Mixed-Use Investment Opportunity

5609 N NEBRASKA AVENUE Tampa, FL 33604

For Sale

$899,500

East Seminole Heights property with multiple income streams.

Type:Commercial/Industrial

Property size:

3,907 SF

Lot size:

0.26 Acres

Price / SF:

$230/SF

For Sale

$899,500

East Seminole Heights property with multiple income streams.

Type:Commercial/Industrial

Property size:

3,907 SF

Lot size:

0.26 Acres

Price / SF:

$230/SF

Added:: Jan 18, 2025
Days on Market:: 541
Last Refresh:: Apr 6 at 3:55 am

Property Features for 5609 N NEBRASKA AVENUE

General Information

Standard status: Active
Size: 3,907 SF
Lot size: 0.26 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1935

Listing office FUTURE HOME REALTY INC

Listing date Jan 18, 2025

Source Exitrealty

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of FUTURE HOME REALTY INC

Investment Insights

Based on property information with market context.

This East Seminole Heights mixed-use property offers six sources of income. It includes a quad apartment building, a restaurant, a large billboard, and a small storage building. The property is located in an area experiencing revitalization with new homes, construction, and restaurant concepts. The property features a four-unit quadplex that is fully rented. Unit A is a 2-bedroom, 1-bathroom unit with 740 square feet. Units B, C, and D are each 1-bedroom, 1-bathroom units, with Unit B having 400 square feet and Units C and D each having 560 square feet. Adjacent to the apartments is a separate garage/workshop, currently part of the restaurant lease. There is also a free-standing restaurant property, currently rented to a Mexican restaurant, with a transferable 2COP liquor license, and a mono-pole billboard currently on a land lease. The entire property is CI zoned, accommodating most uses. The gross income is $95,903.40 with a Net Operating Income of $74,445. All apartment units have been renovated and are leased. The restaurant lease has 4 years remaining, with the tenant having an additional 5-year option thereafter with annual increases. Recent capital improvements include a new waterline and meter to the apartment building, a new roof on the apartment building, and new perimeter fencing. The property size is 3907 square feet.

Key Highlights

Multiple Income Streams: Benefit from income generated by the quad apartment building, restaurant, billboard, and storage building.
High Net Operating Income: Generates a Net Operating Income (NOI) of $74,445, equating to approximately an 8 CAP.
Fully Leased Apartments: All four apartment units are renovated and currently leased.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$75.0k	$19.20
− Vacancy	−$3.8k	−$0.96
EGI	$71.3k	$18.24
− OpEx	−$17.8k	−$4.56
NOI	$53.4k	$13.68

3,907 SF · lease $19.20/SF/yr · vacancy 5.00% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$763.5K

$668.1K – $890.8K (±1% cap)

NOI $53,448 @ 7.0% cap · market cap 5.94%

Second Best

Mixed Use

$753.5K

$659.3K – $879.1K (±1% cap)

NOI $52,745 @ 7.0% cap · market cap 5.86%

Theoretical Best

Office A

$910.2K

$796.4K – $1.06M (±1% cap)

NOI $63,715 @ 7.0% cap · market cap 7.08%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Xtreme Tacos Restaurant Restaurant

Suggested Use

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For sale
Mixed-use properties
FL
Tampa
33604
5609 N NEBRASKA AVENUE

What type of property is this?

Mixed-use property - East Seminole Heights property with multiple income streams.

Where is this mixed-use property located?

The property is located at 5609 N NEBRASKA AVENUE Tampa, FL.

What is the asking price?

The asking price for this property is $899,500.

What are key features of this property?

This property features: Multiple Income Streams: Benefit from income generated by the quad apartment building, restaurant, billboard, and storage building.; High Net Operating Income: Generates a Net Operating Income (NOI) of $74,445, equating to approximately an 8 CAP.; Fully Leased Apartments: All four apartment units are renovated and currently leased.

5609 N NEBRASKA AVENUE Tampa, FL 33604

East Seminole Heights property with multiple income streams.

Property Features for 5609 N NEBRASKA AVENUE

General Information

Building Details

Investment Insights

Key Highlights

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Retail Office Strip Center

Medical Office with Two Suites

Updated Professional Office Building

Spacious Industrial Building on Large Lot

South Tampa Flex Building

Versatile Tampa Medical Office Building

Waterfront Commercial Development Opportunity

High-Exposure Commercial Building Near Busch Gardens

Ambulatory Surgery Center Facility

Industrial Flex Facility with Showroom

Versatile Mixed-Use Property in Tampa

Tampa Engineering Service Company Business

FAQs