HOT Seminole Heights Location!!!

5416 N 9th St Tampa, FL 33604

5416 N 9th St, Tampa, FL, 33604
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$3,000,000
Last Verified:
Jun 01, 2024

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Highlights

  • Value Add Opportunity
  • Seminole Heights was named one of the best places to live in Florida
  • Prime investment opportunity for condo reconversion
  • Assumable loan at 3.98% which matures in 2031
  • Many multi-family development projects around subject site
  • Immediate proximity to public transportation and Interstate 275
  • Easy access from Hillsborough Ave.
  • Plenty of resident parking
  • High traffic corridor off Interstate 275, Nebraska Avenue and Hillsborough Ave.
  • 2023 Total Population |15,733 - 1 Mile | 139,509- 3 Mile | 328,645- 5 Mile

Description

Florida Commercial Group presents an extraordinary opportunity to purchase a Commercial Investment Property that boasts two free-standing buildings totaling 12,688 sf. This site features 16 units in two 2-story buildings of 6,344 sf each. The lot size is 0.58 acre, and it is zoned SH-RM allowing for multifamily residential uses in Seminole Heights. This location would be ideal for this use Property is offered with tenants in place, for an impressive cash flow making this a great investment opportunity. SIGNAGE, FRONTAGE and EXPOSURE for this property is phenomenal. This is a must see!!

The site offers plenty of room for parking, storage, and landscaping. The subject sits 0.1-mile East of Nebraska Avenue and 0.1 miles North of Hillsborough Avenue boasting a traffic count of approximately 47,361 VTD on that intersection. This property offers easy access to Downtown Tampa, USF, Temple Terrace, Lutz, Land O’ Lakes, Town N’ Country, Carrollwood, Wesley Chapel, along with the Greater Tampa area as well as convenient access to public transportation, US Hwy 41/ Nebraska Avenue, Interstate 275, and N. Florida Avenue. This is an outstanding location featuring remarkable visibility, high traffic counts, a high-density residential population and bordered by a variety of retail and office commerce! The property is close to major travel arteries including Interstate 275 North which sits 0.2 miles West. This investment opportunity is ideal for those looking to expand their real estate portfolio in a thriving location.

Florida Commercial Group presents for sale, a low-rise apartment complex in the heart of Seminole Heights.
Attention Investors: HAMPTON TERRACE APARTMENTS, a garden- style, 16- unit apartment complex in a great Seminole Heights location- between Hillsborough Ave and 9th Street N, and Interstate 275 is available for sale. Excellent income potential! Currently 87.5% occupied with 90% tenant retention. This complex is being sold as is and consists of 16 units (8 2BR/1BA and 8 1BR/1BA), onsite laundry facilities and a multi-purpose room. NOI is approximately $150,000/year and is expected to increase. This property includes the opportunity to assume a mortgage at 3.98%.


Year Built: 1985
Building Size: 12688sq ft
Lot Size: 0.59 acres


Documents

5416 N. 9th Street_SALE.pdf

Map of 5416 N 9th St, Tampa, FL, 33604

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.