Tampa Mixed-Use Investment
For Sale
$3,129,000
6711-6735 N Armenia Ave, Tampa, FL 33604
Fully leased mixed-use property with retail and apartments for sale.
Property Size11,447 SF
Price / SF$273.35
Days on Market121
Property Features for 6711-6735 N Armenia Ave
General Information
Standard status
Active
Size
11,447 SF
Property subtype
Retail
Building Details
Year Built
1956
Listing Agency:
Franklin Street Tampa
(813) 951-7796
Listed By:
Anthony Suarez · License #FL #SL3390004
(813) 951-7796
Source:
Franklinst
Added: Apr 1
Changed: Jul 10
Last Checked: Jul 10 at 3:56PM
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 Franklin Street Tampa
Investment Insights
Based on property information with market context.
The Shoppes of Armenia, located in Tampa, Florida, presents an investment opportunity. This mixed-use property totals 11,407 square feet, including 9,427 square feet of retail space on the ground floor and four apartment units on the second floor. The property is 100% leased by a mix of local tenants. Some tenants operate on a month-to-month basis, while others have modified gross leases with initial terms between 1 and 5 years, including options and escalations. Constructed in 1956, the main building was expanded in 1964 with an additional 4,800 rentable square feet, which included the four apartment units. The property benefits from high visibility, with over 250 feet of frontage on N. Armenia Ave, which sees approximately 24,500 vehicles per day. Situated on a hard corner, the property has multiple access points, including three on N. Armenia and one on W. Minnehaha St. The location is supported by a dense customer base, with over 300,000 residents within a 5-mile radius. The property is located close to Bravo Supermarkets (0.3 miles), Publix (1.1 miles), Lowry Park Zoo (1.5 miles), Neighborhood Walmart (2.1 miles), Walmart Supercenter (2.8 miles), Raymond James Stadium (3.8 miles), Hillsborough Community College (3.9 miles), International Mall (5 miles), Westshore Mall (6 miles), Tampa International Airport (6 miles), and the University of South Florida (6.8 miles).
Key Highlights
- Fully leased property with a strong mix of tenants.
- Mixed‑use property featuring 9,427 SF of retail space and 4 apartment units.
- Excellent visibility with over 250 feet of frontage on N. Armenia Ave (24,500 VPD).
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $274.7k | $24.00 |
| − Vacancy | −$27.5k | −$2.40 |
| EGI | $247.3k | $21.60 |
| − OpEx | −$92.7k | −$8.10 |
| NOI | $154.5k | $13.50 |
11,447 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$2.21M
$1.93M – $2.58M
NOI $154,535 @ 7.0% cap · market cap 4.94%
Second Best
Retail
$1.95M
$1.70M – $2.27M
NOI $136,299 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,678 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
50k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 57%
Shops & Services 28%
Dining 14%
Electronics 1%
Bravo Supermarkets
Groceries
28,535 visits/mo
0.2 miles
Chevron
Shops & Services
7,242 visits/mo
0.2 miles
Little Caesars Pizza
Dining
6,727 visits/mo
0.2 miles
Family Dollar
Shops & Services
6,459 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
732 visits/mo
0.1 miles
Demographics for 33604, FL
39,071
Population
17,053
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,209
Density / Sq Mi
$55,988
Median Household Income
$39,537
Median Earnings
$1,326
Median Rent
$264,900
Median Home Value
Market
Properties on Market for Mixed-use properties in Hillsborough County
Vacancy Rate% for Retail in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased mixed-use property with retail and apartments for sale.
Where is this mixed-use property located?
The property is located at 6711-6735 N Armenia Ave Tampa, FL.
What is the asking price?
The asking price for this property is $3,129,000.
What are key features of this property?
This property features: Fully leased property with a strong mix of tenants.; Mixed‑use property featuring 9,427 SF of retail space and 4 apartment units.; Excellent visibility with over 250 feet of frontage on N. Armenia Ave (24,500 VPD).
