8502 Armenia Ave Tampa, FL 33604

Evershine Square, a 29,294 square foot shopping center in Tampa, Florida, presents a compelling investment opportunity. This single-story, 17-tenant property boasts a 99% occupancy rate and a strong net operating income (NOI) of $547,073, yielding a 7.14% cap rate. The asking price is $7,665,000, translating to $261.66 per square foot. Built in 1984 and extensively renovated in 2019, the center features a durable TPO roof (installed 2019), a recently resurfaced parking lot (July 2024), and significant HVAC upgrades (2019). The property is situated on a 2.47-acre lot with 95 parking spaces and is zoned CG. Each tenant has individually metered utilities, simplifying management and enhancing cost efficiency. The center benefits from a prime location in Tampa, with nearly 20,000 residents within a one-mile radius and over 50,000 households within a three-mile radius. Below-market rents offer significant value-add potential, with projections indicating a potential valuation increase to just under $10,000,000 within three years. The property's long history of success, minimal vacancy, and strong tenant retention make it an attractive, low-maintenance investment with substantial long-term growth potential. The property's APN is A-22-28-18-152-000000-00010.1. The lease type is NNN.