5628 W Waters Ave
Tampa, FL 33634
Hampton Inn - Tampa Airport North · Hospitality Property For Sale · 46,830 SF

Property Overview: The Hampton Inn is a five-story, 86-room, select-service hotel located in Tampa, Florida. It was constructed in 2001 out of load-bearing reinforced concrete masonry unit walls, a wood framed exterior with lightweight concrete floors. Property Renovations: The hotel started going through an extensive $2.3 million interior renovation (Hampton Forever Young Initiative Property Improvement Plan) in November of 2017, which has consequently had a negative impact on revenue due to a significant amount of rooms being down along with disgruntled guests; the FYI interior renovations are expected to be completed by June 1, 2018. The following are the number of rooms that were offline during the renovations thus far: November - 125, December - 495, January - 793, February – 64, March - 806; the following are the number of rooms estimated to be offline during April and May: April - 780, May - 744. A new investor will be required to complete the exterior portion of the FYI Property Improvement Plan, which is estimated to cost $500,000. Strategic Location: The subject property is located within close proximity to Tampa International Airport (4 miles north), and is surrounded by over 6 million square feet of office space within the North Tampa submarket. The Hampton Inn is positioned to fuel the need for overnight accommodations due to an abundance of leisure and business generators located within the immediate area and surrounding cities, such as Clearwater and St. Petersburg. Desirable Market: With nearly three million residents, Tampa is the 18th largest metropolitan area in the country, larger than Denver, Charlotte or Orlando. It ranks 22nd in terms of number of jobs and makes up 17 percent of Florida’s total gross domestic product. The Tampa Metropolitan Area draws over 20 million tourists year-round, many of the visitors being domestic resulting in an annual economic impact of about $6 billion. The Tampa MSA benefits from various economic drivers including: finance, government/ military, tourism, leisure, healthcare and area the universities support the market by providing an educated workforce. The Tampa International airport currently serves 85 non-stop destinations throughout North America, Central America, Europe and the Caribbean. In 2017, the airport handled over 19,624,284 passengers. Currently Tampa International Airport is undergoing a $2.5 billion expansion which will increase travel through the region well into the future. The military and government division continues to be one of the region’s major employers; MacDill Air Force Base employs about 18,000 personnel, estimating a $5 billion impact in the Tampa area. Underway in downtown Tampa is a $3 billion project backed by Tampa Bay Lightning owner Jeff Vinik and Bill Gate’s Cascade Development, called Water Street Tampa; plans to include: two hotels with over 650 rooms combined, one of which will become Tampa’s first five-star hotel, and an additional four-star hotel across the street from the Tampa Marriott Waterside Hotel & Marina; more than two million square feet of office space, and the first office towers to be built in Tampa in 25 years; 3,500 new apartments and condos in brand new buildings; and more than one million square feet of retail, restaurant and entertainment space to be built over the next 10 years. The Tampa MSA strives to be one of the largest communities in Florida making Hillsborough County the most practical and profitable places to live and do business in the nation. Brand Overview: Hampton Inn by Hilton is a highly sought after internationally recognized brand by travelers and hotel owners alike. Hilton Worldwide is one of the largest and fastest growing hotel companies in the world. With more than 5,200 properties and 856,000 rooms in 105 countries, Hilton Worldwide has built an excellent reputation, and offers an award-winning customer loyalty program, Hilton Honors, which is made up of over 71 million members. NEARBY BUSINESS GENERATORS: Over 6 million square feet of office space within the Tampa North Submarket | University of South Florida (approx. 50,000 students) – 10 Miles | Westshore Business District – 5 Miles | St. Joseph’s Women’s Hospital (108 beds) – 5.9 Miles | St. Joseph’s Children’s Hospital – 6 Miles | Tampa General Hospital (1,011 beds) – 12 Miles | MacDill Air Force Base (18,000 employees) – 15 Miles | Laser Spine Institute – 7 Miles | Tampa Convention Center – 10 Miles | BayCare Health Systems (12 hospitals + hundreds of other locations offering many services throughout the Tampa MSA NEARBY LEISURE GENERATORS: Tampa International Airport - 4 Miles | Downtown Tampa - 11 Miles | Amelie Arena – 10 Miles | Raymond James Stadium – 5 Miles | Steinbrenner Field – 5 Miles | Channelside / Port of Tampa – 11 Miles | Ybor City Historic District – 10 Miles | The Lowry Park Zoo – 5.5 Miles | Busch Gardens – 8.5 Miles | Adventure Island – 10 Miles | Florida Aquarium – 11 Miles | Seminole Hard Rock Hotel & Casino – 15 Miles | Tampa Fairgrounds – 15 Miles | MIDFLORIDA Credit Union Amphitheater – 15 Miles | Straz Center for the Performing Arts – 10 Miles | Ice Palace Arena – 9 Miles ? Citrus Park Mall – 4 Miles | International Plaza (mall) – 7 Miles | Westshore Plaza (mall) – 8 Miles | Tampa Bay History Center – 13 Miles | Downtown St. Petersburg – 26 Miles | Ben T. Davis Beach – 7 Miles | Clearwater Beach (Named Number One Beach in the U.S. by TripAdvisor) – 23 Miles | St. Petersburg Beach (Named Number Seven Beach in the U.S. by TripAdvisor) – 30 Miles In addition, the subject property is surrounded by several golf courses and nature parks. Tampa is home to Gasparilla, which is made up of three parades; the children’s parade and day parade which attract over 300,000 people each year, and a night parade. All parades are held on different dates during the months of January and February. Tampa Sports Teams: ? Tampa Bay Rays – Tropicana Stadium – Downtown St. Petersburg ? Tampa Buccaneers – Raymond James Stadium - Tampa ? Tampa Bay Lightning – Amelie Arena – Tampa Tampa Bay Baseball Spring Training: ? New York Yankees –Steinbrenner Field – Tampa