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Shopping Strip

Columbus Plaza

5002 E 10th Ave, Tampa, FL 33619

Listing Price: $4,500,000

Cap Rate
7.01%
Gross SF
47,009
Rentable SF
47,009
Price/Gross SF
$95.73
Lot Size
4.74 acres
Year Built
1968

Investment Overview

Marcus & Millichap is pleased to exclusively list Columbus Plaza in Tampa, Florida. Columbus Plaza is a 47,009 square foot shopping center located near downtown Tampa and other major area attractions. The property benefits from direct access to the signalized intersection of North 50th Street and East Columbus Drive, which sees a combined 57,000 vehicles per day. Columbus Plaza is located less than one-quarter mile south of Interstate 4, connecting Tampa to both Orlando and the east coast of Florida. Interstate 4 has, on average, over 164,000 vehicles per day and is the busiest roadway in all of Tampa Bay. Columbus Plaza is located a short 10 minute drive to downtown Tampa where more than $2 Billion of office, residential, hospitality, retail development is underway. Scheduled to be completed within the next few years, downtown Tampa, and the surrounding area, is expected to see unprecedented population growth and appreciation in rents as businesses and an affluent population base relocate and invest in the area. Immediately adjacent to Columbus Plaza is IDEA Hope, a brand new K-2 & 6 grade charter school expected to serve over 600 students annually. Columbus Plaza is 100 percent occupied with 87 percent of the gross leasable area ore fully NNN leases. The lease expirations are staggered with an average of over 4 years remaining on the lease term. Columbus Plaza features a mix of national, regional, and local internet-resistant tenants including Bank of America, Family Dollar and Happy’s as anchors. Family Dollar has been open in this location for almost 25 years.

Investment Highlights

  • Priced Well Below Replacement Cost at Only $96 Per Square Foot
  • Anchored by Bank of America (S&P A-Credit Rating) and Family Dollar (Over 7,000 Locations) and Happy's
  • 100% Occupied with Long Term Stable Occupancy
  • Staggered Lease Terms with Established Tenants
  • Below Market Rents - Averaging a Record Low $8.31 Per Square Foot in Base Rent
  • Excellent Location, only 10 minutes from Downtown Tampa with Over $2 Billion Water Street Development. IN Close Proximity to Interstate 4, Seminole Hard Rock Hotel & Casino, Port Tampa, Ybor City, Busch Gardens Tampa Bay and other major attractions.
  • High Traffic Location –More Than 57,000 Cars Per Day.
  • Located Adjacent to a Brand New IDEA Charter School – Total Development Cost Estimated to be Over $10Million

Exclusively Listed By

Shopping Strip

Columbus Plaza

Listing Price: $4,500,000

Cap Rate
7.01%
Gross SF
47,009
Rentable SF
47,009
Price/Gross SF
$95.73
Lot Size
4.74 acres
Year Built
1968

Investment Highlights

  • Priced Well Below Replacement Cost at Only $96 Per Square Foot
  • Anchored by Bank of America (S&P A-Credit Rating) and Family Dollar (Over 7,000 Locations) and Happy's
  • 100% Occupied with Long Term Stable Occupancy
  • Staggered Lease Terms with Established Tenants
  • Below Market Rents - Averaging a Record Low $8.31 Per Square Foot in Base Rent
  • Excellent Location, only 10 minutes from Downtown Tampa with Over $2 Billion Water Street Development. IN Close Proximity to Interstate 4, Seminole Hard Rock Hotel & Casino, Port Tampa, Ybor City, Busch Gardens Tampa Bay and other major attractions.
  • High Traffic Location –More Than 57,000 Cars Per Day.
  • Located Adjacent to a Brand New IDEA Charter School – Total Development Cost Estimated to be Over $10Million

Investment Overview

Marcus & Millichap is pleased to exclusively list Columbus Plaza in Tampa, Florida. Columbus Plaza is a 47,009 square foot shopping center located near downtown Tampa and other major area attractions. The property benefits from direct access to the signalized intersection of North 50th Street and East Columbus Drive, which sees a combined 57,000 vehicles per day. Columbus Plaza is located less than one-quarter mile south of Interstate 4, connecting Tampa to both Orlando and the east coast of Florida. Interstate 4 has, on average, over 164,000 vehicles per day and is the busiest roadway in all of Tampa Bay. Columbus Plaza is located a short 10 minute drive to downtown Tampa where more than $2 Billion of office, residential, hospitality, retail development is underway. Scheduled to be completed within the next few years, downtown Tampa, and the surrounding area, is expected to see unprecedented population growth and appreciation in rents as businesses and an affluent population base relocate and invest in the area. Immediately adjacent to Columbus Plaza is IDEA Hope, a brand new K-2 & 6 grade charter school expected to serve over 600 students annually. Columbus Plaza is 100 percent occupied with 87 percent of the gross leasable area ore fully NNN leases. The lease expirations are staggered with an average of over 4 years remaining on the lease term. Columbus Plaza features a mix of national, regional, and local internet-resistant tenants including Bank of America, Family Dollar and Happy’s as anchors. Family Dollar has been open in this location for almost 25 years.

Exclusively Listed By

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