160 Fletcher Ave Tampa, FL 33612

Property Details for 160 Fletcher Ave

Year built

2005

Lot size

0.45 lot acres

Property size

2,500 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 2,500 square foot Amscot storefront located at 160 W Fletcher Avenue, Tampa, FL 33612. The property, built in 2005, sits on a 0.45-acre lot and is currently operating under a Net Lease (NNN) agreement with Amscot Financial. The lease, initiated on March 28, 2005, has a remaining term of approximately 5.3 years, expiring March 31, 2030, with a 10% rent increase every five years. The asking price is $620,000, representing a price per square foot of $248 and a compelling 9.99% cap rate based on a current Net Operating Income (NOI) of $61,951. The property enjoys 100% occupancy and benefits from a single-tenant lease structure providing predictable cash flow. This strategically positioned outparcel is part of a major shopping center anchored by Harbor Freight and Save-A-Lot, experiencing high traffic volume due to its proximity to Interstate 275 (136,000 vehicles per day) and a heavily trafficked road (43,000 vehicles per day). The location also benefits from its proximity to the University of South Florida, with over 50,000 students. Neighboring tenants include Winn Dixie and Family Dollar. The lease includes one to five-year option periods, extending the potential investment horizon significantly. This presents a rare opportunity to acquire a well-performing, tax-free investment in a high-growth area of Tampa, Florida.

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Longitude

-82.4604

Latitude

28.0689