High-Traffic Retail Strip
For Sale
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1510-1526 E Fowler Ave, Tampa, FL 33612
Fowler Shopping Plaza is a 27,319 SF strip center with dual access off E Fowler Avenue and N Elmer Street.
Property Size27,319 SF
Price / SF$305.65
Days on Market271
Property Features for 1510-1526 E Fowler Ave
General Information
Standard status
Active
Size
27,319 SF
Property subtype
RETAIL
Occupancy
96%
Site & Location
Traffic Count
55,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Colliers | Tampa
(813) 221-2290
Listed By:
Mike Milano · License #SL3335080
(727) 421-4377
Source:
Moodyscre
Added: Dec 9, 2025
Changed: Aug 17
Last Checked: Aug 14 at 7:51AM
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 Colliers | Tampa
Investment Insights
Based on property information with market context.
Fowler Shopping Plaza is a high-visibility retail strip center totaling 27,319 square feet, located along the north side of E Fowler Avenue in Northeast Tampa. The property is 96% leased with a lineup of long-term tenants, including Optical Outlets, Del Valle Mexican Restaurant & Grill, and Blue Flame Restaurant. All leases are triple-net and include annual rent increases.
The site offers convenient ingress and egress with access from both E Fowler Avenue and N Elmer Street. The property serves a dense population base and benefits from high daily vehicle counts, with nearly 55,000 vehicles per day reported from E Fowler Avenue.
Capital improvements in 2025 totaled more than $614,433, including roof repairs, parking lot coating and striping, complete exterior painting, landscaping enhancements, pylon sign repairs, and other upgrades. The nearby RITHM project and continued development along E Fowler Avenue are expected to support sustained activity in the immediate area.
The site offers convenient ingress and egress with access from both E Fowler Avenue and N Elmer Street. The property serves a dense population base and benefits from high daily vehicle counts, with nearly 55,000 vehicles per day reported from E Fowler Avenue.
Capital improvements in 2025 totaled more than $614,433, including roof repairs, parking lot coating and striping, complete exterior painting, landscaping enhancements, pylon sign repairs, and other upgrades. The nearby RITHM project and continued development along E Fowler Avenue are expected to support sustained activity in the immediate area.
Key Highlights
- 27,319 SF strip center with dual access off E Fowler Avenue and N Elmer Street
- Nearly 55,000 vehicles per day at the site with access supporting convenient customer ingress/egress
- 96% leased by diverse long‑term tenants including Optical Outlets, Del Valle Mexican Restaurant & Grill, and Blue Flame Restaurant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$325,287
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,505,740
$6.5M
Cap Rate 7%
$4,646,957
$4.6M
Cap Rate 9%
$3,614,300
$3.6M
Market Conditions
NOI Build-Up for 27,319 SF
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.
Gross rent
$491.7K $18.00/SF
− Vacancy
−$27.0K −$0.99/SF
EGI
$464.7K $17.01/SF
− OpEx
−$139.4K −$5.10/SF
NOI
$325.3K $11.91/SF
Area
ZIP 33612
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,505,740
Cap Rate 7%
$4,646,957
Cap Rate 9%
$3,614,300
Alternative Uses
Best Use
Retail
$4.65M
$4.07M – $5.42M
NOI $325,287 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.22M
$5.45M – $7.26M
NOI $435,618 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
55,000 VPD
Traffic count
96%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,410
Businesses Nearby
275k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 28%
Groceries 9%
Electronics 2%
RaceTrac
Shops & Services
31,831 visits/mo
0.5 miles
McDonald's
Dining
31,714 visits/mo
0.4 miles
Portillo's
Dining
22,565 visits/mo
0.3 miles
Miller's Ale House
Dining
19,354 visits/mo
0.3 miles
Starbucks
Dining
17,968 visits/mo
0.1 miles
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
Median Home Value
Market
Vacancy Rate% for Retail in Tampa, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fowler Shopping Plaza is a 27,319 SF strip center with dual access off E Fowler Avenue and N Elmer Street.
Where is this strip mall located?
The property is located at 1510-1526 E Fowler Ave Tampa, FL.
What is the asking price?
The asking price for this property is $8,350,000.
What are key features of this property?
This property features: 27,319 SF strip center with dual access off E Fowler Avenue and N Elmer Street; Nearly 55,000 vehicles per day at the site with access supporting convenient customer ingress/egress; 96% leased by diverse long‑term tenants including Optical Outlets, Del Valle Mexican Restaurant & Grill, and Blue Flame Restaurant
