Prime Redevelopment Opportunity in Downtown Tampa
1001 North Franklin Street
Tampa, FL 33602
Highlights
Description
Prime Redevelopment Opportunity in Downtown Tampa! Current zoning allows for Medium to High-Rise Development.
Located on historic Franklin Street at 1001 N. Franklin St. in the heart of downtown Tampa, this retail building offers an exceptional redevelopment opportunity, ideal for buyers/investors/developers looking to capitalize on the growth and dynamism in an OPPORTUNITY ZONE in Tampa's urban core.
The property is surrounded by a vibrant business environment, including financial institutions, digital/marketing agencies, and professional organizations, ensuring a steady flow of professionals and visitors, as well as an abundance of newer urban living development. Key cultural and recreational attractions such as the Tampa Riverwalk, the Florida Aquarium, and the Tampa Theatre are within walking distance, drawing significant foot traffic. Nearby dining and entertainment hotspots like Sparkman Wharf and Armature Works further enhance the property's appeal. Prominent nearby businesses include Raymond James Financial Inc., IBM, Cisco, Pfizer, Sykes Enterprises Inc, Deloitte, Tech Data Corporation, TECO, Fifth Third bank, Regions Bank, Bank of America, Chase Bank, Truist, Wells Fargo and many more, as well as Michelin Guide restaurants. Neighboring tenants include Starbucks, The Dan, Ebbe (2024 Michelin Star), Tampa Theatre, Duck Weed Urban Market, CW's Gin joint, Tampa Pizza Company, and Hotel Flor Downtown Tampa, Tapestry Collection by Hilton.
Site is available for Ground Lease or Purchase.
CBD-1 Zoning (Central Business District) with NO RESTRICTION ON FAR (and no height restriction set by city of Tampa, only by FAA restrictions). Central business district allows for: high intensity/density high-rise, residential/major office and regional serving commercial developments (intensive and general commercial, service, Office, and residential uses, including apartments and condominiums) Key characteristics: A mixture of Medium and high-rise buildings that create a varied and dramatic skyline WITHIN HEIGHT LIMIT (height restrictions set by FAA). The existing building is not identified as a historic building, and is not limited by any historic renovation/redevelopment requirements. The existing building is 2 stories and is 9,684 SF, located on a 5,460 SF lot. Ability to expand SF significantly with additional stories.
Downtown Tampa boasts a diverse population of young professionals, families, and retirees.
The .3 mile median household income is approximately $113,370. This reflects the economic vitality and higher income levels typically associated with urban cores. The area is known for its active lifestyle and vibrant community. Points of interest such as the Tampa Museum of Art, Glazer Children's Museum, Curtis Hixon Waterfront Park, and the TECO Line Streetcar System are all nearby, adding to the location's attractiveness.
The property is conveniently located at the intersection of N. Franklin St and E. Tyler St, across from Herman Massey Park (undergoing a $2,000,000.00 park renovation), and is located near major highways, including I-275 and I-4, providing easy access to the broader Tampa Bay area. Excellent public transportation options, including bus routes and the TECO Line Streetcar, enhance connectivity for both customers and employees. The newest development directly across the street is Nine 15 Luxury High Rise Apartments, built in 2024, a 23 story, mixed-use development with 362 luxury apartments with state of the art amenities and 9,300 SF of ground floor retail space.
Zoned for commercial use, the site features a spacious layout suitable for various retail configurations and is primed for renovation/redevelopment, offering a blank canvas for creative redevelopment projects.
There are several convenient parking options near 1001 N. Franklin St. in downtown Tampa:
William F Poe Garage - Located at 802 N. Ashley Dr., this garage offers ample parking and is just a short walk from the property.
Fort Brooke Garage - Situated at 107 N. Franklin St., this garage provides easy access to central downtown and is ideal for visitors to nearby businesses and attractions.
Pam Iorio Parking Garage - Found at 301 Channelside Dr., this garage is perfect for those attending events at Amalie Arena and other nearby venues.
717 Parking Lots - Various lots such as the Teco North Lot, Maas Lot, and Goody Lot offer convenient parking options within a few minutes’ walk from the property.
Park Tower Garage - Located at 400 N. Tampa St., this garage offers a large number of parking spaces and is close to many downtown destinations.
These options provide a mix of hourly, daily, and monthly parking, ensuring flexibility for both short-term visitors and long-term tenants.
This prime redevelopment property is positioned in a high-traffic area with significant pedestrian and vehicular visibility. Downtown Tampa is experiencing rapid growth, with ongoing developments and increasing property values, making this an ideal investment. The flexible zoning and building layout provide numerous possibilities for retail, office, or mixed-use redevelopment, located in an Opportunity Zone. Seize this unique opportunity to invest in one of Tampa's most dynamic and promising areas.
Contact us today to learn more about this prime redevelopment property at 1001 N. Franklin St.
AVAILABLE FOR LONG TERM GROUND LEASE OR PURCHASE- 5,460 SF LOT SIZE; CURRENT BUILDING SIZE 9,684 SF (2 STORIES)
Versatile Development Options: Flexible zoning and building layout for retail, office, or mixed-use redevelopment, with NO FAR RESTRICTION. CURRENT ZONING ALLOWS FOR MEDIUM TO HIGH RISE DEVELOPMENT.
Located at the corner of N. Franklin St and E. Tyler St.
