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6711-6735 N Armenia Ave 11,523 SF 84% Leased Retail Building Tampa, FL 33604 $2,900,000 ($251.67/SF) 7.28% Cap Rate
Investment Highlights
- Prime corner location with multiple access points and pylon signage
- Four remodeled apartment units for additional income
- Dense trade area with 300,000+ residents within five miles
- Strong tenant mix with long-standing community presence
- Roof replaced in 2020; no deferred maintenance
Executive Summary
Franklin Street is pleased to exclusively offer the Shoppes of Armenia, a well-established neighborhood retail center located in the heart of Tampa, Florida. The Property totals 11,523 RSF and features a complementary mix of locally owned mom & pop tenants that have long served the surrounding community — many of which have operated at the center since before COVID.
Originally constructed in 1956 (concrete block construction), the main building was later expanded in 1964 to include additional GLA and four apartment units, offering diversified income potential. The current rent roll features 10 retail tenants with base lease terms ranging from 1 to 3 years, of which four tenants have option periods. Notably, seven tenants have occupied the property for more than five years.
This asset presents investors with a true value-add opportunity through near-term lease-up and increasing lease rates. With Florida’s recent repeal of the commercial rent tax and shorter-term leases in place, a new owner can immediately unlock upside potential from day one in one of Tampa Bay’s most dynamic and fast-growing trade areas.
Originally constructed in 1956 (concrete block construction), the main building was later expanded in 1964 to include additional GLA and four apartment units, offering diversified income potential. The current rent roll features 10 retail tenants with base lease terms ranging from 1 to 3 years, of which four tenants have option periods. Notably, seven tenants have occupied the property for more than five years.
This asset presents investors with a true value-add opportunity through near-term lease-up and increasing lease rates. With Florida’s recent repeal of the commercial rent tax and shorter-term leases in place, a new owner can immediately unlock upside potential from day one in one of Tampa Bay’s most dynamic and fast-growing trade areas.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
11,523 SF
Building Class
C
Year Built
1956
Price
$2,900,000
Price Per SF
$251.67
Cap Rate
7.28%
NOI
$211,098
Percent Leased
84%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
0.73 AC
Zoning
CG - Commercial General Zone allows Multiple Mixed Uses.
Parking
43 Spaces (3.73 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Property Manager on Site
- Security System
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Space Availability
- Space
- Size
- Space Use
- Position
- Available
• Signage on Armenia • Restroom • High Visibility
• Signage on Armenia • Restroom • Former Hair & Nail Salon • Water hook up
| Space | Size | Space Use | Position | Available |
| 6711 | 1,200 SF | Retail | - | Now |
| 6719 | 600 SF | Retail | - | Now |
6711
| Size |
| 1,200 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
6719
| Size |
| 600 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
6711
| Size | 1,200 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
• Signage on Armenia • Restroom • High Visibility
1 of 8
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
6719
| Size | 600 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
• Signage on Armenia • Restroom • Former Hair & Nail Salon • Water hook up
Moderately walkable
70/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | A-35-28-18-3GS-B00000-00019.0 | Improvements Assessment | $1,796,200 |
| Land Assessment | $100 | Total Assessment | $1,796,300 |
Property Taxes
Parcel Number
A-35-28-18-3GS-B00000-00019.0
Land Assessment
$100
Improvements Assessment
$1,796,200
Total Assessment
$1,796,300
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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6711-6735 N Armenia Ave
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