5524 W Cypress St - Office FOR SALE


Tampa, FL 33607
$11,900,000 USD
813-625-6213
5524 W Cypress St, Tampa, FL for Sale
$11,900,000 USD
Office - FOR SALE
1/12
null | 6.8% Cap Rate

5524 W Cypress St
Tampa, FL 33607


HIGHLIGHTS

  • 3-Yr Lease w/ GSA at 6.8% Cap Rate
  • 26,087 SF of Class B Office
  • Highly Desired Westshore Location
  • 10 per 1,000 Garage Parking
  • 3 Acres of Vacant Land
  • Parcels For Sale Combined or Separate

OVERVIEW

This 26,078 SF office property is located in the Westshore Business District, Tampa’s premier office market, just minutes from some of the region’s top shopping, restaurants, and entertainment. The property offers abundant 10 per 1,000 SF parking, outstanding signage and visibility, and convenient access to major highways, as well as Tampa International Airport. The existing office area is currently leased by the Department of Homeland Security through July 2027 with a one-year extension option potentially extending through July 2028. Located on 3 acres and offered at a 6.8% cap rate, the property has attractive intermediate cash flow with a variety of potential future uses, including redevelopment. In addition to the existing office building, the site contains approximately 3 acres of vacant land with retention already in place. The land is currently leased on a month-to-month for offsite airport parking. In combination with the office portion, up to 6 acres can be made available for mid-term redevelopment. The office and land components may be purchased separately ($8.45M and $3.45M, respectively) or in combination ($11.9M). Please see the Offering Memo for additional information.

FOR SALE DETAILS

PRICE

$11,900,000 USD

PRICE/SF

$213 USD /SF

CAP RATE

6.8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.99 AC

LAND SF

260,924 SF

ZONING

M-AP-2

APN/PARCEL ID

A-19-29-18-ZZZ-000005-49290.0

ASK ABOUT THIS PROPERTY

Joshua SimsVector Commercial Real Estate Services, LLCMore Info
813-625-6213

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Joshua SimsVector Commercial Real Estate Services, LLCMore Info
813-625-6213

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