3227-3233 W Cypress St - Storefront Retail/Residential FOR SALE


Tampa, FL 33607- West Tampa
$2,545,000 USD
727-452-6864
3227-3233 W Cypress St, Tampa, FL for Sale
$2,545,000 USD
Storefront Retail/Residential - FOR SALE
1/9
null | 6.46% Cap Rate

3227-3233 W Cypress St
Tampa, FL 33607
West Tampa


HIGHLIGHTS

  • Value-add mixed-use center
  • Located in Midtown and on the edge of Westshore, two of the most affluent and populated submarkets in the Tampa MSA
  • The property consists of six first-floor retail units and three second-floor residential units 
  • Five of the six tenants have no options (weighted average lease term of 1.84 years)
  • The second-floor residential units are currently being operated as Airbnb’s but can be converted to apartments
  • Airbnb units are fully furnished and professionally designed by an interior decorator, offered as turnkey, high-performing listings

OVERVIEW

RIPCO Real Estate is pleased to offer for sale Midtown East, a ±7,104 SF mixed-use property located on the northside of W Cypress Street in Tampa, FL. The property is comprised of six first-floor retail units and three second-floor residential units. The second-floor apartments include a 900 SF two-bedroom apartment and two 677 SF one-bedroom apartments. The retail suites are currently 100% occupied and the apartments are used as Airbnb’s. W Cypress Street is located just 4 blocks south of I-275, which connects I-4 to downtown St. Petersburg with over 250,000 AADT. The property is also located a half mile from Midtown Tampa, a new 22-acre mixed-use development with over 225,000 annual visits and growing. This stretch of W Cypress Street where the property is located has an AADT of 16,800. Within 3 miles of Midtown East, there is a population of 125,627 and an average household income of $137,995. The asset would be an attractive investment opportunity for investors looking for a value-add mixed-use property, recently renovated with resurfaced parking and extensive interior and exterior upgrades, and on the edge of one of the most affluent and populated trade areas in the Tampa MSA.

FOR SALE DETAILS

PRICE

$2,545,000 USD

PRICE/SF

$358 USD /SF

CAP RATE

6.46%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Midtown East

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

CG

APN/PARCEL ID

A-15-29-18-4PV-000006-00018.0

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.