North Tampa Multifamily Development Site

Vacant Land for Sale
Catylist Listing ID: 30781588
Property Subtypes: Multi-Family
Gross Land Area: 4.68 Acres
Sale Price: $4,490,000
Unit Price: $959,401 Per Acre
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 1/4/2022

Overview / Comments

This 4.68 acre multifamily development site is located on Nebraska Avenue just south of Fowler Avenue and just minutes (3 miles) west from the planned "Uptown Tampa" development and the University of South Florida. The site was formerly the site of a mobile home park and is almost entirely cleared and ready for redevelopment. The current owner has already submitted and received an "S1" administrative zoning approval and preliminary plans drawn for a 112 unit multifamily development for a low-rise apartment development although the site has a future land use category of CC-35 (Community Commercial-35) which has a potential "FAR" (Floor to Area Ratio) of 2.0. The proposed site would consist of 2 bedroom, 1 bath apartments of 625 SF although given the land use categories, a buyer could seek full density for a mixed use development of up to 163 units with a total buildable square footage of up to 408,146 SF based upon maximum allowable density for the CC-35 Future Land Use. A considerable amount of Due Diligence has been completed on this site including surveys, site plans, and zoning / land use inquiries.
* Disclaimer - All density and unit references are calculations based upon maximum allowable under future land use. Site Plans are subject to municipal approval for final development approvals.

Located in Tampa just east of I-275 and north of Hillsborough Avenue, offering easy access to surrounding areas.

**DETAILED SALE BROCHURE UNDER PHOTOS & DOCUMENTS**

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Hillsborough
Taxing Authority: Hillsborough County
Tax ID/APN: A-13-28-18-3CS-000000-00014.0
Zoning: CI - COMMERCIAL INTENSIVE
Property Located Between: N Nebraska Ave & E Bougainvillea Ave
Largest Nearby Street: N Nebraska Ave
Traffic/Vehicle Count: 19,100
Highway Access: I-275
Airports: Tampa International
Site Description: 4.68 acre multifamily development site is located on Nebraska Avenue just south of Fowler Avenue
Area Description: Located in Tampa just east of I-275 and north of Hillsborough Avenue

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,488 159,796 346,116
Median Age: 34.87 34.5 35.47
Households: 6,306 63,506 138,230

Contact

Photograph of Listing Agent

Michael Braccia, P.A.

Bay Street Commercial CE-FL Member
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