3500 E Fletcher Ave - Medical FOR SALE


Tampa, FL 33613- Tampa Palms
$16,200,000 USD
813-921-5636
3500 E Fletcher Ave, Tampa, FL for Sale
$16,200,000 USD
Medical - FOR SALE
1/24
null | 9.16% Cap Rate

3500 E Fletcher Ave
Tampa, FL 33613
Tampa Palms


HIGHLIGHTS

  • 101,173 SF Medical and Professional Office Building 
  • Located directly across the street from the University of South Florida (USF) with nearly 49,000 students enrolled 
  • Located within 1 mile of 3 of the 5 largest medical centers in the Tampa MSA, including AdventHealth, USF Health, and Moffit Cancer Center 
  • The property has a diverse tenant mix and staggered lease terms, providing stability and upside potential through additional lease up
  • Major tenants in the building include: USF’s College of Public Health, AdventHealth Medical Group, and University Medical Service Association (UMSA) 
  • The asset is located on E Fletcher Blvd, a primary thoroughfare in Tampa, FL with an AADT of 42,000 

OVERVIEW

CALL FOR OFFERS DATE: April 11, 2025 RIPCO Real Estate is pleased to offer for sale University Professional Center, a ±101,173 square-foot office property strategically located across from the University of South Florida in Tampa. The building features a diverse mix of medical and professional office tenants, with USF as a major occupant. Recent long-term lease agreements reflect strong demand, contributing to an average weighted average lease term (WALT) of nearly four years. The property is located within 1 mile of 3 of the 5 largest medical centers in the Tampa MSA, including AdventHealth, USF Health, and Moffit Cancer Center. The property benefits from a high-density surrounding population, proximity to major medical centers, and a scarcity of competing office space in the immediate area. Additionally, the asset has undergone multi-million dollar aesthetic enhancements and is professionally managed and well-maintained.  This offering presents an attractive opportunity for investors seeking a stable office asset with upside potential. Investors can capitalize on the remaining 10% vacancy lease-up or explore the potential for student housing redevelopment in the future.

FOR SALE DETAILS

PRICE

$16,200,000 USD

PRICE/SF

$164 USD /SF

CAP RATE

9.16%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

University Professional Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

352

LAND DETAILS

LAND ACRES

4.59 AC

LAND SF

199,940 SF

ZONING

SPI-UC-2

APN/PARCEL ID

U-05-28-19-ZZZ-000001-26770.0

ASK ABOUT THIS PROPERTY

Jaclyn BlairRipco Real EstateMore Info
813-921-5636

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Jaclyn BlairRipco Real EstateMore Info
813-921-5636

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