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Vacant Condominium Building Near River

2424 W TAMPA BAY BOULEVARD, Tampa, FL 33607

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For Sale

$6,000,000

32-unit condominium building with river access, seller financing available.

Type:Commercial/Industrial

Property size:

31,450 SF

Price / SF:

$190/SF

HighLights

Seller financing available
River access with boat slips and ramp, leading to the Gulf
Enjoy community amenities including 2 pools, clubhouse, and fitness center
Gated community
Updated kitchens and bathrooms
Variety of unit sizes: 3‑bedroom/2‑bath, 2‑bedroom/1‑bath, and 2‑bedroom/2‑bath

We can help!

Listing Contact

Frank Leto

For Sale

$6,000,000

32-unit condominium building with river access, seller financing available.

Type:Commercial/Industrial

Property size:

31,450 SF

Price / SF:

$190/SF

Added:: Dec 11, 2024
Days on Market:: 559
Last Refresh:: May 20 at 12:10 am

Property Features for 2424 W TAMPA BAY BOULEVARD

General Information

Standard status: Active
Size: 31,450 SF
Property subtype: Commercial/Industrial

Building Details

Year Built: 1989

We can help!

Listing Contact

Frank Leto

Listing agent Frank Leto License #272816

Listing office GREAT AMERICAN REALTY

Listing date Dec 11, 2024

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 GREAT AMERICAN REALTY

HighLights

Seller financing available
River access with boat slips and ramp, leading to the Gulf
Enjoy community amenities including 2 pools, clubhouse, and fitness center
Gated community
Updated kitchens and bathrooms
Variety of unit sizes: 3‑bedroom/2‑bath, 2‑bedroom/1‑bath, and 2‑bedroom/2‑bath

Overview

This is a 32-unit, 4-story concrete block condominium building, known as The Marina Club, with access to and views of the Hillsborough River, which leads to the Gulf. Constructed in 1989 and remodeled in 2010, the building features screened patios, central heat and air, washer and dryer hookups, and fire sprinkler systems in all units. The unit mix includes eight 3-bedroom/2-bath units at 1415 square feet, eight 2-bedroom/1-bath units at 1140 square feet, and sixteen 2-bedroom/2-bath units at 1240 square feet. Community amenities include two pools, a clubhouse, a fitness center, river access, boat slips, a boat ramp, and gated entry. The building is currently vacant. The property size is 31450 square feet. Note that per HOA rules, units can only be sold to owner-occupants, and rentals are not permitted.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$668.0k	$21.24
− Vacancy	−$47.4k	−$1.51
EGI	$620.6k	$19.73
− OpEx	−$279.3k	−$8.88
NOI	$341.3k	$10.85

31,450 SF · lease $21.24/SF/yr · vacancy 7.10% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$4.88M

$4.27M – $5.69M (±1% cap)

NOI $341,314 @ 7.0% cap · market cap 5.69%

Second Best

—

no second resolved use

Theoretical Best

Office A

$7.33M

$6.41M – $8.55M (±1% cap)

NOI $512,887 @ 7.0% cap · market cap 8.55%

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

Property Profile Location Intelligence

Current Use by Public Records

New York Realty Apartment Building anthrotourist Travel Agency Mom's Place Family Counselor thepetraliaedge (Bike/Boat/Book/etc) Store Marina Club of Homeowners ... Condominium Complex

Suggested Use

Location Insight

Map
Local Demand

City: Tampa
County: Hillsborough
State: Florida
Longitude: -82.4833
Latitude: 27.9724

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For sale
Apartment buildings
FL
Tampa
33607
2424 W TAMPA BAY BOULEVARD

What type of property is this?

Apartment building - 32-unit condominium building with river access, seller financing available.

Where is this apartment building located?

The property is located at 2424 W TAMPA BAY BOULEVARD Tampa, FL.

What is the asking price?

The asking price for this property is $6,000,000.

What are key features of this property?

This property features: Seller financing available; River access with boat slips and ramp, leading to the Gulf; Enjoy community amenities including 2 pools, clubhouse, and fitness center