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Retail | Office | Industrial | Multi-Family | Land | Lease
For Sale: Tampa Professional Buildings
| Price: | $1,206,000.00 | |
| City: | Brandon | |
| State: | FL | |
| Zip: | 33511 | |
| Footage: | 7000 | |
| Cap Rate: | 8.70 | |
| NOI: | 105000 | |
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Property Info:
Three-building portfolio complete and ready for occupancy in September, 2007. Two free standing buildings near Brandon Mall in Brandon Lakes Professional Park. One building is 2,500 sq ft, the other 2,000 sq ft. The other 2,500 sq ft building is in Wesley Chapel, Florida off I-75. All 3 buildings have two , equal sized office suites in each. These are designed as professional offices for medical, dental and professional users. Perfect opoportunity for owner user as well.
Quoted market rental rate is $22 per foot. Market dictates a 5% annual rent increase each year with 3-5 years leases the norm. All leases are triple net with users paying their proportionate share of all expenes above their base rental rate. Other buildings in the park already sold and leases in place. Buildings are easy to insure despite current Florida insurance issues. Professional leasing and management available. SELLER WILL MANAGE 1ST YEAR AT NO COST IF BUYER PREFERS.
Perfect 1031 fit for a seller just into sales contract. Buildings will be completed in summer, 2007.
Location Info:
Two buildings (#24, 2,000 ft and #30 2,500 ft) are in the Brandon Lakes Professional Park. Brandon is one of the strongest growth areas of Hillsborough County. Primary access to the area is I-75, US Hwy 301 and State Road 60. The Westfield Shopping Town Mall with over 1 million square feet of retail is within one mile as are major retail power centers and big box merchants.
Seller has an additional building 3,000 sq ft in size in this park available for sale as well for $750,000.
The third building of 2,500 square feet is in the Cypress Glen Professional Park in Wesley Chapel, just north of Tampa off I-75 at State Route 56. This is also referred to as part of New Tampa. Wesley Chapel is in sourthern Pasco County a couple of miles north of Hillsborough County. This is a fast growing, developing area of the county. Cleveland based, Jacobs Group is building a 1.6 million square foot regional mall at the SE corner of I-75 and route 56 and Wiregrass Ranch Development is building 13,500 single family homes in the area.
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