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    5609 Nebraska Ave Tampa, FL 33604

    For Sale
    $939,000

    High-Income Multi-Use Property in East Seminole Heights

    Property size:
    5,336 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional mixed-use property in Tampa's vibrant East Seminole Heights offers a compelling investment opportunity with multiple income streams. The 5,336 square foot property sits on a 0.26-acre lot and boasts a diverse portfolio including a four-unit apartment building, a restaurant with a transferable 2COP liquor license, a large billboard, and a small storage building. The apartment building, featuring four renovated units (one 2-bedroom/1-bathroom unit of 740 sq ft, and three 1-bedroom/1-bathroom units ranging from 560 sq ft each), is currently fully rented. The adjacent garage/workshop is included in the existing restaurant lease. The free-standing restaurant building is also under lease to a Mexican restaurant, with a remaining four-year lease term and a five-year option. A significant advantage is the property's CI zoning, allowing for a wide range of potential uses. Recent capital improvements include a brand-new waterline and meter for the apartment building, a new roof, and new perimeter fencing. The property generates a gross annual income of $95,903.40, resulting in a net operating income of approximately $74,445, representing a roughly 8% capitalization rate. The billboard operates under a separate land lease agreement. This turnkey investment presents a rare opportunity to acquire a well-maintained, high-income-producing property in a rapidly developing area. No owner financing is available.

    Property Features for 5609 Nebraska Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    5,336 SF
    Lot Size
    11,326 SF

    Building Details

    Year Built
    1935
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Xtreme Tacos Restaurant Mexican Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4509
    Latitude
    27.9986

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    FAQs

    What type of property is this?
    Mixed-use property - High-Income Multi-Use Property in East Seminole Heights
    Where is this mixed-use property located?
    The property is located at 5609 Nebraska Ave Tampa, FL.
    What is the asking price?
    The asking price for this property is $939,000.
    (813) 855-4982
    Request Owner's contact information
    5609 Nebraska Ave Tampa, FL 33604
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    Tampa, FL 33604
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5609 Nebraska Ave Tampa, FL 33604
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