$1,160,000
$1,175,000
1.3%For more information regarding the value of a property, please contact us for a free consultation.
7,424 SqFt
SOLD DATE : 03/10/2021
Key Details
Sold Price $1,160,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 7,424 sqft
Price per Sqft $156
Subdivision Rio Vista
MLS Listing ID T3276874
Sold Date 03/10/21
Construction Status Inspections
HOA Y/N No
Year Built 1981
Annual Tax Amount $9,049
Lot Size 0.480 Acres
Acres 0.48
Property Description
Insta Real Estate Solutions is proud to offer for sale a 6,390 sf NNN-leased retail center located on 0.48 acres at the corner of W. Waters Ave. and Marigold Ave. The property is well situated on a highly trafficked stretch of W. Waters Ave., approximately 0.5 miles west of N. Dale Mabry Highway, that experiences a daily traffic volume in excess of 42,500 vehicles per day. The property is 100% occupied by five tenants, four of which are long-standing. NNN leases, slightly below current market rate, are in place for all tenants, with 3.0-5.0% annual escalations. Current ownership has invested heavily in capital improvement and deferred maintenance projects, to include exterior building repaint, updating of electrical, fence replacement/repairs, lift station repair and maintenance, parking lot cleaning and striping, tree removal and extensive pruning, and box/cabinet sign replacements on the building exterior and the W. Waters Ave. pylon sign. The roof was replaced in 2017. Offered for sale at $183.88/sf, as compared to the Northwest Tampa average of $210.00/sf, and the greater Tampa-area average of $196.00/sf. CAP rate is 7.46%. PLEASE DO NOT DISTURB OR CONTACT TENANTS.
Location
State FL
County Hillsborough
Community Rio Vista
Zoning CN
Interior
Cooling Central Air
Exterior
Waterfront false
Roof Type Shingle
Building
Lot Description Corner Lot
Story 1
Entry Level One
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Structure Type Block,Stucco,Wood Frame
New Construction false
Construction Status Inspections
Others
Ownership Corporation
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Bought with COLDWELL BANKER REALTY
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5425 Golden Gate Pkwy, Naples, FL, 34116, United States