5609 N NEBRASKA AVENUE

TAMPA, FL 33604

EAST SEMINOLE HEIGHTS MIXED USE OPPORTUNITY! 6 sources of income consisting of: A QUAD APARTMENT BUILDING / A RESTAURANT / A LARGE BILLBOARD / & SMALL STORAGE BUILDING. This perfectly located multi-use property is right in the thick of all of the revitalization of homes, new construction, and restaurant concepts. The property is composed of: 4 Unit quadplex (usually fully rented except during recent unit renovations) A 2/1 (740 sf.), B 1/1 (400 sf.), C 1/1 (560 sf.), D 1/1 (560 sf.), a separate garage / workshop adjacent to apartments (currently a part of restaurant lease); a free-standing Restaurant Property (currently rented Mexican Restaurant) with transferable 2COP liquor license, 1 mono-pole billboard currently on a land lease. The entire property is CI zoned so most uses are welcome on the property. Gross potential stabilized income is approx. $99,564 leaving a potential Net Operating Income of $78,106 and roughly an 8.5 CAP. These are the numbers to expect now that units have been renovated and only one unit remains to be leased. 4 years remain on the restaurant lease with tenant having an additional 5 year option thereafter with annual increases. Other recent capital improvements to the property are: A BRAND NEW WATERLINE AND METER TO THE APARTMENT BUILDING, NEW ROOF ON APARTMENT BUILDING, and new perimeter fencing installed. No owner financing is being offered.

Listing courtesy of FUTURE HOME REALTY INC 8137813622



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Data last updated at: 2024-10-29 08:00 PM EDT