Tampa Mixed-Use Investment
6711-6735 N Armenia Ave Tampa, FL 33604
6711-6735 N Armenia Ave, Tampa, FL, 33604
$3,129,000
For Sale
$3,129,000
Fully leased mixed-use property with retail and apartments for sale.
Property Size11,447 SF
Price / SF$273.35
Days on Market113
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 Updated: Jul 10 at 3:56PM 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).
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
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).
