residential rental properties truly located within the core of Downtown Tampa, 220 Madison offers residents unparalleled lifestyle, walkability, and proximity to an abundance of nearby amenities. Fully redeveloped and historically designated in 2019, 220 Madison will provide investors with above market returns when compared to other core-Tampa offerings, while also providing strong upside as the University of Tampa recently announced they will have a significant housing shortage come August 2021 due to a surge in admissions, which should lead to substantial rent growth moving forward. Furthermore, 220 Madison offers the ability to realize value appreciation by being immersed within $5 Billion+ in current and future development.

Exclusively Listed By

Financing By

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