Pending

1001 N MACDILL AVE

TAMPA FL, 33607

$2,690,000


$316.69 per sqft

Pending

8,494 sqft

Commercial

Built in 1967

Under contract-accepting backup offers. This unique Midtown investment opportunity is located at the hard corner lighted intersection of N. Macdill Avenue and W. Cypress Street. The 8,494 SF building sits on a 35,850 square foot (.82 Acre), CG (Commercial General) zoned parcel just blocks away from the newly established "Midtown" district of Tampa, Florida. This site is conveniently located in the heart of a large high-density population with excellent access from major roads with an abundance of commercial activity and is one of the most rapidly redeveloping neighborhoods throughout the Tampa-St Petersburg MSA. The building currently consists of 7 units ranging from 698 SF up to 1,600 SF. This site is one of the few throughout the market with adequate parking (46 spaces or 6.2 spaces / 1000 SF) for medical users within such close proximity to serve the highly sought after South Tampa demographic. The retail exposure and ample parking offers an opportunity to alter tenant mix over time and drastically increase the investment return as medical lease rates in this market are currently in the mid to upper 30's per SF NNN. This parcel also has a highly desirable future land use designation of CMU-35 which stands for Community Mixed Use - 35 units to the acre development density for a mixed use development. The development potential of such a land use also comes with a potential development FAR (floor-to-area ratio) of 2.0 meaning that this .81 acre parcel would have a maximum development potential of 28 units totaling a maximum of 71,700 SF of building improvement. Please contact us to discuss current tenancy and P&L information.

Located at the intersection of N. Macdill Avenue and W. Cypress Street.

T3413843

MLS ID

November 14, 2022

Listed

October 3, 2024

Updated

Map

1001 N MACDILL AVE
TAMPA FL, 33607

Interior Features

Total Stories

1


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

No

Exterior/Building Features

Lot Size

0.82 Acres

Other Property Details

Area Name

33607 - Tampa


Taxes

$19,165


Tax Frequency

Annually


Days on Market

438


Garage

No


Parking

Over 30 Spaces


View

No


County

Hillsborough


Municipality

29


Pool

No


Zoning

CG

Listing History

Date

Event

Price

10/3/2024

Pending

9/18/2024

Price change

$2,690,000

-16%

7/16/2024

Active

5/2/2024

Pending

Listed by BAY STREET COMMERCIAL LLC
Listing Contact: 813-254-6756 

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Data last updated 10/3/2024, 11:08 PM UTC

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