Catylist ID:
#30340693
| Catylist Listing ID: | 30340693 |
| Property Subtypes: | Business Park, Governmental |
| Building Size (RSF): | 33,684 SF |
| Gross Building Area: | 373,314 SF |
| Gross Land Area: | 118,272 SF |
| Sale Price: | $7,600,000 |
| Unit Price: | $225.63 PSF |
| Property Use Type: | Investment |
| Building Name: | Thompson Waters Building |
| Class of Space: | Class B |
| Usable Size (USF): | 33,684 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 8.35% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 9/17/2020 |
Overview / Comments
|
Opportunity: Commercial real estate investment opportunity with major, credit worthy long term governmental tenant in the heart of Tampa. The building has undergone major capital improvements with a complete interior remodel from the ground up. Excellent return of investment over a ten year term. IRR of 13.6+% with leveraged position. Address: 5483 W Waters Ave, Tampa, FL 33634 (easy access to Veterans Expressway, Anderson Rd and Waters Ave). Central location services all of Tampa Bay within 30 minutes. Building Features: -Over 33,684 RSF of office space. 100% leased out with large, major credit worthy tenant occuying 71% of the building. -Interior of entire building has been renovated from the ground up over the past two years. -167+/- parking spaces with a 5/1000 parking ratio -Active POA with minimal annual dues. Other business park owners include First Industrial and Arcis Realty. -Located Near Area Restaurants & Shopping. Main bus line located at the end of Sunstate St. servicing all of Tampa. -On-site hotel (Comfort Suites) and on-site school (Creative World). For more detailed information, please see attached brochure. Full Offering Memorandum available upon completion of Confidentiality Agreement and Brokerage Agreement. |
Attachments & Media
Current Tenants
| Tenant Business Name | Department of Revenue |
Additional Details
| Nearest MSA: | Tampa-St. Petersburg-Clearwater |
| County: | Hillsborough |
| Taxing Authority: | Hillsborough County |
| Tax ID/APN: | U-19-28-18-89R-000000-00012.0 |
| Zoning: | M |
| Property Visibility: | Good |
| Highway Access: | Major access to Veteran's Expressway, Anderson Rd and Waters Ave. |
| Airports: | Tampa International Airport |
| Site Description: | Large business park with a mixture of business professional and governmental tenants. |
| Area Description: | Large corporate area close to TIA. |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Year Renovated: | 2018 |
| Roof Type: | Flat |
| Construction/Siding: | Block |
| Parking Type: | Surface |
| Parking Description: | 5:1000 parking with over 165 spaces. |
| Sprinklers: | Wet |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Zoning Description: | M |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 7,146 | 126,958 | 302,476 |
| Median Age: | 33.55 | 37.45 | 38.31 |
| Households: | 2,842 | 49,440 | 120,344 |
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