1-3 Parcels of Land for Investment or Redevelopment

Retail-Commercial for Sale
Catylist Listing ID: 30723149
Property Subtypes: Convenience Store, Post Office, Service Station/Gas Station
Building Size (RSF): 4,250 SF
Gross Building Area: See Agent
Sale Price: $1,595,000
Unit Price: $375.29 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/16/2021

Overview / Comments

PROPERTY DESCRIPTION - The opportunity is to purchase 1-3 parcels of land for investment or redevelopment. The property consists of 2 separate buildings; one 2,600 SF building is a vacant gas station with 20,000 gallon double walled underground tanks that sits on .7 of an acre and the second is a 4,250 SF multi-tenant building consisting of 3 individually metered spaces occupied by a pharmacy, barber shop and the US post office with PO boxes, the later two have been tenants for approx. 45 years. The 3rd parcel is a cleared and vacant .34 acre available for development.

LOCATION DESCRIPTION - The property is located at 11505 E. Dr. MLK Jr Blvd in Seffner, FL. It sits on the south-east corner of Hewitt Street and MLK which is a lighted intersection and has access points on both roads.

PROPERTY SIZE - 2.04 Acres

ZONING - CN & CG

EXISTING LEASES BREAKDOWN - The existing multi-tenant building has 3 full service leases in place as outlined below:

1) Post Office has 2,810 SF and pays $54,000 annually and expires Oct 2025

2) Barber has 450 SF and pays $10,500 annually and expires June 2023

3) Pharmacy has 990 SF and pays $18,840 annually and expires March 2023

Actual Expenses total approx. $10,000/year leaving an NOI of approximately $73,000 with rent increases,

PARCEL ID - 065733-0000, 065733-0050, 065764-0000

PRICE - See next page for pricing

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Hillsborough
Tax ID/APN: 20290928Z000003000020U

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,057 68,423 180,222
Median Age: 33.23 36.01 35.78
Households: 4,726 24,304 67,090

Contact

Photograph of Listing Agent

William A. Eshenbaugh

Eshenbaugh Land Company CE-FL Member
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