Current Use by Public Records
- Amscot - The Money Superstore / Loan Service
- Metro by T-Mobile / Mobile Phone Store / Electronics & Wireless Store
- Western Union / Bank / Credit Union
Property Details for 160 Fletcher Ave
- Year built
- 2005
- Lot size
- 0.45 lot acres
- Property type
- Retail properties & Spaces
- 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.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tampa
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.4604
- Latitude
- 28.0689
