Waters Investment Opportunity

Office for Sale
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

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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

Contact

Photograph of Listing Agent

Sage N. Andress P.A. , ALC, CCIM

Sunmark Realty, Inc. CE-FL Member
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