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7123 N Armenia Ave
Tampa, FL 33604
Northwest Tampa Strip Center | 100% Occupied · Retail Property For Sale
Investment Highlights
- 100% Occupied Neighborhood Retail Center | Three Tenants All on NNN Leases | Landlord Only Responsible for Roof, Structure and Plumbing
- Both Tenants Currently Have 3% Annual Rental Increases
- Value-Add Opportunity: Current Rents at $18/SF Below Comparable New Lease Rates
- 2,952-SF on +\-0.17 Acre Lot | $53,136 Annual Base Rent
- Upside Potential: Near-term Lease Rollovers Allow for Rent Adjustments to Market
- Located in a Strong Northwest Tampa Market, Armenia Avenue Sees 20,500 Vehicles Per Day | Dense Population With Solid Household Incomes
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,952 SF
Year Built
1959
Price
$736,000
Price Per SF
$249.32
Cap Rate
6.27%
NOI
$46,173
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.40
Lot Size
0.17 AC
Zoning
CG - Commercial General
Parking
13 Spaces (4.4 Spaces per 1,000 SF Leased)
Frontage
73’ on Armenia Ave
Property Taxes
| Parcel Number | A-27-28-18-3G5-000039-00016.0 | Improvements Assessment | $451,800 |
| Land Assessment | $100 | Total Assessment | $451,900 |
Property Taxes
Parcel Number
A-27-28-18-3G5-000039-00016.0
Land Assessment
$100
Improvements Assessment
$451,800
Total Assessment
$451,900
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