Corner Lot Commercial Investment
7202 Us Highway 301 S, Riverview, FL 33578
Two-building commercial property with established tenants and income potential.
Type:Retail
Property size:
3,049 SFPrice / SF:
$262/SF- Added:
- May 24, 2023
- Days on Market:
- 1104
- Last Refresh:
- May 13 at 8:42 pm
Property Features for 7202 Us Highway 301 S
General Information
- Standard status
- Active
- Size
- 3,049 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1945
Listing agent Brandon Rimes
Listing office KELLER WILLIAMS REALTY- PALM H (727) 772-0772
Listing date May 24, 2023
Source Xome
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 KELLER WILLIAMS REALTY- PALM H
HighLights
- Prime corner lot location with excellent accessibility and high traffic off US 301.
- Two buildings with established businesses: barbershop and auto repair shop (with 3 lifts).
- Leased auto repair shop provides immediate, stable income of $2,700 per month.
- New Advent Health Hospital being built nearby increases location desirability.
- New Roof and A/C systems (only 2 years old) for both buildings.
- General Commercial zoning allows for diverse redevelopment options.
Overview
This commercial property features two buildings situated on a corner lot. The first building is a 1,281-square-foot barbershop, and the second is a 1,768-square-foot auto repair business equipped with three automotive lifts. Located off US 301, which runs parallel to I-75, the property benefits from accessibility and traffic. Both buildings have roof and A/C systems that are two years old. The auto repair shop is leased for a five-year term, commencing on May 1, 2023, with a monthly rental income of $2,700. A new Advent Health Hospital is under construction blocks away on 301. The current zoning designation, General Commercial, allows for various redevelopment options, including research facilities, retail establishments, banks, florists, food establishments, grocery stores, restaurants, medical facilities, or recreational spaces. The property offers income potential.
Local Financial Insights For Specialty Retail
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 | $64.0k | $21.00 |
| − Vacancy | −$3.5k | −$1.16 |
| EGI | $60.5k | $19.85 |
| − OpEx | −$15.1k | −$4.96 |
| NOI | $45.4k | $14.88 |
3,049 SF · lease $21.00/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$648.3K
$567.3K – $756.4K
NOI $45,381 @ 7.0% cap · market cap 5.68%
Second Best
Retail
$542.2K
$474.5K – $632.6K
NOI $37,957 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$950.9K
$832.0K – $1.11M
NOI $66,563 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Auto shops
Similar Places Nearby
- Next Level Signs Printing Apparel — 7441 US-301 #113, Riverview, FL 33578
- Gtx Garage — Commerce St, Riverview, FL 33578
- Multi-Mile Tires — 7825 US-301, Riverview, FL 33578
- Shade and Sun window tint
- Riverview Tire & Auto Service — 7839 US-301, Riverview, FL 33578
Location Insight
- Map
- Local Demand
- City
- Riverview
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.3299
- Latitude
- 27.8796
Nearby Similar for Sale
FAQs
What type of property is this?
Auto shop - Two-building commercial property with established tenants and income potential.
Where is this auto shop located?
The property is located at 7202 Us Highway 301 S Riverview, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime corner lot location with excellent accessibility and high traffic off US 301.; Two buildings with established businesses: barbershop and auto repair shop (with 3 lifts).; **Leased auto repair shop provides immediate, stable income of $2,700 per month**.
