1797 W Hillsborough Ave - Retail FOR SALE


Tampa, FL 33603- Oak Grove
$4,000,000 USD
727-452-6864
1797 W Hillsborough Ave, Tampa, FL for Sale
$4,000,000 USD
Retail - FOR SALE
1/6
null | 5.25% Cap Rate

1797 W Hillsborough Ave
Tampa, FL 33603
Oak Grove


HIGHLIGHTS

  • The asset is located on Hillsborough Ave, a primary thoroughfare in Tampa, FL with an AADT of 54,500.
  • Brand-new, NN+, 10-year lease with six (6) 5-year options to extend, demonstrating their long-term commitment to the site.
  • Tenant pays for taxes, insurance, and maintains all aspects of the premises.
  • Landlord is responsible for roof, structure, parking lot paving, and utility systems.
  • Brand new construction (2024) decreases the likelihood of capital expenditures needed to be made by Landlord.
  • The lease is a corporate lease with Starbucks Corporation.

OVERVIEW

RIPCO Real Estate is pleased to offer for sale 1797 W Hillsborough Avenue, a 2,503 SF Starbucks recently constructed on the northeast corner of W Hillsborough Ave and N Albany Ave in Tampa, FL. The property has a brand-new, NN+, 10-year lease with six (6) 5-year options to extend with Starbucks Corporation (S&P: BBB+), demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years throughout the original term and at the beginning of each option period, growing NOI and hedging against inflation. This stretch of W Hillsborough Ave where the property is located has an AADT of 54,500. Within 1 mile of 1797 W Hillsborough Ave, there is a population of 14,423 and an average household income of $82,411. The asset would be an attractive investment opportunity for investors looking for minimal landlord responsibilities, a newly-constructed retail building, a brand-new long-term lease with a strong national tenant, 10% rental increases every 5 years to hedge against inflation, and located in a state without state income tax.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$1,598 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,399 SF

ZONING

CI

APN/PARCEL ID

A-35-28-18-3H0-000009-00020.0

ASK ABOUT THIS PROPERTY

Ari RaviRipco Real EstateMore Info
727-452-6864

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Ari RaviRipco Real EstateMore Info
727-452-6864

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.